I Am Where Pink Meets Orange, and Sanskrit Encounters German

I AM THE MOST rare, prized and mispronounced fancy corundum in the world; a result of an etymological journey that had its origins in ancient Sanskrit and made its way via Sinhalese to German before reaching English. As a jeweler, I fancy you know me, although it’s less likely you have held a truly fine specimen of me (meaning at least 5 carats, no inclusions with a lobsterish glow — MSRP: $$Squillions!!). As for that pronunciation, I rhyme – appropriately with Maharaja.

Who am I?