A new tiara with 178 rare pink diamonds set in platinum and rose gold is now available for NZ$2.3 million (£1.05 million), it has been confirmed.

The piece was designed and manufactured by royal jewellers Asprey of London over the course of a year and has now been brought to New Zealand by Partridge Jewellers.

Anyone considering purchasing the tiara will be interested to note that its centre can be detached and fastened in a band to form a ring, the New Zealand Herald reports.

The lofty price tag is largely due to the inclusion of pink diamonds, which represent about 0.1 per cent of all diamonds mined and are therefore among the most expensive in the world.

"These ones come from Rio Tinto's Argyle mine in the northern region of Western Australia, which produces about 90 per cent of the world's pink diamonds," noted the news provider.

"The tiara returns to London via Hong Kong, Shanghai, Beijing and New York."

Also now on sale is a necklace, crafted in the same Asprey workshop, which has a five-carat white diamond with blue, pink and yellow stones and retails at NZ$880,000.

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<a href="http://www.nzherald.co.nz/nz/news/article.cfm?c_id=1&objectid=10666912">Tiara: In the pink - yours for $2.3m (18/08/10)</a>

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