Diamonds are forever, especially when it comes to celebrities, royals and actress alike.

When Kate Middleton first revealed her engagement ring in November 2010, the whole of Britain got emotional. Her £28,000 blue sapphire ring comprising of 14 diamonds is the same ring Prince William's mother, Diana, Princess of Wales, chose for herself in 1981, for her engagement to Prince Charles.

"It is very special to me. It was my way to make sure my mother did not miss out on today and the excitement that we are going to spend the rest of our lives together," an emotional Prince William said while announcing his engagement to Kate Middleton.

For Prince William and Kate Middleton, who donned a royal blue dress by Issa to pair with the ring, it was not about spending a fortune on an engagement ring. They instead wanted to keep Princess Diana's memory in their new life together as the Duke and Duchess of Cambridge.

There are other celebrities, who are well-known for their possession of diamonds. While Elizabeth Taylor's famed 33.19-carat diamond ring went on show for Christie's auction last year, several pieces from her diamond collection are often exhibited worldwide.

Then there are celebrities for whom flaunting engagement and wedding rings is not an uncommon norm. Kim Kardashian's wedding may have lasted for just 72 days in 2011 but she showed off her 20-carat wedding ring quite often in public.

Singer Paul McCartney was in no way behind last year in getting into "diamond talks" when he slipped on his bride Nancy Shevell's finger a Neil Lane's wedding band featuring five carats of square-cut diamonds set in platinum, during their marriage ceremony in London in October.

Click on "Start" to view some of the multicarat diamond rings worn and flaunted by celebrities, from Elizabeth Taylor, Kim Kardashian and The Beatles' Paul McCartney to Kate Middleton and Princess Diana