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“Geneva hosts exclusive auction of rare red and pink diamonds from Argyle mine”

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rare glimpse into the glamorous world of high-end diamond auctions.

The Argyle mine, owned by Rio Tinto, is known for producing some of the world’s most breathtaking pink and red diamonds. These diamonds, often referred to as “fancy color diamonds,” are extremely rare and highly coveted by collectors and investors alike.

The exclusive auction took place in a luxury hotel in Geneva, known for its opulent surroundings and prestigious clientele. With a strict invitation-only policy, only a select group of individuals were given the opportunity to participate in this extravagant event.

The collection on display consisted of 62 pink and red diamonds, with a total weight of 57.55 carats. Each diamond was meticulously graded and displayed in a carefully crafted setting, allowing potential buyers to fully appreciate their beauty and rarity.

Among the attendees were renowned jewellers, collectors, and dealers, all vying for the chance to acquire one of these remarkable stones. The auction was conducted by a team of experts from Rio Tinto, who skillfully guided the proceedings and ensured a fair and transparent bidding process.

The highlight of the auction was a stunning 2.11 carat, fancy red diamond, which fetched an impressive £2.3 million. This extraordinary diamond, known as the “Argyle Everglow,” is one of the largest and most vibrant red diamonds ever discovered.

Speaking about the auction, Alan Davies, Chief Executive of Rio Tinto’s Diamonds business, said, “The Argyle mine has been a source of some of the world’s most beautiful diamonds for over three decades. We are proud to showcase these rare treasures and provide discerning buyers with an opportunity to own a piece of history.”

The Argyle mine, located in Western Australia, has been in operation since 1983 and is set to close in 2020. As the world’s primary source of pink diamonds, its closure will undoubtedly have a significant impact on the availability and value of these precious gems.

Pink diamonds, in particular, have seen a surge in popularity in recent years, with wealthy individuals and investors recognizing their potential as a unique and valuable asset. The Argyle mine’s closure is expected to further drive up prices, as demand continues to outstrip supply.

While the auction itself was an exclusive affair, the impact of these rare diamonds reaches far beyond the walls of the luxurious Geneva hotel. The Argyle mine’s closure marks the end of an era and signals a shift in the diamond market, as collectors and investors scramble to secure a piece of history.

As the sun set over Lake Geneva, and the last diamond was sold, it was clear that this exclusive auction had left an indelible mark on the world of luxury and glamour. The legacy of the Argyle mine and its extraordinary pink and red diamonds will continue to captivate and inspire for years to come.

More detail via The Sunday Times here… ( Image via The Sunday Times )

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