On the heels of record-breaking auctions of colored diamonds in Geneva this November, a rare, 5-carat pink diamond to be auctioned by Christie's in Hong Kong on December 1 is expected to fetch between $5-$7 million, near world record prices. The stone's "vivid pink" is considered near perfect and the Christie's jewelry head, Vicky Shek, has touted it as one of the best colored stones to appear in recent years.