The demand and price of rare pink diamonds continued to soar with the recent results from Rio Tinto’s annual Argyle mine auction. At the Sydney auction, the company offered the year’s collection of 56 pink diamonds (which included 2 red stones), and 19 blue diamonds. Pink diamonds are considered the world’s rarest, with red diamonds viewed at the most valuable of the valuable. In over 25 years, Rio Tinto has only offered 33 such red diamonds.
Investors from countries all over the world were represented. Although prices are confidential in this closed auction, the most expensive piece sold was likely the Argyle Siren. The Siren (pictured above) is a purple-pink stone that weighs 1.32 carats. The square cut gem, when made into jewelry is expected to bring in 2.5 million dollars.
The Argyle mine produces the vast majority of pink diamonds in the world. To give you an idea as to the rarity and value of pink diamonds, it is said pink diamonds can be worth up to 50 times that of a white diamond. Not only are the pink stones rare and beautiful, they have proven to be a good investment. It is an investment that continues to look solid as Rio Tinto now is saying the supply of these valued pink diamonds at the Argyle mine may only last another 10 years. If this finite supply comes to fruition, the heavy bidding and high prices of the recent auction may just be the beginning.
Rio Tinto is a diverse mining company that mines not only diamonds, but other natural resources. They provided the metal for the 4,700 gold, silver and bronze medals for this year’s London Olympics.
If you are considering a valuable asset that is liquid, travels well, and has a solid looking future, perhaps you should consider looking into pink diamonds. If the recent activity at the Rio Tinto Argyle mine auction is any indication, the future is pretty in pink.
Raymond Z for Raymond Lee Jewelers, South Florida’s premiere source for buying and selling luxury watches and designer jewelry.