Rio Tinto Unveils a Rare Red Diamond Tender

August 13th, 2014 by Noam Flint

Whenever Rio Tinto, launches a pink diamond auction, you know it’s going to be awe-inspiring. After all, the firm’s Argyle Mine produces a staggering 90 percent or more of the global supply of pink diamonds.

The mammoth mining company’s recent tender, though, takes things to a whole different level of dazzling – and so there’s no doubt that it will attract global attention from diamond investors and collectors.

A special red release

In celebration of the 30th anniversary of Rio Tinto’s highly anticipated annual pink tender diamonds, the firm recently unveiled a collection in Australia with a record four fancy red diamonds that are expected to attract bids exceeding $1 million per carat. According to The Israeli Diamond Institute, more than one of these stones are anticipated to sell for more than $2 million. Another prediction, the source noted, is that these diamonds may end up being owned by celebs, as A-listers like Kim Kardashian and Mariah Carey have been sporting colored diamonds in recent years.

In total, the tender includes 55 diamonds, 51 of which are pink and purplish-red diamonds. Considering that pink diamonds and especially red diamonds are highly sought after and are becoming increasingly harder to come by, it’s no surprise this auction is generating substantial buzz. The Israeli Diamond Institute reported that a 1.9 carat red-diamond named the Argyle Renaissance raked in $3 million, or $1.6 million per carat, just last year.

And let’s not forget last year’s Argyle Phoenix, a 1.56 carat red diamond that sold for over $2,000,000 per carat.

The Highlights – Argyle Cardinal, Argyle Rosette & Argyle Toki

While each of the stones in this tender is jaw-dropping in its own right, the highlight or “hero” is obvious: a 1.21-carat radiant-cut fancy red diamond called the Argyle Cardinal. It was named after the small red North American bird, a theme that applies to other pieces in the collection, such as the Argyle Rosette, a 2.17-carat fancy intense purple-pink emerald-cut diamond, and the Argyle Toki, a 1.59-carat fancy intense purplish-pink emerald-cut diamond.

“We are delighted to present the 2014 Argyle pink diamonds tender to the world and celebrate the beauty, rarity and extraordinary provenance of these diamonds,”

said Argyle pink diamonds manager Josephine Johnson. “These are all one-of-a-kind gems that will take their place in the history of great collectible diamonds.”

Interested parties can view the diamonds at upcoming showings in New York, Sydney, Perth and Hong Kong. The bidding on these spectacular stones closes Oct. 8.

Will you be there?