Diamonds from Australia’s Rio Argyle Mine Fetch More Than $2m at Auction
Two diamonds from Rio’s Argyle mine in west Australia have fetched a record breaking price of more than $2 million at their annual Pink Diamonds Tender. In total the mining giant had 64 red, pink and blue diamond’s on sale at the auction, which all range in carat weight sizes from 0.20 to 3.02 carats. At the auction the stones wowed the bidders, with one particular 2.51 carat fancy deep pink diamond selling for a record price for an Argyle pink diamonds of more than $2 million. The other popular diamond that sold for more than $2 million was a 1.56 carat fancy red diamond known as the Argyle Phoenix. This stone also set the highest per-carat price paid for a diamond from the mine. According to Rio’s Argyle Pink Diamonds manager, Josephine Johnson the prices of the stones reflect their rarity and demand. The Phoenix diamond also made records for selling at the world record price for a fancy deep pink diamond. Pink diamonds are extremely rare and no one yet knows what gives them their pink colour so they can often be worth 50 times the value of a white diamond. The Argyle mine is one of the world’s largest producers of diamonds and the world’s largest producers of natural coloured diamonds. All the rare fancy pink coloured diamonds are cut and polished at the mine and sold to international customers.