The Modern Family star's businessman boyfriend popped the question during Vergara's recent 40th birthday celebrations in Mexico and sealed the deal with an eight-carat cushion cut ring.
Vergara admits she would have thought twice about becoming Mrs. Loeb if the sparkler was smaller.
She tells Lucky magazine, ""It is perfection. If it was bigger, it would be too big to wear. But if it was smaller, I would not like (it).""
And the Colombian beauty has no shame in admitting she and her husband-to-be appreciate the finer things in life: ""I love luxury. I love yachts. I love planes. I love trips. I can live without all of them, and I have, but I am not going to apologise and pretend I don't love luxury, because I do.""