Pink Diamond Engagement Rings Will Cost You an Arm, a Leg, and a Vital Organ or Two

Pink diamond engagement rings received a lot of attention recently when J-Lo received an equisite 6 carat pink diamond in 2002 from Ben Affleck. Although the romance fizzled, the desire for pink diamonds did not.

Only a small number of pink diamonds are found each year, making them both extremely rare and highly sought after. Due to the supply/demand factor, they are often extremely costly and can easily run over $10,000 and typically much much more. Natural pink diamonds are light in color with just a hint of pink. Most of the world's pink diamonds are found in Australia.

An appealing alternative to pink diamonds are pink sapphires, which are less expensive ($500 and up), come in a wider variety of shapes and sizes, and have both light and deep shades of pink. Pink sapphires receive their color from small amounts of chromium. They are a hard gemstone and are therefore suitable for everyday wear.

Pink tourmalines are another alternative to pink diamonds For those who fall into the "want champagne on a beer budget category," you can always combine small pink diamonds with more affordable gemstones. Also, colorless diamonds can undergo treatment to develop a pink hue at a more affordable price.

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