When Ben Affleck gave Jennifer Lopez a pink diamond engagement ring, the world sat up and took notice. The ring was estimated to be between 5 and 6.1 carats and to cost from 1 million to 1.5 million dollars. Other celebrities spotted wearing pink diamonds are Cilla Black, Helena Christiansen, and Victoria and David Beckham.

What is a carat?

A carat is a measure of the weight of a diamond. It is thought to come from the ancient Greek, keraton, and was based on the weight of the carob bean.

What makes the pink diamond so special?

The pink diamond is the rarest and most valuable of diamonds. Most jewelers will spend their entire lives and never see a pink diamond. The Argyle Mines of Australia are the world's largest and main source of pink diamonds and they only mine about 700 carats per year. Mines in Brazil, South Africa, and Russia almost never find a pink diamond. Only recently did Argyle even sell to the United States at their private and exclusive Pink Diamond Tender. Pinks at this tender have sold for up to 1 million dollars a carat.

Even as far back as the 1980s pink diamonds fetched a hefty price. In 1982 a 3.4 carat Argyle pink was sold by Christies for 1.5 million dollars. In 1994, Christies in Geneva sold one for $377,483 per carat and in 1995 Sotheby’s sold and Intense purplish pink for $818,863 a carat.

Are pink diamonds really pink?

Yes. They range in hue and in intensity from a pale pink to an intense purple. For some reason Americans prefer fancy light pink and fancy pink whereas the Europeans go for vivid and intense pinks. The color is thought to result from a "deformation," a mistake in atomic arrangement or missing atoms. These deformations are known as "color centers." Recently a process was developed to alter the color of some diamonds. This is not to be confused with the man made pink diamond which can be created up to 1.25 carats.

What is the largest pink?

Of the 66 largest diamonds, only one is a pink. This is the Darya-i-Nu at 185 carats.