Pink Diamond Tender Yields Strong Results

A strong market for pink diamonds was demonstrated at Rio Tinto's 24th annual Argyle Pink Diamond Tender despite global economic turbulence.

Josephine Archer, Argyle Pink Diamonds Sales and Marketing Manager, stated: "The Argyle pink diamonds selected for the 2008 tender attracted substantial interest from an increasing number of investors and is evidence that the increasing rarity of these stones is becoming more valuable and sought after over time."

Rio Tinto does not release information regarding the successful bidders, nor the prices. Buyers for this year's tender reportedly included investors, individual diamantaires, jewelry manufacturers and luxury retailers.

This year's tender, which was held from August to October in six major cities, contained a record number of round diamonds, including two named stones, Aphrodite and the Ocean Seer. Also featured were the tender's first heart-shaped pink diamond in several years; and three rare violet colored diamonds.

For the first time, Rio Tinto placed reserve prices on the collection due to the increasing rarity of these fancy colored diamonds. The source of the rare pink diamonds, Australia's Argyle mine, is scheduled to close in 2018. 
 
(Rachel Lieberman, Israel Diamond Industry Portal)