Scarcity pushes up prices. Top-quality coloured diamonds, especially pink and blue, have proved to be an attractive, tangible and wearable investment. According to a recent Fancy Color Research Foundation study, pinks even outperformed blues and others in the first quarter this year. The annual Argyle Pink Diamonds Tender by Rio Tinto later this year shall be particularly attractive due to its ceasing production by late 2020.
Titled ‘The Quest for the Absolute’, the 2019 Argyle tender is arguably one of the last collections of the world’s rarest pink and red diamonds by Rio Tinto. In an exclusive preview at the site in the east Kimberley region of Western Australia, the miner unveiled the 64-diamond collection weighing 56.28 carats in total, including three fancy red diamonds.
“I am delighted to be at the Argyle mine for this exclusive world preview. These diamonds, each a natural treasure, are a testament to the enormous range and depth of offering from the Argyle ore body, nearly four decades from when production commenced,” said Rio Tinto copper and diamond chief executive Arnaud Soirat.
“Rio Tinto’s Argyle mine is the first and only ongoing source of rare pink diamonds in history. With the lifecycle of this extraordinary mine approaching its end, we have seen, and continue to see, unstoppable demand for these truly limited-edition diamonds and strong value appreciation,” he continued.
Six most coveted diamonds in the 2019 tender are:
• Argyle Enigma, 1.75 carats modified radiant fancy red diamond
• Argyle Amari, 1.48 carats heart-shaped fancy vivid purplish pink diamond
• Argyle Elysian, 1.20 carats modified cushion-shaped fancy vivid pink diamond
• Argyle Verity, 1.37 carats oval-shaped fancy vivid purplish pink diamond
• Argyle Opus, 2.01 carats round-shaped fancy intense pink diamond
• Argyle Avenoir, 1.07 carats oval-shaped fancy red diamond
As the supply of pink diamonds from the Argyle mine sold at the Rio Tinto tender has become scarcer and scarcer, the value of pinks has increased by 500 percent over the past 20 years.
According to Rio Tinto, there are sufficient reserves at the mine to support production until the mine closes in late 2020 when as much as 90 percent of the global production of pink diamonds will stop. The scarcity and sustained demands will only make pink diamonds more attractive.
Top pinks auctioned in 2018
The Winston Pink Legacy
Rectangular-cut, 18.96-carat, fancy vivid pink, VS1 clarity diamond set in a ring
Sold for US$50,375,000
(World auction record price per carat for a pink diamond US$2,656,909)
Christie’s Geneva, November 2018
Heart-shaped pendant
Necklace set with a heart modified brilliant-cut, 15.56-carat, fancy intense pink, VS1 diamond
Sold for US$9,537,500
Christie’s New York, December 2018
Light pink cushion
Cushion-shaped, 21.192-carat fancy-light pink claw-set diamond ring
Sold for US$7,374,345
Sotheby’s Geneva, November 2018
Fancy pink square
Square-cut, 5.03-carat, fancy pink VS1 diamond
Sold for US$2,935,263
(World auction record per carat for a fancy-pink diamond US$583,551)
Bonhams London, September 2018
Fancy deep orangy pink retangular
Ring with a rectangular-cut 8.25-carat, fancy-deep-orangy-pink VVS1 diamond
Sold for US$3,732,500
(World auction record price per carat for an orangy-pink diamond US$452,424)
Christie’s Geneva, November 2018