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Diamonds in the Pink

Argyle Pink DiamondHow often do you find 55 rare pink diamonds with a total weight of 47.61 carats? The answer, once in a lifetime.

But if you were in Sydney, Australia recently at the Argyle Pink Diamonds Tender, you would have had the chance to bid on these rare Western Australian Pink Diamonds.
“Being so rare, these diamonds are literally one in a million,” said jeweller John Calleija.

“Buying a pink diamond is like buying a painting by Pablo Picasso while he was alive. You know at some point they will run out and increase in value.”

Over 90 percent of all the worlds pink diamonds are mined at the Argyle Mine in Western Australia. The mine, owned and operated by Rio Tinto, is coming to the end of its life span and the supply is estimated to dry up by 2019.

“More of my clients are looking at pink diamonds as an investment,” Mr Calleija said.

“Even during the economic crisis, they were reporting record prices at tender. These are the best and rarest from the mine.”

Pink diamonds are very popular at auctions with a 24.78 carat pink diamond recently sold at a Sotheby’s auction in Geneva for $47.2. Among the proud wearers of Pink Diamond Rings are Jennifer Lopez with a six-carat pink diamond ring as well as Nicole Kidman, Kate Moss and Salma Hayek all in the pink with the most expensive diamond.

Only 150 people from around the world are invited to place private bids at the tender, with the results revealed on October 20.

“The bidding process is shrouded in mystery and it can end in absolute joy or tears,” Mr Calleija said

Mr Calleija stated that while investors store the precious gems in safes, most of his clientele prefer to wear their winning bids. “One of my clients paid over $3 million for her pink diamond and she wears it on the farm. It’s a beautiful pink, even when it’s covered in mud.”


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