PERTH (miningweekly.com) – The latest tender of 62 rare pink, red, blue and violet diamonds from major Rio Tinto’s Argyle mine, in Western Australia has delivered a record result, reflecting their extraordinary rarity and unique provenance.
The 2020 collection continued its trajectory of double digit price growth and a record number of participants with successful bidders from eight countries.
The miner said this week that while bids and values remain confidential, Lot Number 1, the 2.24 ct Argyle Eternity™, the most valuable diamond in the collection and the most valuable fancy vivid diamond in the tender’s 37 year history, was sold to Hong Kong fancy coloured diamond specialist, Kunming Diamonds.
Kunming Diamonds was also the successful bidder of other lots in the tender.
“It is an extraordinary opportunity and a privilege to be part of the history making Argyle diamond mine. We are humbled to be the custodians of these iconic rare jewels and are delighted to be part of their enduring legacy,” Harsh Maheshwari, director of Kunming Diamonds said.
Other record breaking diamonds from the 2020 Argyle pink diamonds tender included lot number 6, Argyle Infinite™, a 0.70 ct oval fancy dark violet-gray diamond which will take its place in Argyle history as the most valuable diamond in this colour category ever produced at the mine and presented at the annual tender.
The Argyle mine which ceased production on November 3 this year, after 37 years of production. Shaped by the forces of supply and demand, the value of Argyle pink diamonds sold at tender has appreciated over 500% over the past two decades, outperforming all major equity markets.
“We are delighted with the results of the 2020 Argyle pink diamonds tender, a testament to the unique Argyle ore body and its place in the history of the world’s most famous diamonds,” said Rio’s GM of sales and marketing for its diamond business, Patrick Coppens.
Also included in the 2020 offering were 12 additional lots of carefully curated and never to be repeated sets of miniature rare Argyle pink, red, blue and violet diamonds, weighing 13.90 ct in total.
Titled The Petite Suites, the diamonds were meticulously collected over a five-year period, with each highly-considered parcel designed to strike a harmonious balance between size, shape, colour and clarity.
Demand for The Petite Suites was competitive particularly amongst luxury jewellers with a strong design sensibility.
The 2020 Argyle pink diamonds tender was the penultimate showcase with a final argyle pink diamonds tender occurring in 2021, drawing upon the 2020 production from the now shuttered Argyle mine.