|L.J. West Diamonds bought the Argyle Violet diamond, the centerpiece of Rio Tinto’s Argyle Pink Diamonds 2016 Tender, which delivered the highest average price on record in 32 years. The Argyle Violet is the largest violet diamond recovered from Rio Tinto’s Argyle mine in Western Australia. The deposit has produced 12 carats of polished violet diamonds for the tender in 32 years.|
The value of Argyle pink diamonds sold at the tender has grown by more than 300 per cent over the past 15 years, Rio Tinto said.
The 12.04-carat "The Martian Pink" sold for $17m in May 2012, twice it's pre-sale estimate of $ 8m.
|In March 2012 a 12.76-carat pink diamond was unearthed at Argyle, the largest ever found. It was christened as the Argyle Pink Jubilee.|
|Rio Tinto's Argyle mine is scheduled to close production by 2020. Reports suggest less than two years of reserves remain. According to Rio Tinto, Argyle pinks have tripled in value since 2000.|