|Rio Tinto Diamonds reports that the annual Argyle Pink Diamonds Tender was a huge success, with this year's Tender achieving the highest average price per carat since its inception in 1984.
Rio Tinto's Argyle mine produces virtually the entire world's supply of rare pink diamonds, with the finest from a full year's production showcased in the annual Argyle Pink Diamonds Tender. The 2016 Tender comprised a collection of 63 rare pink, red and violet diamonds from the Argyle mine, named The Chroma Collection. Rio Tinto reports that the diamonds were all of the highest quality, size and color composition in the Tender's 32-year history and were highly sought after, with winners from 10 countries, including a strong representation from the sophisticated U.S. collector market.
The centrepiece of the collection is the 2.83-carat oval diamond, named The Argyle Violet, the largest and most valuable violet diamond recovered to date from the Argyle mine.
The Argyle Violet was reportedly sold to the U.S.-based colored diamond specialist, L.J. West Diamonds Inc, which plans to showcase the historic diamond at the Diamonds: Rare Brilliance exhibition at the Natural History Museum of Los Angeles County in December 2016.
Rio Tinto notes that over the past 15 years the value of Argyle pink diamonds sold at Tender have appreciated over 300 percent.Argyle Pink Diamonds manager Josephine Johnson says, "The market fundamentals for pink diamonds - strong demand as a result of extremely limited supply - continue to support their significant value appreciation."