‘Healthy demand’ for pink diamonds as largest Fancy Red unveiled
If you’re a connoisseur of diamonds (and even if you’re not), you won’t be able to take your eyes off the crème de la crème of these rare coloured stones showcased in Perth last week.
Coined ‘The Argyle Everglow’, this 2.11 carat polished radiant cut diamond is the largest ‘Fancy Red’ diamond in the history of the Argyle Pink Diamonds Tender.
It is one of five ‘hero’ diamonds, chosen for their unique beauty.
Others include a 2.42 carat cushion shaped Fancy Purple-Pink diamond, a 1.14 carat radiant shaped Fancy Red diamond, a 1.50 carat oval shaped Fancy Deep Pink diamond and a 0.91 carat radiant shaped Fancy Deep Gray-Violet diamond.
There are 58 diamonds in the tender this year, weighing a total of 49.39 carats.
According to Rio Tinto chief executive Jean-Sébastien Jacques: “The market fundamentals for pink diamonds remain robust. The combination of healthy demand and extremely limited supply continues to support significant value appreciation for pink diamonds.”
Limited supply will continue to be a problem, with the East Kimberley Argyle mine set to close in 2021 and, as yet, no replacement mine found. Around 90 per cent of the world’s pink diamonds are from the Argyle mine.
The 2.42 carat Fancy Purple-Pink diamond, 'Avaline'
The diamond tender first took place in 1984 and created a sensation straight away as such a collection of pinks had never been seen together.
Since then, the diamond tender has travelled the world with beautiful and exceptionally rare offerings. This year, it will visit Perth, Hong Kong and New York.
According to Jacques: “This year’s Argyle Pink Diamonds Tender is an exceptional offering of the world’s most coveted diamonds. At more than a billion years old, each Argyle pink diamond is a fluke of nature, commanding the attention of investors, collectors and diamond connoisseurs across the world.”
Prices for the diamonds can exceed millions of dollars per carat. Connoisseurs, collectors and luxury jewellers can make sealed bids prior to October 11, 2017.