Themed ‘Custodians of Rare Beauty’, the Rio Tinto 2017 Argyle Pink Diamonds Tender collection has achieved a record result, with the headline lot Argyle EverglowTM being the most valuable stone in the tender’s 33-year history.
The 2017 tender comprised of 58 rare pink, red and violet diamonds weighing a total of 49.39 carats. Before the bidding closed on 11 October, the collection travelled to Perth, Hong Kong and New York.
According to Rio Tinto, the 2017 tender continued to record double-digit growth in price. Successful bidders were collectors, connoisseurs and luxury jewellers from 11 countries and regions across Asia, Europe, Middle East, North America and Oceania.
The largest and only fancy red diamond over two carats ever presented at the Argyle Pink Diamonds Tender, the 2.11-carat VS2 radiant-cut Argyle EverglowTM is also one of the three fancy red diamonds carrying VS clarity in the tender’s history. The stone, cut from a 4.38-carat rough discovered in January 2016, was acquired by Optimum Diamonds LLC, the United States.
David Shara, CEO of the New York diamantaire, said: “Optimum Diamonds is delighted to have won the Argyle Everglow™. This historic red diamond is one of the diamond world’s rarest treasures and it is a privilege to be able to add it to Optimum’s collection. The Argyle Liberte™ is a mesmerising violet diamond that fits perfectly with Optimum’s quest for the truly exceptional in the world of fancy coloured diamonds.”
The 2.42-carat cushion-shaped Argyle AvalineTM, the largest pink diamond in the collection, was won by Graff. “We have always been passionate about pink diamonds, acquiring these incredible miracles of nature is a pleasure and an honour. We will take great care to respect the delicate beauty of Argyle Avaline™ as we craft a setting for this exquisite and exceptionally rare diamond,” said Laurence Graff, founder and chairman of the renowned jeweller.
When commenting on the tender result, Rio Tinto’s copper & diamonds sales & marketing vice president Alan Chirgwin said: “We are delighted with the 2017 Argyle Pink Diamonds Tender results. The market fundamentals for pink diamonds – strong demand for a product that is both limited and finite – continue to support their significant value appreciation.”
Argyle Pink Diamonds works with an exclusive network of ‘Authorised Partners’ and ‘Selected Ateliers’ who are the wholesale/distribution and retail partners respectively. Among the 14 authorised partners are Glajz-THG Pte Ltd from Singapore, Kashikey Co, Ltd from Japan and Optimum Diamonds from the States.
Pink diamonds from Argyle come in a very small volume with only 3,000-4,000 polished carats a year. According to Michelle Hartwell, account manager of Rio Tinto Diamonds & Argyle Pink Diamonds, the annual tender represents only 50 to 60 pieces of top stones of the annual production, and the balance goes into the allocation of regular sales to the 14 customers.
The world’s most consistent source of pink diamonds, Rio Tinto’s Argyle mine in the north of Western Australia produces virtually the world’s entire supply of pink, red, violet and blue diamonds. According to the miner, the mine will be depleted in 2021.
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