Winning Bids for Rio Tinto Pink Diamonds

A total of 65 pink diamonds were sold to 17 successful bidders from around the globe, many at record breaking prices, during the 23rd annual Rio Tinto Diamonds Argyle Pink Diamond Tender, held in Perth, Australia, Hong Kong, and New York.

The exclusive diamond sale featured the world’s rarest pink diamonds from the Argyle mine in Australia, with about 100 key clientele personally viewing the diamonds in secret locations.

The Argyle Signature Stones picked for 2007’s tender attracted substantial interest due to the range of vivid and deep colors. Purplish reds, deep pinks, and a rare grey-violet diamond were included in this year’s collection, Rio Tinto said in a statement.

Details of winning bids for the diamonds, amount of bidders, and total revenue generated from the Tender are not disclosed to protect successful bidders’ confidentiality. However, Rio Tinto pink diamonds are known to command prices exceeding $400,000 per carat, 20 times the price of equivalent white diamonds, due to rarity and market demand.

Leading colored diamond designer and luxury retailer, John Calleija, did participate in the tender for the 11th consecutive year, and spoke about it.

"I was thrilled to successfully win four diamonds, including three of the incredible purplish red diamonds," he said. "I am already planning jewellery designs for my Argyle Signature Stones, which will be the flagship of my new London store."

The Rio Tinto Pink diamonds are predicted to run out by 2018.

Diagem Updates Trade on 9ct+ Pink Diamond

Six months ago, Diagem Inc. of Canada purchased a 9.32ct pink rough diamond from an artisan miner in Brazil for about $445,000. The miner held a permit to mine diamonds on Diagem's property 370/98. At the time it was estimated the rough stone would end up as a 5ct heart shape polished diamond, but it turns out that estimate was a little optimistic.

Diagem shipped the diamond to the Natural Diamond Corporation of Belgium for analysis, cutting, and polishing.

Jacky Lewy, a director of Diagem and a principal of Natural Diamond, has been directing the cutting and polishing process, which is nearly complete at 3.13cts.

The heart-shaped, orangey-pink diamond (pictured) has peaked the interest of some auction houses.

According to Lewy, "Christie's has expressed interest in including the diamond in its next auction or the auction preceding Valentine's Day. Other houses are also showing interest."

Lewy and others who have examined the diamond express confidence that the diamond will likely achieve a significant value, but the company cautioned that it is not possible to obtain a definitive valuation because of the unique and rare nature of the diamond.