The April 20 sale at Sotheby’s in New York City was dubbed Magnificent Jewels. An understatement, perhaps, for this trinket: a 7.67 ct., internally flawless rare fancy intense pinkish-orange diamond ring. Colored diamonds are super-hot on the auction circuit; in the last half of 2009, “pink, blue, and green all broke records per carat,” notes Robert May, executive director of the Natural Color Diamond Association. Last December, a 5 ct. vivid pink went for—wait for it—$10.8 million. At $3.11 million, this pinkish-orange stunner is a veritable bargain. —Melissa Rose Bernardo