Diamond company Rockwell Diamonds reported this week it had obtained a record price of $145,000 US per carat for a rare 7.28 carat pink diamond.

Rockwell noted that it had gotten a price of $1 million for the stone, which was described as an intense, pink, rounded octahedral diamond that was unearthed at the Holpan Mine in South Africa`s Northern Cape.
Pink diamonds are very rare all over the world. The only regular source known is the Argyle Mine in Western Australia.

The National Diamond Association has reported that pink diamonds have been found only a handful of times around the world. For example, the Rich Golconda River in India, Brazil and Tanzania produced pink diamonds in the 1600s and 1700s.

The association stated that the physical conditions that are needed to form pink diamonds occur very rarely, so that just one diamond in 10,000 has such a color.

The value of such a diamond is determined by the face-up appearance and the rarity of the color of pink.

More common colors, such as gray, brown and yellow have a lower value than colored diamonds such as pink ones. Other rare colors include blue, green, purple and orange. The most expensive of all is red.