A colored diamond is as rare as 1 in 10,000. They are formed when impurities like hydrogen, boron or nitrogen gets trapped inside the diamond lattice during crystallization process. Changes in the electron structure from natural radiation and higher pressure under the earth’s surface during the formation process can also result into colored diamonds. Out of the different colored diamonds found around the world, red diamonds are the rarest.
Argyle Diamond mine in Australia is known for producing over 90% of pink and red diamonds. At this year’s Rio Tinto Argyle Diamond Tender, 58 diamonds weighing 49.36 carats was revealed at Paragon International Wealth Management, a Toronto-based fancy colored diamond acquisition and management firm. The 58 diamonds include one blue diamond, two violets, four purplish-reds and four fancy-red diamonds.
The star of the show was the Argyle Everglow. It is a radiant-cut, 2.11 carat, VS2 clarity polished diamond. It is known to be the biggest red diamond Rio Tinto has ever offered for sale. The company is also known to have sold nearly 20 carats of fancy-red diamond in 30 years during their annual tenders.
Celebrating the unique provenance and Australia-US diamond ties, Rio Tinto showcased a unique piece of jewelry in New York. ‘Origins of Argyle’ is a statement necklace which has 45 carats of champagne and cognac diamonds and a 3.55 carat white diamond all from its Argyle diamond mine. The geographical coordinates of the Argyle diamond mine are inscribed on the opposite side of the necklace. Remote east Kimberly region of Western Australia where the gems come from is the inspiration behind this necklace.
Jordan Fine, President of JFine Inc and owner of The Origins of Argyle necklace said, “Argyle diamonds are ethically mined and crafted with an unbroken chain of custody from a remote corner of Australia and are a source of fascination around the world. We were delighted to work with these jewels to create a piece that reflects their beautiful heritage and proud pedigree.”
The necklace is the part of 31 pieces that are featured in an exhibition which showcases more that USD 60 million worth of Argyle diamond jewelry. It coincides with the Rio Tinto Argyle Diamond Tender which has the Argyle Everglow on sale. The tender was launched during a world exclusive preview in New York and invites only an elite few to bid on the stones.
The colored diamonds are known to have been sold at much higher prices, partly because of their rarity and partly because the mines known to produce the colored diamonds are near exhaustion. The Argyle mine has been estimated to run out of colored diamonds by 2021.