The 0.94 carat Argyle Pink radiant cut diamond that did not sell at public auction earlier this month will likely be offered for sale again, either at a future auction or through private sales. Despite not finding a buyer this time, the diamond’s exceptional rarity and high value ensure it remains a highly desirable piece.
According to experts, the diamond’s estimated value of AUD $700,000 to $800,000 (USD $457,000 – 522,000) remains intact, and it will likely attract interest from collectors and investors when it reappears on the market. The rarity and historical significance of Argyle pink diamonds continue to make them sought-after items, ensuring that the diamond will find a buyer eventually. To that end, two other lots with certified Argyle pink diamonds did sell at the auction. These included Lot 99, a 0.50-carat radiant-cut pink diamond with SI2 clarity (sold for $14,887) and Lot 37, a 1.14-carat emerald-cut pink diamond with SI2 clarity (sold for $20,180).
Alluvial mining at the Argyle mine, located in the Kimberley region of Western Australia, began in 1983, followed by open-pit mining in 1985. The mine transitioned to fully underground operations in 2013. Each year, the annual tenders showcased the finest stones from that year’s production.
In her 37 years of life Argyle produced 865 million carats of rough diamonds but a mere 0.01% of that output is what vaulted the mine to fame. In her decades of existence Argyle has produced over 90% of the world’s supply of extremely rare pink and red diamonds. In fact, according to Leibish, the Argyle Pink Diamond, specifically, has been dubbed ‘the most concentrated form of wealth on Earth.’
Read more about the mine’s rich legacy: The Argyle mine closes. Goodbye, Dear Friend
