Rio Tinto said that its 2018 Argyle Pink Diamonds Tender collection of 63 pink, red and violet diamonds from its Argyle mine in Australia, has delivered another record result reflecting strong global demand for fancy coloured diamonds. According to the company, these results are also a reflection of Argyle approaching the end of its mine life, with the supply of these extremely rare diamonds becoming even scarcer.
The 2018 collection of pink, red and violet diamonds from the iconic Western Australian mine continued its trajectory of double-digit price growth. Sold to an undisclosed buyer, Lot 1, the Argyle Muse, a 2.28-carat fancy purplish red diamond, is the most valuable diamond in the tender’s 34-year history. Also amongst the record-breaking diamonds sold in the 2018 collection was Lot 2, the Argyle Alpha, the largest and most valuable vivid pink diamond in the history of the Argyle Pink Diamonds Tender. The stone was won by Singapore based Argyle Pink Diamonds partner Glajz THG. Managing director John Glajz said, “I am honoured to be custodian of this record-breaking gem, a diamond that embodies the rarity, beauty and provenance of Argyle pink diamonds.”
Over the past 18 years the value of Argyle pink diamonds sold at tender have appreciated over 400 per cent, outperforming all major equity markets. Rio Tinto Copper & Diamonds chief executive Arnaud Soirat said, “The 2018 Argyle Pink Diamonds Tender was highly sought after with record results that underscore the value of these gems in the history of rare coloured diamonds.” Matthew Aldridge, chief executive of Gemcut Geneva, a successful bidder on a number of diamonds in the 2018 tender, including Lot 5, the Argyle Odyssey, a 2.08-carat fancy intense pink diamond, said, “I have been bidding at the Argyle Pink Diamonds Tender since 1987 and continue to be amazed by the magnificent potency of colour of these unique diamonds from this extraordinary mine. As an avid collector of the world’s finest fancy coloured diamonds, I was especially delighted to win the Argyle Odyssey, a match for another diamond that was sold in the tender over fifteen years ago.”
Almost the entire world supply of rare pink, red and violet diamonds come from Rio Tinto’s Argyle diamond mine in the remote east Kimberley region of Western Australia. Current estimates indicate sufficient economic reserves at the mine to support production through to the end of 2020.