Rio Tinto’s inaugural Beyond Rare tender has delivered an exceptional result. Its first collection titled Born of this World comprises 87 diamonds in 48 lots, weighing 29.96 carats in total.
The tender introduced legacy inventory of pink and red diamonds from the Argyle Diamond Mine and yellow diamonds from Rio Tinto’s Diavik Diamond Mine.
Bidding for the carefully curated collection was strong, with individual, multiple and global bids and a broad geographic spread of successful bidders from Australia, Europe, Japan, Hong Kong, Singapore, US and Israel.
Sinead Kaufman, Chief Executive of Rio Tinto Minerals said “We are delighted with the results from this new sale format for Rio Tinto’s diamonds business, delivering results that reflect the global demand for highly collectible natural coloured diamonds and the resulting value creation.”
There was also intense interest from the Japanese market where Argyle pink diamonds have long been revered by Japanese jewellery designers.
Almost the entire world’s supply of rare pink, red, blue and violet diamonds come from Rio Tinto’s Argyle Diamond Mine which ceased production on 3 November, 2020. With 37 years of Argyle pink diamond production in global markets Rio Tinto continues to manage the Argyle Pink Diamonds brand through sales of remaining inventory, secondary market platforms, certification processes and creative collaborations with Argyle Pink Diamonds Icon Partners and other renowned national and international jewellers. In addition to owning the Argyle Pink Diamonds brand, Rio Tinto is the owner and operator of the Diavik Diamond Mine in the Northwest Territories of Canada.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
