Given that we’re now in the heart of the spring season, Diamond & Estate Trust is devoting this week to this season’s most colorful, lively luxury jewelry trend: colored diamonds . Up today is the pink diamond , perhaps the most popular colored diamond of the last few years. From its striking Red Carpet presence (did you see Penelope Ann Miller ’s 3 carat pink diamond ring at the 2012 Oscars?) to its massive price tag at Christie’s and Sotheby’s auctions (one fetched more than $600,000 just last month), it’s no surprise that the pink diamond is one of the most coveted gems of 2012. How rare are pink diamonds? Just how rare is the pink diamond? If you’ve been reading our posts this week, you already know that 1 in every 10,000 diamonds mined is a color other than white. Within the spectrum of colored diamonds , the pink diamond falls somewhere in the middle: It’s not as rare as the red, purple, blue or green diamond, but it is far less common than brown, black, yellow and grey diamonds. The number of pink diamonds in the world is so few that most people will never see one of these gorgeous gems outside of a museum or auction (which may explain the world’s excitement over the recent pink diamond discovery at Australia’s famed Argyle Mine!) How do pink diamonds get their color? Whereas nitrogen gives yellow diamonds their hue, and boron causes a diamond to turn blue, scientists are still not sure what causes diamonds to take on a gorgeous, rosy hue. Still, most agree that the romantic pink color is the result of a rare atomic structure present while a diamond is forming. As with most colored diamonds, the richer and deeper the pink hue, the more valuable the gem. When it comes to pink diamonds, natural fancy deep and fancy intense hues are the ultimate sign of luxury. Capitalizing on the world’s love affair with pink diamonds, many jewelers use techniques like irradiation and heat to turn white diamonds to that desirable rosy pink hue. Just remember that natural colored diamonds are much more valuable than artificially treated ones. Want to know for sure that a pink diamond has a natural color? Check its certification! What are some famous pink diamonds? The Conde Pink Diamond The largest known pink diamond in the world is the Darya-i-Nur or Sea of Light diamond. At 175 carats, this flawless, rosy pink diamond is found in the crown jewels of Iran. Another notable pink diamond is The Grand Conde, also known as The Conde Pink, The Conde Diamond, or Le Grande Conde. At 9.01 carats, this light pink pear-shaped diamond has as much beauty as it does history. The story goes that King Louis XIII presented this stunning diamond to Louis de Bourbon, the commander of the French Army during the Thirty Years’ War. And numerous pink diamonds have gained worldwide fame at recent luxury jewelry auctions . A fancy vivid pink 5 carat diamond in a chic cushion cut fetched $11.8 million at a Christie’s Hong Kong sale in 2009. Another pink diamond from Christie’s, a 14.23 carat rectangular cut fancy intense pink diamond, fetched $23.2 million at a 2010 sale in Hong Kong. And a 6.01 carat fancy vivid blue and pink diamond ring set a world record for price-per-carat when it fetched a cool $10.1 million in an October 2012 auction. What’s the next major pink diamond to go up on the auction block? An exquisite 9 carat cushion cut pink diamond ring that copper heiress Huguette Clark inherited from her mother. Christie’s expects this gorgeously cut, perfect condition pink diamond from 1910 to go for $10 million to $15 million when it’s sold later this month. What cut is best for pink diamonds? Pink diamonds are often seen paired with white diamonds , a popular design aesthetic that amplifies the beauty of a pink diamond’s color. Radiant, princess and brilliant cuts are preferred for pink diamonds, as these cuts feature strong facets that bring out the depth and color of a pink diamond. But because a pink diamond is so romantic, many jewelers choose antique cuts not commonly seen in colored diamonds. The cushion cut, for instance, is a soft, lustrous diamond cut that matches the romance of a soft pink diamond. Which celebrities wear pink diamonds? Penelope Ann Miller stole the spotlight at the 84th Annual Academy Awards when she wore a stunning 3 carat pink diamond ring that matched the powdery pink color of her vintage gown. Jennifer Lopez was one of the first celebrities spotted wearing a pink diamond, a magnificent 6 carat pink diamond engagement ring given to her by then-fiancée Ben Affleck. Mariah Carey, Nicole Kidman, and Salma Hayek have been spotted recently wearing pink diamonds. (We can’t think of anyone who’s worn a pink diamond better than Nicole Kidman did. Did you love her Red Carpet pink diamond Bulgari necklace as much as we did?) Pink diamonds and Diamond & Estate Trust For the ultimate symbol of luxury and romance, there’s nothing more exquisite than a rare, breathtaking pink diamond. This 6.8 carat fancy intense pink radiant cut diamond in our collection has a gorgeous natural hue and a quality cut that brings this pink diamond to life. It would be perfect in a classic ring setting or as a custom piece designed just for you by our experts.