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Engagement Rings of the Rich and FamousIn 2006 Greek shipping heir Paris Latsis presented his fiancée, American socialite and hotel heiress Paris Hilton with a 24-carat emerald-cut canary yellow diamond engagement ring reported to have a value of US$4.7 million. One of the world's most expensive engagement rings ever. At the time, the Forbes ranking of the world's richest people listed the Latsis family at No.54 with a combined wealth of $7.5 billion, so I guess Paris could afford it. But apparently even proposing with one of the world's most expensive engagement rings doesn't guarantee everlasting happiness, and four months later they split. It seemed that Paris was consumed by her busy schedule and became wary of marriage. People close to her said she didn't seem to have time for a relationship and "When Paris gets married she wants it to be forever." About the beautiful yellow-diamond engagement ring, Paris was quoted as saying "I like it, but it's yellow and I'm like, I didn't want yellow for my engagement ring". She auctioned it to help raise funds to aid the victims of Hurricane Katrina. Diamonds with a slight yellowish tinge are not usually considered desirable for engagement rings (you can see a full explanation of the colour scale of diamonds for engagement rings in our Buyers Guide), but those with a natural intense yellow colour are actually quite valuable. Only 1 in 1000 diamonds are classified as canary yellow. The yellow colour is believed to be due to the inclusion of nitrogen in the crystal lattice. Kahn Canary Diamond Ring
Although never seriously considered for an engagement ring, the Kahn Canary Diamond was set in a custom-designed ring to be lent to Hillary Clinton to wear at her husband's inaugurals, both as Governor of Arkansas, and as President of the United States. Incomparable Diamond
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