Rio Tinto’s Argyle Pink Diamonds Tender Yields Highest Results in 30-Year History

Rio Tinto’s Argyle Pink Diamonds Tender, which closed bids on Oct. 8, was the most successful since the tender’s founding in 1984. 

The tender drew 600 bids, and successful bids came from 10 countries. Rio Tinto keeps prices confidential, but it did reveal that overall prices for the Argyle mine’s signature pink diamonds have more than tripled since 2000.

“We are delighted with this result, which reflects the global appeal and enduring value for these increasingly rare and iconic gems,” said Rio Tinto Diamonds managing director Jean-Marc Lieberherr.

The most valuable diamond from the tender is the Argyle Cardinal, a 1.21 ct. radiant-cut fancy red, one of only 13 fancy reds ever offered at the tender. It was sold to Australia’s Glenn Bakkar Jewels for an undisclosed amount.

“This red diamond is of exceptional rarity, and as its custodian I am humbled to be a part of its incredible journey that spans more than 1.6 billion years. It gives me the rarest of opportunities to develop a creation that will dignify its place in Australian history,” said owner Glenn Bakker.