Rio Concludes Pink Tender, Reports 'Exceptional' Results

(IDEX Online News) – The top item of this year's Rio Tinto pink diamond tender, a 1.32-carat radiant cut Fancy Vivid Purplish Pink VS2 diamond named Argyle Siren, was sold to John Glajz. Rio said the tender "delivered an exceptional result."

A week after informing bidders of the tender results, Rio said the 77 pink, red and blue diamonds were sold to buyers from India, Japan and Australia, among other places.

The Argyle Elektra, a 0.30-carat Pear cut graded by the GIA as a Fancy Deep Grayish Violet SI2 diamond, was sold to a buyer from Japan, the most established market for pink diamonds, according to the company.

 
Shmulik Polnauer of Leibish & Co. said he was proud to have won 25 percent of the diamonds, including the Argyle Allure, a 0.33 carat, Heart-shaped Fancy Gray-Violet SI2 diamond.

From the results, Polnauer concludes that paid prices were extremely high, meaning there is very high market demand.

This year's tender included 56 diamonds that were part of the pink collection, of them 24 graded as single color pink, and a 0.24-carat Fancy Red, I2 clarity diamond.

The other 19 lots were part of the blue diamond collection, all mined at Rio Tinto's Argyle Diamond Mine.

The tender that closed on October 15 after a round of viewings, "was keenly contested with the final results demonstrating continued strong price appreciation," according to the company.

"We were delighted to see such a strong appetite for this unique "rainbow collection," said Josephine Johnson, Manager for Argyle Pink Diamonds.