Monday, September 24, 2007

Rio Tinto Offers Rare Pink Diamonds

As posted on Rapaport, Rio Tinto Diamonds has just released some rare pinks.

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Rio Tinto: Pink Tender Offers Deeper, More Vivid Colors Than Before

RAPAPORT... Rio Tinto Diamonds' pink diamond tender features 65 of the world's rarest pink diamonds from the Argyle mine in Australia. While the showing has completed in Perth, Australia, it continues in Hong Kong through September 28, and then heads to New York for the first 12 days in October.

"This year's tender (the 23rd annual) promises to be one of the most exciting to date, with the Argyle Signature Stones possessing deeper and more vivid color intensity than previously seen in the tenders," according to the company's statement. "Spectacular purplish reds, as well as stunning deep pinks and a rare grey-violet diamond are included."

Since the first pink diamonds were recovered from the mine in 1985, demand for these gems has attracted a cadre of elite and discrete buyers. The pink diamond jewelry market is now worth hundreds of millions of dollars as the desire to own the rarest has sent prices skyrocketing.

"It is not unusual for pink diamonds to fetch more than $400,000 per carat. However, the sky is the limit when it comes to Rio Tinto Diamonds' exclusive Signature Stones -- each diamond is so unique that it warrants an individual price tag," Rio Tinto Diamonds concluded.

Rio Tinto's Argyle mine produces on average 30 million carats of rough diamonds a year and from this production only about 8,000 to 10,000 carats of polished pink diamonds are produced, of these a mere 65 were deemed suitable for the Pink Diamond Tender in 2007.

The company predicts that pink diamonds from Argyle will be depleted by year 2018. "This forecast has enhanced their exclusivity and image as a key investment option," the company reported.

The tender is restricted to 100 or so clients, bids are confidential, and the names of successful bidders are not disclosed. Successful bidders will be informed of their status in late October.

Jean-Marc Lieberherr, general manager of marketing for Rio Tinto Diamonds, said, "What you see in the Pink Tender are some of the rarest and most valuable gems in the world. Each Argyle Signature Stone is unique and exquisite; if it doesn't have that 'wow' factor, it doesn't make it into the collection."

"As far as pink diamonds are concerned, it's not about size and clarity as it is for white diamonds: Color intensity is what matters. The darker they are the more expensive they are, with the rare deep red the ultimate prize. This year, the 65 Argyle Signature Stones we have selected are deeper and more vivid than in previous years, this is an exciting and valuable collection," Lieberherr said.

Article source:
http://www.diamonds.net/news/NewsItem.aspx?ArticleID=19053

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Rio Tinto Offers Rare Pink Diamonds
posted by Rare Colored Diamonds on Monday, September 24, 2007

Monday, September 24, 2007

Rio Tinto Offers Rare Pink Diamonds

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