Home Australia Argyle pink diamond mine closure prompts rush of demand for rare stones

Argyle pink diamond mine closure prompts rush of demand for rare stones

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Argyle pink diamond mine closure prompts rush of demand for rare stones

A personal sequence of rare Australian pink diamonds is anticipated to web up to $18 million when it goes up for sale subsequent week.

Key aspects:

  • A personal sequence of rare pink diamonds is anticipated to web up to $18 million
  • The closure of the Argyle diamond mine has introduced on a tall spike in demand and prices
  • Rio Tinto has opened bids for its closing Argyle Pink Diamond Gentle after 38 years of operation

Handiest months after the closure of the Argyle diamond mine in the East Kimberley, an Australian online start-up is offering the fundamental known public tender of the enduring pink gems which closes July 1.

Early Newspaper

The sequence of 33 pre-owned stones involves a two-carat intellectual pink, which by myself is estimated to be price up to $2.5 million.

Yourdiamonds.com CEO Tim Goodman acknowledged these gems are some of the most rare and treasured on this planet to hit the secondary diamond market.

“I have been listening to about this sequence for years, shiny whispers in the exchange,” he acknowledged.

“Clearly the mine’s had personal tenders for their purchasers, but there’s never been a probability for participants of the public to take pink diamonds bask in these.

‘Sequence of a lifetime’

Eleven of the stones being sold belong to infamous 78-year-extinct Brisbane collector Diosma Fitzpatrick, who obtained the Argyle pinks in the mine’s early days of production in the 1980s.

Mr Goodman, who has a prolonged association with the diamond exchange as an auctioneer, acknowledged the very best be conscious ever paid for a pink diamond was the 15.81 carat Sakura diamond for $US37.7 million — or $49 million in Australian dollar terms this day — in Hong Kong.

A closeup of a pair of tweezers holding vivid pink diamond

A pink diamond can even be price as unprecedented as 50 instances a white diamond of the an identical weight. (

Supplied: Australian Diamond Portfolio

)

Sydney-essentially based diamond consultant Anna Cisecki acknowledged with the closure of the Argyle diamond mine, which once produced more than 90 per cent of the world’s pink diamonds, a secondary diamond market was starting to emerge.

“Going forward we’re feeling reasonably incredibly optimistic on the outlook of the stones and set a matter to that a extraordinarily sturdy secondary market is going to emerge in pink diamond trading.

“We can already look it starting with this first public tender, and I am clear we are going to look more platforms emerge in the attain future.”

An investment for the long term

Ms Cisecki, who runs investment agency Australian Diamond Portfolio, acknowledged for the reason that Argyle mine ceased production in November, demand had never been increased.

“We’ve got had many purchasers walking thru the door throughout the final six months announcing they’ve been taking into consideration investing for a whereas, but that now truly does truly feel bask in that closing opportunity to get into the market.”

Over the lifestyles of the Argyle mine the price of stones has progressively increased, catching the attention of prosperous traders and self-managed superannuation fund trustees having a scrutinize to diversify their portfolios.

An open bank vault door

Many Traders take care of their pink diamonds saved in stable vaults for the long term.(

Supplied: Australian Diamond Portfolio

)

“Pink diamonds present a extraordinarily attention-grabbing opportunity to switch some of their cash true into a tangible asset that’s been rising in price more than 10 per cent per year for the closing 10-15 years,” Ms Cisecki acknowledged.

“Their inflation-holding qualities and abilities to generate stable prolonged-time length returns originate them heavenly investments of their include shiny.”

Ms Cisecki acknowledged an investment-mighty stone started at around $20,000 and may per chance per chance per chance per chance attract up to $3 million for a single carat.

A pink diamond can even be wherever between 25-50 instances the price of an an identical white diamond.

Argyle’s closing pinks, blues published

five diamonds of varying shades of pink and red

These hero stones are featured in the 2021 Rio Tinto Argyle Pink Diamond Gentle.(

Supplied: Rio Tinto Diamonds

)

At Linneys Jewelry in Perth, David Fardon has witnessed an prolong in enquiries about pink diamonds in present months.

He’s one of a handful of jewellers world wide who gets access to the Argyle Pink Diamond Gentle.

It is a blind public sale, where purchasers are invited to allege on diamonds which include never before hit the market — so rare that the total diamonds from the tender’s 38-year historical past may per chance per chance per chance per chance match true into a wine glass.

Mr Fardon acknowledged he had been lucky ample to preview Rio Tinto’s closing Argyle Pink Diamond Gentle sequence, which this year consists of of 70 diamonds from the now-shuttered mine.

“They’re bask in works of work, they are truly very weird and wonderful gems,” he acknowledged.

The sequence published closing month is headlined by a 3.47 carat diamond, the Argyle Eclipse, a truly mighty love intense pink diamond ever offered on the tender.

Four blue diamonds against blue background

The closing blue and violet diamonds from the Argyle mine are being sold as share of Rio Tinto’s closing tender.

Also on offer this year are 41 heaps of the very closing blue and violet diamonds to emerge from the mine.

Mr Fardon acknowledged the Argyle Pink Diamond Gentle prices had most standard by 500 per cent throughout the final 20 years, with the final tender anticipated to file further reveal.

A prolonged-lasting legacy

Despite the thrilling secondary market emerging, Mr Fardon believes many collectors would proceed to tackle to their investments and household heirlooms for a truly prolonged time to achieve.

“Of us perform pink diamonds for all sorts of varied reasons. Loads of them portray to the emotional values that stretch with having a stupendous pink diamond that can even be outmoded in a stupendous perform,” he acknowledged.

“With the mine coming to a discontinuance and the production having carried out … they are most attention-grabbing going to change into more rare and scarce, and be valued by collectors and jewellery connoisseurs world wide.”

The 2021 Argyle Pink Diamonds Gentle will be showcased in Perth, Antwerp, Singapore, and Sydney, with bids closing on September 1.

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Argyle pink diamond mine closure prompts rush of demand for rare stones