Wednesday, 11 January 2017

Red Diamonds - The Argyle Tender

Pure red diamonds devoid of secondary hues are the rarest in the world. The Argyle Diamond Mine is the only known significant source of pink and red diamonds, producing 95% of the world's supply. In the last 31 years of mining, Argyle has found a total of sixteen red diamonds.

Red diamonds are so rare there is little gemological information about them.

What is known is that crystal lattice defects showing stress lamination during the diamond's formation is the cause of the red color.
1 tenth of 1% of production (around 1 of every million carats) or 40 to 50 carats in total are sold at tenders each year. Prices achieved range from US $100,000/carat to well over $1m/carat.
Argyle is the fourth largest diamond producing mine in the world by volume, averaging annual production of 8 million carats. Less than 5% of mined diamonds are gem quality.

The AK1 pipe continues at depth and in April 2013 the Argyle underground mine was officially opened. The Argyle underground mine will extend the mine life until at least 2020.
Red diamonds rose to prominence in April 1987 during a Christie’s auction where a 0.95 carat round brilliant cut Fancy Purplish Red diamond made a record-breaking $927,000 per carat.

In 1998, the New-York based William Goldberg Co. cut and sold the largest fancy red diamond known, a 5.11 carat shield-shaped Fancy Red diamond, the Moussaieff Red. It is one of the key attractions of the Smithsonian and is the world's largest known red diamond.
The Kazanjian Red Diamond is one of the three known red diamonds weighing more than 5 carats. The gem was discovered in the 1920s in Litchenburg, South Africa.

It was 35 carats uncut. A diamond broker paid eight pounds per carat for it.
The Rob Red Diamond is 0.59 carats and holds a special place in the diamond world. The Rob Red is rated as the most intense red diamond ever found. The diamond is rated fancy purplish red by the GIA and is considered the most important red diamond in the world.

The De Young Red is 5.03 carats and graded as Fancy Brownish Red. It was found in South Africa in 1927. The stone was once mistakenly sold as a red garnet that was set in a hat pin.

A 3.15-carat fancy reddish-orange diamond sold for $2.09 million, or $666,200 per carat in 2012.

The Graff Purplish-red diamond, is a 2.26-carat, modified octagonal-cut, fancy purplish-red, SI2 clarity diamond. It sold for $ 2,646,000 in 2008.

A 1.92-carat, rectangular-cut, fancy red diamond sold for $ 3,252,675 in 2013. That price set a new price-per-carat auction record of $ 1,694,101
A heart-shape fancy red diamond ring by Moussaieff set a world auction record at Christie’s Hong Kong on November 25, 2014.

The 2.09 carat ring sold for $5,095,872, setting a new record of $2.44 million per carat.
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Rio Tinto’s 2016 Argyle Pink Diamonds Tender was launched at a world exclusive preview in Copenhagen against the backdrop of a rare Argyle pink diamond jewellery exhibition. The 2016 Argyle Pink Diamonds Tender included 63 pink, red and violet diamonds and represents the finest of a year’s production from Rio Tinto’s Argyle diamond mine in Western Australia.

The Argyle Violet
The 2016 Tender was named the “Chroma Collection” and comprised 57 pink diamonds, two violet diamonds and four red diamonds with a total of 58.24 carats.

The Argyle Violet, a 2.83 oval shaped violet diamond, was the dazzling centrepiece of the 2016 Argyle Pink Diamonds Tender. It is the largest violet diamond ever recovered from the Argyle mine. Violet diamonds are extremely rare – with just 12 carats of polished diamonds coming from the Argyle mine over 32 years.

The rough gem originally weighed 9.17 carats and had etchings, pits and crevices. The Argyle Violet was polished down to a 2.83 carat, oval-shaped diamond.

Ultra™ 1.11 carat pear shaped violet diamond
Pink, blue and red diamonds are seen as investments that have performed extremely well.

Wealthy buyers in volatile economies view rare, colored diamonds as a hedge against economic uncertainty.

Argyle Aria™, 1.09 carat oval shaped Fancy Red diamond

Viva™ 1.21 carat pear shaped Vivid purple pink diamond

Thea™ 2.24 carat radiant cut Vivid purplish pink