Argyle tender breaks records during pandemic following pink diamond mine closure

 The collection consisted of 62 rare pink, red, blue and violet diamonds from its Argyle mine in West Australia. The mine ceased production last month following 37 years of production. It’s said that the Argle Mine was responsible for more than 90% per cent of the world’s annual natural pink diamond supply.

“It is an extraordinary opportunity and a privilege to be part of the history-making Argyle diamond mine. We are humbled to be the custodians of these iconic rare jewels and are delighted to be part of their enduring legacy.”HARSH MAHESHWARI

The 2020 tender, which had to be conducted under COVID ‘conditions’, allowed participants to view the stones using live streaming and a virtual portal at locations in Antwerp, Singapore and Perth, Australia, due to travel restrictions. Technology that enabled exacting colour calibration and magnification of the diamonds was also used during the event.

Hong Kong-based Kunming Diamonds was the successful bidder for 35 lots, including the coveted Argyle Eternity. The 2.24-carat fancy-vivid-purplish-pink, which Rio Tinto representatives say, is “the most valuable diamond in the collection and the most valuable Fancy Vivid diamond in the Tender’s 37-year history.”

Harsh Maheshwari, director of Kunming Diamonds said, “It is an extraordinary opportunity and a privilege to be part of the history-making Argyle diamond mine. We are humbled to be the custodians of these iconic rare jewels and are delighted to be part of their enduring legacy.”

He told Jeweller that he doesn’t have plans for the Argyle Eternity as yet:  “We will see in 2021, but it could be part of a museum or at an art gallery exhibit. It’s meant for a connoisseur, collector, someone who appreciates and respects such a rare diamond.”

Other record-breaking diamonds from the tender included the Argyle Infinite, a 0.70-carat oval fancy dark violet-grey diamond which now becomes the most valuable diamond in this colour category ever produced at the mine.

“I am thrilled with my success at this year’s Tender and the exciting design possibilities unleashed by these colourful and uniquely Australian jewels.”JOHN CALLEIJA

Patrick Coppens, Rio Tinto’s general manager sales and marketing said, “We are delighted with the results of the 2020 Argyle Pink Diamonds Tender, a testament to the unique Argyle ore body and its place in the history of the world’s most famous diamonds.”

Also included in the 2020 offering were 12 additional lots of “carefully curated and never to be repeated sets of miniature rare Argyle pink, red, blue and violet diamonds”, named The Petite Suites.

They weighed 13.90 carats in total and were collected over a five-year period, with each parcel designed to strike a balance between size, shape, colour and clarity.

The Petite Suites were of particular interest to high-end designers. Local Sydney jeweller, John Calleija, successfully bid on several lots. He has a long tradition in securing and working with Argyle pinks.

“I am thrilled with my success at this year’s Tender and the exciting design possibilities unleashed by these colourful and uniquely Australian jewels,” Calleija said.

“As next year will be the last Argyle tender, we will bid on all stones, since the goods will become super rare, in high demand, and expensive.”Shmulik Polnauer, Leibish & Co

In October 2018 he unveiled the ‘Argyle Dreaming’ jewellery set, and which debuted in New York City. The necklace and ring featured 673 pink, white, yellow, blue and champagne diamonds from the Argyle Mine in Western Australia, set in gold mined from the Rio Tinto’s Kennecott site in Utah, USA. The pieces are valued at $US1.1 million ($AU1.63 million).

Rio Tinto will hold its final Argyle Pink Diamonds Tender from the last remaining ore production next year.

According to Shmulik Polnauer from Leibish & Co, an Israel-based trader specialising in colored diamonds, the 2020 tender asking prices were 15 per cent higher than last year and that Leibish added “20 per cent and more” to its bids to ensure the company secured lots.

He told Rapaport, “As next year will be the last Argyle tender, we will bid on all stones, since the goods will become super rare, in high demand, and expensive.”