Rare red and pink diamonds shine for Rio Tinto

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Exceptional tender results achieved as prices triple in 14 years.

Rio Tinto has celebrated its 30th anniversary by auctioning a collection of 54 rare pink and red diamonds from its Argyle mine, achieving the highest average price per carat since the tender began in 1984.

The recent Argyle Pink Diamonds Tender attracted a record 600 bids from an international crowd of diamond merchants, with successful bids submitted from ten countries.

Rio Tinto Diamonds managing director Jean-Marc Lieberherr said: “We are delighted with this result which reflects the global appeal and enduring value for these increasingly rare and iconic gems.”

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Bids and total values from the Argyle Pink Diamonds Tender remain confidential, but Rio Tinto has confirmed that average prices for its signature pink diamonds have tripled since 2000.

The most valuable diamond in the 2014 collection was the Argyle Cardinal – a 1.21ct radiant cut fancy red diamond which was sold to one of Argyle’s exclusive retailers, Glenn Bakker Jewel, for an undisclosed sum.

Buyer Glenn Bakker commented: “This red diamond is of exceptional rarity and as its custodian I am humbled to be a part of its incredible journey that spans more than 1.6 billion years. It gives me the rarest of opportunities to develop a creation that will dignify its place in Australian history.”

In its 30 year history the Argyle Pink Diamonds Tender has offered only 13 fancy red diamonds, with just three of these gems larger than one carat.

 

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