You might already know that around 90% of the world’s supply of pink diamonds is found in the Argyle mine in Western Australia, although they can also be found in Brazil, Russia, Siberia, South Africa and Canada. Pink diamonds are very rare, expensive and highly sought after. They can cost up to 20 times that of an ordinary white diamond and, in fact, the most valuable gem the world has ever seen was a pink diamond. In Australia, the Argyle mine is the only major source of pink diamonds, which offers an annual tender comprising of various pink diamonds, including blue and red diamonds at each end of the colour scale.
Keep reading to learn about the some of the largest ‘pink’ diamonds that have been found in Australia.
The Argyle mine
Located in the north of Western Australia, approximately 550 km from Darwin, is the world famous Argyle mine. Not only is the Argyle mine a big producer of diamonds in terms of volume, it has also produced the largest pink diamonds found in Australia. It’s actually due to close by 2020, which could signal an even further increase in the rarity and value of pink diamonds. It employs about 500 workers, and the pink diamonds that the mine produces are sold through specialised teams to jewellers worldwide. They’re offered through an annual diamond tender called the annual ‘Argyle Pink Diamond Tender’.
The Argyle Pink Jubilee
A 12.76 carat diamond was found at the mine in 2012, which is the biggest pink diamond ever found at the Argyle mine. At the time of discovery it was reported to be worth at least AUD $10 million, and was the most valuable pink diamond found in the 26 years of production up until that point. In comparison, most diamonds produced at the mine are tiny, less than .10 of a carat.
Called the Argyle Pink Jubilee, the final cut version weighed in at 8.01 carats, however during the cutting process it was found to have a fault line within the diamond, and as a result, it was only partially cut and polished. While it was originally earmarked for sale at the Argyle Pink Diamonds Tender, it was later donated to the Melbourne Museum by Rio Tinto, as a record of Australian mining and part of the ‘Dynamic Earth’ exhibition.
The Argyle Phoenix
At the deepest end of the pink diamond colour scale is red and purplish-red colours. The largest ‘red’ coloured diamond was put up for sale in 2013. It was a 1.56 carat gem, part of a first time offering in which the Argyle mine provided three ‘red’ stones in the 2013 Argyle Pink Diamonds Tender. The tender comprised 64 diamonds, with 58 of those in the pink colour scale, and three in the ‘blue’ and ‘red’ scales respectively. Prior to the 2013 tender, only six diamonds certified as red had been presented for sale in any given tender from the mine, and as such, the Argyle Phoenix marked a very significant moment in time for collectors of rare stones.
It’s not known how diamonds gain their colour, yet the rarity and uniqueness of coloured diamonds fetches astonishing prices. The Argyle Phoenix sold for a record $2 million, at the time it was the highest price for a single diamond that had ever been sold from the mine. In the same tender there was also a record number of bids above $1 million for the other stones in the collection, signalling the increase of appreciation and demand for coloured diamonds.
The Argyle Violet
Offered in the 2016 tender, the largest violet diamond ever produced by the Argyle mine (and in fact the world), was the cut Argyle Violet stone. It was 2.83 carats and has been described as ‘impossibly rare’. When it was discovered, it weighed in at a massive 9.17 carats, however this included etchings, pits and crevices. It was given it’s own unique colour classification, ‘Fancy Deep Grayish Blueish Violet’.
The winning bid was not disclosed, but is estimated to be somewhere between AUD $3 – 5.5 million, although others have placed the winning bid at more than $10 million. It was purchased by New York based L.J. West Diamonds, which is one of the world’s most distinguished houses for rare and exotic fancy coloured diamonds.
Owning a pink diamond
If you’re a serious investor and have plenty of money on hand, then you just might find yourself contemplating the purchase of a unique headlining Argyle pink diamond from the annual offering. But, it’s also possible to find smaller Argyle pink diamonds in various specialised jewellers around the world. The Argyle mine is forecast to close by 2020, and with an estimated tender of less than 500 quality stones left to be discovered, Argyle pink diamonds will likely remain in high demand for years to come, especially as supply reduces. Keep your eyes peeled for another large and unique pink diamond in the next few years – it may be one of the last ones you see from the renowned Argyle mine.
by Australian Diamond Brokers : March 15th 2017 Come visit our store or browse our website to find out more.