This is a beautiful vivid pink 2.38 carat spinel necklace. The setting and chain are both made from 14k yellow gold.
 
Spinel is an interesting stone that was at one time thought to be the same stone as a ruby, however spinel is a totally different gemstone which comes in many colors such as blue, grey, pink and red. Vivid pink and red spinel are the most expensive and valuable form of spinel.