STYLE Edit: Rio Tinto’s legendary Australian mine, source of world’s rarest pink diamonds, is closing – but first invited buyers get to bid in one last annual auction

Sep 28, 2020

The Argyle Pink Diamonds Signature Tender 2020 collection. Photos: Argyle Pink Diamonds. Photo: Argyle Pink Diamonds

Once so rare they were only seen on royalty, the opening of Argyle mine launched a craze for pink diamonds – now viewings of ‘hero’ stones from last collection in Perth, Singapore and Antwerp herald closing of bids on December 2

It has been a nostalgic September for seasoned diamond collectors and connoisseurs across the globe. The source of 90 per cent of the most precious pink diamonds in the world, the Rio Tinto group’s Argyle mine in Australia, is closing this year.

Over the past four decades, the legendary mine has produced 865 million carats of rough diamonds, out of which just over a million have been classified as pink, a rare variation that can fetch several million dollars per carat.

Just as legendary is Rio Tinto’s annual tender, which offers around one per cent of all the prized pink diamonds to a group of 150 invitation-only buyers selected from across the industry. Typically, as the showcase goes around the world with stops in mega cities such as New York, London and Singapore, interested buyers place a sealed bid and the winner is notified at the tender deadline. This year, the viewings have happened virtually.

The Jade Emperor Necklace by Chow Tai Fook, using Argyle pink diamonds. Photo: Argyle Pink Diamonds

As the mine nears closure, demand for its pink diamonds is at an all-time high, and its 2020 Argyle Pink Diamonds Tender, headlined “One Lifetime, One Encounter”, featured a stunning showcase of the finest pink, red, violet and blue diamonds.

“The Argyle pink diamond story has enthralled throughout the years following the remarkable discovery of the Argyle mine in 1979. The 2020 Argyle Pink Diamonds Tender is a collection of rare earthly treasures, intricate works of art and with a potency of colour that will be keenly sought after by collectors and connoisseurs from around the world,” said Patrick Coppens, general manager, sales and marketing for Rio Tinto.

Over the past few decades, the Argyle pink diamond has acquired an exceptional status among gemstones. While white diamonds are evaluated on the basis of clarity and carat weight, the Argyle pink diamonds are valued for their colour and cut. Until the discovery of the Argyle mine in northwestern Australia in the 1970s, these pricey pink stones were seen only in royal treasures and tiaras.

Argyle pink diamonds feature in the Bijoux de Parfum: The Wisteria an ornate brooch by Kashikey. Photo: Argyle Pink Diamonds

According to Marie Chiam, sales and marketing manager of Argyle Pink Diamonds, the Asian region has been part of the Argyle Pink Diamond world since the commencement of the mine in 1983.