Ever since J.Lo was given a pink engagement ring, pink diamonds have been highly sought after for engagement jewellery (back in 2002 when Ben Affleck proposed to Jennifer Lopez, with a $1.2 million ring with a six carat radiant cut pink diamond in the center). They are also sought after as unique, delightful options for unusual pieces.

JLo's Pink Diamond Ring from MTV Interview

Because pink diamonds are the rarest of gems, they’re also the most expensive. Pink stones have several unusual considerations as well, while being subject to similar characteristics of general diamond quality.

A colourless diamond is comprised of pure carbon. Coloured diamonds however, have a chemical variation which affects the way the stones reflect light. This results in different hues.

Gemologists haven’t discovered yet what exactly creates pink hues. Commercial quality pink gems are mostly found in the Argyle Mine in Australia (which produces 90%-95% of the world's pink diamonds), adding to their mystery and value.

While cut is extremely important in pink diamonds, the most attention goes to the intensity of color. A deeper colour means a more valuable stone. The majority of pink stones are light shades, but because of their rarity they are still highly priced--up to ten times what a similar quality colorless stone would cost.

A .19 carat fancy intense pink diamond

Pink stones are available from a very light salmon to an intense, vibrant magenta.

PS: The Argyle open-pit diamond mine, located in the Kimberley region in the far north east of Western Australia, is the world's largest single producer of diamonds. The region is remote, rugged and hot, with temperatures of over 40°C during the wet season from October to March.

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