Rio Tinto’s 2020 Argyle Pink Diamonds Tender collection of 62 rare pink, red, blue and violet diamonds from its now-shuttered Argyle mine in Australia has delivered a record result, reflecting their extraordinary rarity and unique provenance.
The 2020 collection continued its trajectory of double-digit price growth and a record number of participants with successful bidders from eight countries. Whilst bids and values remain confidential, Lot Number 1, the 2.24-carat Argyle Eternity, the most valuable diamond in the collection and the most valuable fancy vivid diamond in the Tender’s 37-year history, was sold to Hong Kong fancy coloured diamond specialist, Kunming Diamonds, which successfully bid for other lots in the Tender.
Other record-breaking diamonds from the 2020 Argyle Pink Diamonds Tender included Lot Number 6, Argyle Infinite, a 0.70-carat oval Fancy Dark Violet-Gray diamond which will take its place in Argyle history as the most valuable diamond in this colour category ever produced at the mine and presented at the annual Tender.
Almost the entire world’s supply of rare pink, red and violet diamonds come from Rio Tinto’s Argyle diamond mine which ceased production on 3rd November, 2020, after 37 years of production. Shaped by the forces of supply and demand, the value of Argyle pink diamonds sold at Tender has appreciated over 500% over the past two decades, outperforming all major equity markets.
Patrick Coppens, General Manager of Sales and Marketing for Rio Tinto’s Diamonds Business, said, “We are delighted with the results of the 2020 Argyle Pink Diamonds Tender, a testament to the unique Argyle ore body and its place in the history of the world’s most famous diamonds.”
The Covid-19 pandemic presented challenges for the 2020 Argyle Pink Diamonds Tender, delaying the launch and reducing the number of face to face viewings due to travel restrictions. To overcome this, live streaming and an exclusive virtual portal allowed bidders from around the world to see the display of the dazzling gems, supported by technology to enable exacting colour calibration and magnification of the diamonds.
The 2020 Argyle Pink Diamonds Tender was the penultimate showcase with a final Argyle Pink Diamonds Tender occurring in 2021, drawing upon the 2020 production from the closed Argyle mine.
Caption: The Argyle Pink Diamonds Signature Tender 2020 hero collection.
Photo courtesy: Rio Tinto