All About Princess Charlene's Unique Necklace — Featuring a Rare Pink Diamond!

Princess Charlene of Monaco and Their Serene Highness Prince Albert II of Monaco attend the 2022 Princess Grace Awards at 583 Park Avenue on November 03, 2022 in New York City.
Princess Charlene of Monaco and Their Serene Highness Prince Albert II of Monaco attend the 2022 Princess Grace Awards at 583 Park Avenue on November 03, 2022 in New York City.

Dave Kotinsky/Getty Images for Princess Grace Foundation

Prince Albert and Princess Charlene had a glittering night out!

The princely couple of Monaco stepped out in New York City on Thursday evening for the Princess Grace Awards Annual Gala, celebrating this year's class of Princess Grace Award winners in theater, dance and film. Albert, 64, was dapper in a classic tux, while Charlene, 44, glowed in a sleeveless floral gown and a very special necklace.

In a fashion first, Charlene had the honor of wearing the pink Grace Diamond for its public debut. The 1.79-carat radiant cut sparkler is owned by Maison Mazerea, a new brand specializing in rare colored diamonds, uniquely autonomous in its process from mining to design. Fastened by Parisian jeweler Lorenz Bäumer into a necklace called "La Vie en Rose," the center gem will later be removed and reimagined into a successive collection of pieces under the Maison Mazerea name.

Princess Charlene of Monaco and Their Serene Highness Prince Albert II of Monaco attend the 2022 Princess Grace Awards at 583 Park Avenue on November 03, 2022 in New York City.
Princess Charlene of Monaco and Their Serene Highness Prince Albert II of Monaco attend the 2022 Princess Grace Awards at 583 Park Avenue on November 03, 2022 in New York City.

Dave Kotinsky/Getty Images for Princess Grace Foundation

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Charlene and Albert took time to speak with all the award winners at the gala, which PEOPLE attended. The Princess Grace Foundation was established 40 years ago by Albert's father, the late Prince Ranier III, to celebrate the legacy of his wife Princess Grace, an Oscar-winning American actress who enchanted the world with her beauty and talent. She tragically died after suffering a stroke following a car crash in 1982; she was 52 years old.

"After her tragic death, her family wanted to create an organization that reflected her love for her native country and her profound dedication to the arts," the charity states of its mission. "During her reign, Princess Grace brought arts and culture to Monaco while also quietly supporting countless American performing and film artists."

Gabriela Saker, Siena Zoë Allen, Francisco Mendoza, Dane Edidi, Princess Charlene of Monaco,Their Serene Highness Prince Albert II of Monaco, Britnie Narcisse, Abigail C. Onwunali, Shayok Misha Chowdhury and Héctor Alvarez attend the 2022 Princess Grace Awards at 583 Park Avenue on November 03, 2022 in New York City.
Gabriela Saker, Siena Zoë Allen, Francisco Mendoza, Dane Edidi, Princess Charlene of Monaco,Their Serene Highness Prince Albert II of Monaco, Britnie Narcisse, Abigail C. Onwunali, Shayok Misha Chowdhury and Héctor Alvarez attend the 2022 Princess Grace Awards at 583 Park Avenue on November 03, 2022 in New York City.

Dave Kotinsky/Getty Images for Princess Grace Foundation

Previous award winners include famous names like Leslie Odom Jr., his wife Nicolette Robinson, Oscar Issac and director John M. Chu.

On the 40th anniversary of Princess Grace's death in September, Prince Albert remembered his mother's life and legacy in an exclusive interview with PEOPLE.

"It doesn't seem like 40 years," he said at the time. "Many times during a day, a week, not only do I find myself thinking of her, but numbers of people still recall her to me. They remember her and that's a great tribute to her and who she was — to what an exceptional human being she was."

American actress Grace Kelly on the set of Rear Window, directed and produced by British Alfred Hitchcock.
American actress Grace Kelly on the set of Rear Window, directed and produced by British Alfred Hitchcock.

Paramount Pictures/Sunset Boulevard/Corbis via Getty Grace Kelly on the set of "Rear Window"

RELATED: Prince Albert Remembers His Mother Princess Grace on the 40th Anniversary of Her Death

"Forty years on, she still captures people's imagination," he continued. "She managed to capture the imagination and attention of several younger generations and not many have done that. It's an incredible gift that she had."

"She had charm and incredible allure about her. And It's not only her beauty or the fashion icon that she was that attracts people," the prince explained. "It was her warmth, her heart, the humanity people saw in her that they remember."

Princess Grace of Monaco and son Prince Albert of Monaco attend a party Maxim's restaurant in Paris in 1978.
Princess Grace of Monaco and son Prince Albert of Monaco attend a party Maxim's restaurant in Paris in 1978.

Bertrand Rindoff Petroff/Getty Princess Grace and Prince Albert in Paris in 1978

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In a moment of reflection, he concluded, "If I could speak to her, I would say that I wish she were here to see her grandchildren and how great they are. They're great kids."

Prince Albert and Princess Charlene are parents to twins Prince Jacques and Princess Gabriella, who turn 8 next month.