Solid demand boosts Argyle pink diamonds sale

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Solid demand boosts Argyle pink diamonds sale

Citing strong global demand for fancy colour diamonds, Rio Tinto said its 2018 Argyle Pink Diamonds Tender collection of 63 rare pink, red and violet diamonds delivered record results.

“The 2018 collection of the finest pink, red and violet diamonds from the iconic Argyle mine in Australia continued its trajectory of double-digit price growth. Sold to an undisclosed buyer, the Argyle Muse™, a 2.28-carat fancy purplish red diamond is the most valuable diamond in the tender’s 34 year history,” revealed the diamond miner.

Another star diamond in the collection was the Argyle Alpha™, the “largest and most valuable vivid pink diamond” in the history of the Argyle Pink Diamonds Tender, which was won by Singapore-based Argyle Pink Diamonds partner Glajz THG.

According to Rio Tinto, the value of Argyle pink diamonds sold at tender have appreciated over 400 percent over the past 18 years, outperforming all major equity markets.

Rio Tinto Copper & Diamonds chief executive Arnaud Soirat commented, “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.”

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.

News Source: jewellerynet.com

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Disclaimer: This information has been collected through secondary research and TJM Media Pvt Ltd. is not responsible for any errors in the same.

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