Rio Tinto’s 2015 Pink Diamonds Tender collection of 65 rare pink and red diamonds from its Argyle diamond mine produced excellent results "reflecting global demand and sustained price growth," the firm said.
Achieving the highest average price per carat since the tender began in 1984, the tender continued its double-digit price growth trajectory.
This year's tender featured diamonds weighing a total of 44.14 carats and included four fancy red diamonds.
Buyers came from 11 countries, with the most expensive stones sold to investors, collectors and retailers based in Europe, the United States, China, and the Middle East.
Although bids and total values are confidential, the most valuable diamond was Lot Number 1, Argyle Prima, a 1.20-carat fancy red pear-shaped diamond that saw strong demand due to its unique combination of size, shape, color and clarity "which is seldom seen in the rarefied world of red diamonds," Rio Tinto announced.
It was bought by the Sciens Coloured Diamond Fund 11 BV for an undisclosed value.
Philip Baldwin, joint managing director of Sciens Diamond Management, said :“The rarity of Argyle pink diamonds, shaped by the forces of supply and demand, speak volumes about their investment potential and wealth creation.”
Almost the entire world supply of rare pink and red diamonds come from Rio Tinto’s Argyle diamond mine in the remote east Kimberley region of Western Australia.
Today, the Argyle pink diamond is one of the few gemstones identified by its unique origins with a color range resulting from a rare combination of intense heat and pressure occurring below the earth’s surface some 1.6 billion years ago.
Argyle Pink Diamonds manager Josephine Johnson said “We are delighted with this year’s results which are a reflection of the collectability of Argyle pink diamonds and global appreciation of their rarity, provenance and beauty.”