The article presents the results of the first comprehensive study of mineralogical and spectroscopic (IR, PL, EPR) characteristics of diamonds from the Lomonosov mine (Arkhangelskaya pipe) with a unique pink, pink-violet colour. It is shown that all crystals belong to the IaA type, with a total nitrogen content in the range of 500-1500 ppm, with a low degree of aggregation. The colour is heterogeneous, concentrated in narrow twin layers. It is presumably caused by the previously described M 2 centres. The colour shade is affected by the content of P 1 paramagnetic centres ( C -defect). A positive correlation is observed between the colour saturation and the intensity of W 7 paramagnetic centres. A convergent model of the formation of pink diamonds is assumed, according to which the determining factors are the ratio and concentration of structural impurities in the diamond, its thermal history, and conditions of plastic deformation, and not the origin of the diamond and the petrochemical properties of its host rocks.