Argyle Diamond Tender
One of the most anticipated events in the world of diamonds is the Argyle Pink Diamond Tender. The annual event is held by Rio Tinto to promote the diamonds of their Australian Argyle mine. The majority of the diamonds are pink, the most famous pink diamonds in the world, but they also showcase red, blue, and other colors from the previous year’s production. These stones routinely set records for dollars per carat, with one red stone from the previous year’s tender setting a stunning price in Hong Kong in November of 2014. The 2.09 carat SI2 Fancy Red went for $2,440,000 per carat, surging significantly past the previous record sale for a fancy red diamond.
The 2015 Tender showcased 65 diamonds, with a total carat weight of 44.14 carats, with five “hero” stones to herald the rest of the collection. If you’re thinking that an average of 1.47 carats is not all that impressive, you might be mistaken. The auction news is chockablock with 10+ carat stones in shades of blue, yellow, pink, and other fancy shades. Competition is fierce, but the pink and red stones’ rarity makes them a nearly no-fail investment for the selected invitees. Most of the 2015 stones had inclusions, and the shades ranged from passionate, deep red to a cool Fancy Gray Blue.
The premier stones of 2015 were three Fancy Reds, one Fancy Vivid Purplish Pink, and one Fancy Intense Pink. The Allegro (1.95 carats radiant cut), the Aurora (1.47 carats oval cut), and the Prima (1.20 carat pear cut) carried the reds and are likely to turn up in stunning, record price fetching creations or in investors’ vaults until they decide to go to a top-tier auction house such as Christies or Sotheby’s. Some of the offerings are now available online, with GIA ratings from I1 and 12 (inclusions visible to the naked and untrained eye) to VVS1. Rio Tinto does not divulge the identities of those who purchase their diamonds, though certainly the buyers are free to do so.
Colored Diamond Futures
Much has been made of Rio Tinto’s scaling back of diamond production in response to a worldwide glut and a correction in the Chinese economy. Despite this, the auctions and tenders will continue to attract investors and aficionados of colored diamonds no matter the economy. Since colored diamonds are the rarest diamonds of all, the prices paid for these items will continue to outstrip all but the most exemplary of colorless diamonds. Rio Tinto’s colored diamonds are cut in house, and to exacting standards, so there is a guarantee in the quality of the product. Possibly the only danger to the Argyle Tender comes from an Ellendale mine scenario in which the quality of the stones being mined drops so suddenly and precipitously that the operation becomes unviable. In which case, those with the stones will find themselves holding something rare indeed.
For more information about pink diamonds, see the links below:
- Innovative Concept for Selling Pink Diamonds
- Ten Things You Should Know About Pink Diamonds
- Pink – The Uncommon Diamond Color