Pink diamonds from the Rio Tinto Argyle Tender come from the Argyle Mine in Kimberley, Australia. This mine is the largest producer of pink diamonds in the world, producing nearly 90% of the world’s supply of pink diamonds. The mine has announced its impending closure in 2020 as supply is anticipated to run out by this time. It seems likely that when the mine closes, the annual tender will likely cease to exist, making the diamonds being sold at the next handful of tenders even more desirable.
How the Tender Works
Each year, a stunning collection of diamonds is assembled by Rio Tinto’s Argyle Mine and featured in their Annual Tender. The collection then travels around the world to a handful of invitation-only events where potential buyers can preview the special pink diamonds. The bidding for the Tender is set to close on October 12th, 2016 when some limited information about the buyers and sales prices may be released. As is common with many high-end diamond auctions, the identity of buyers and the final sales prices may not be disclosed in order to preserve the buyer’s anonymity.
This year the diamonds in the collection of the Argyle Pink Diamond Tender traveled to Copenhagen, Hong Kong, Perth, and New York. Roughly 200 VIP attendees were allowed an hour to view the diamonds and place their bids. Prior to the event, guests are given a catalog with the specifics of each diamond being offered. The catalog itself is highly collectible since only invited guests receive them. The catalogs have even been known to appear on online auction sites after the close of the tender.
The 2016 Argyle Tender
The announcement of the 2016 Argyle Pink Diamond Tender took place on June 7, 2016 in Copenhagen, Denmark. Rio Tinto’s Chief Executive Alan Davies, in conjunction with the Rio Tinto’s Australian Ambassador, Damien Miller, introduced the collection which features 63 colored diamonds. The title of this year’s collection is “The Chroma Collection” because of its vibrant color make-up. The lion’s share of the collection is comprised of 57 pink diamonds, with four red diamonds, and two violet diamonds also being featured.
Each year, Rio Tinto selects a handful of “hero stones” which are featured as the highlights of the tender. This year the Argyle Tender has five featured diamonds including two violet diamonds, two purplish-pink diamonds, and one fancy red diamond. Below are the specifics for each of the featured diamonds:
- The Argyle Violet™ is a 2.83 carat oval shaped violet diamond.
- The Argyle Ultra™ is a 1.11 carat pear shaped violet diamond.
- The Argyle Viva™ is a 1.21 carat pear shaped vivid purple-pink diamond.
- The Argyle Thea™ is a 2.24 carat radiant cut vivid purplish pink diamond.
- The Argyle Aria™ is a 1.09 carat oval shaped fancy red diamond.
Be sure to check back for details on the results of the Rio Tinto Diamond Auction after the close of the auction on October 12th, 2016.
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