Industry News by Nemesis

Graff Among Buyers at Record Pink Diamond Sale

November 11, 2017

 

Rio Tinto reported “double-digit” price growth at this year’s Argyle Pink Diamonds Tender, with Graff Diamonds among the companies putting in winning bids. 

Collectors and jewelers from 11 countries bought the 58 pink, red and violet diamonds originating from the mine in Australia, Rio Tinto said Thursday. These included the radiant-cut, 2.11-carat, fancy red Argyle Everglow (pictured, below), which sold to New York-based Optimum Diamonds for the highest price in the annual tender’s 33-year history. 

 

 


Rio Tinto did not disclose the exact sum, as it does not share financial details of its annual tenders. 

Optimum also won the radiant-cut, 0.91-carat, fancy deep grey-violet Argyle Liberté. Meanwhile, Graff snatched up the cushion-shaped, 2.42-carat, fancy purple-pink Argyle Avaline (above) — the largest pink in this year’s collection. Israel-based Leibish & Co. won three stones, a spokesperson for the company said.

“We will take great care to respect the delicate beauty of Argyle Avaline as we craft a setting for this exquisite and exceptionally rare diamond,” said Laurence Graff, founder and chairman of Graff Diamonds. 

The tender achieved a “record result,” reflecting strong global demand for Argyle’s rare colored diamonds, Rio Tinto said. 

“The market fundamentals for pink diamonds — strong demand for a product that is both limited and finite — continue to support their significant value appreciation,” said Alan Chirgwin, the miner’s vice president of sales and marketing for copper and diamonds. 

 

Source: Rapaport

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