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Record Result at 2017 Argyle Pink Diamonds Tender


Rio Tinto’s annual Argyle Pink Diamonds Tender – which this year featured 58 rare pink, red and violet diamonds from the Argyle mine – achieved a record result.


The mining firm said the amounts paid – which it does not publicly reveal – were a reflection of robust global demand for such rare gems.

The 58 pink, red and blue diamonds, known as Custodians of Rare Beauty, was highly sought after with the winners comprising collectors, connoisseurs and luxury jewelers from 11 countries spread in Asia, Europe, Middle East, North America and Oceania.

Double digit price growth which has been seen in the prices paid for many years continued, with the 2.11-carat Argyle Everglow becoming the most valuable diamond in the tender’s 33-year history, Rio Tinto said.

New York-based diamantaire Optimum Diamonds LLC, which specializes in extremely rare natural fancy color diamonds acquired the Everglow, which was the largest Fancy Red diamond on offer at the tender. Optimum Diamonds LLC also bought the Argyle Liberte, a 0.91-carat violet diamond.

Meanwhile, international luxury jewelry house Graff Diamonds which is based in London, was the buyer of the largest pink diamond in the collection – the 2.42-carat cushion shaped Argyle Avaline.

Rio Tinto Copper & Diamonds Sales & Marketing vice president Alan Chirgwin commented: “The market fundamentals for pink diamonds – strong demand for a product that is both limited and finite – continue to support their significant value appreciation.”

The stones were all from Rio Tinto’s Argyle diamond mine in the northern part of Western Australia which produces almost all the world’s pink, red and violet diamonds. Less than 0.1 per cent of the Argyle production is of pink, red and violet diamonds.

picture credit: wikimedia commons

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