Diamond News - Week of October 12, 2014

Four Rare Fancy Vivid Red Diamonds offered in the 30th annual Argyle Pink Diamond Tender

Rio Tinto Diamonds just closed bidding on the Argyle Pink Diamonds Tender collection, celebrating the iconic event's 30th anniversary. Running from September 5, 2014 to October 8, 2014, this year's Tender showcased four rare red diamonds. The showcase of the four is a 1.21 radiant cut diamond named the "Argyle Cardinal", after the North American bird (pictured second from the left). The other three fancy red diamonds include a round cut, pear cut and emerald cut. The Israeli Diamond Institute expects more than one of the four red stones to sell for more than $2 million each.

Rio Tinto wholly operates the Argyle mine in western Australia which produces over 90% of the world's pink diamonds. Rio Tinto also has partial ownership or interest in mines in Canada, Zimbabwe, and India. Prior to this year's Tender of 4 reds, only 9 other rare reds had ever been offered. The other 51 stones offered this year were purplish red or pink diamonds. The Tender began its journey in New York and visited Perth, Hong Kong and closed in Sydney, Australia with bids closing on October 8th. Other noteworthy "birds" expected to wow were the Argyle Rosette, a 2.17-carat fancy intense purple-pink diamond (below left) and the Argyle Toki, a 1.59-carat fancy intense purplish-pink diamond (below right). Both are emerald cuts.

October seems to be a great month for fancy colored diamonds. On October 7th, a 8.41ct fancy vivid purple-pink diamond set a world sales price record for pink diamonds with a sales price of $17,768,041 or $2.1 million per carat at Sotheby's Auction house in Hong Kong.

Photos courtesy of Rio Tinto Diamonds