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Rare Argyle Violet Diamond Sold to L.J. West

Nov 8, 2016 7:01 AM   By Rapaport News
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RAPAPORT... L.J. West Diamonds bought the Argyle Violet diamond, the centerpiece of Rio Tinto’s Argyle Pink Diamonds Tender, which this year delivered the highest average price on record in 32 years.

The New York-based company plans to showcase the oval-shaped, 2.83-carat polished stone at an exhibition of diamonds at the Natural History Museum of Los Angeles County in December.

The piece “is a truly unique treasure that we are proud to be exhibiting as one of the finest examples of a historic fancy color diamond,” said Larry West, president of L.J. West Diamonds.

The Argyle Violet is the largest violet diamond recovered from Rio Tinto’s Argyle mine in Western Australia. The deposit has produced only 12 carats of polished violet diamonds for the tender in 32 years.

Rio Tinto said the tender overall fetched its highest average price per carat since the sale started in 1984, reflecting “strong global demand these increasingly rare diamonds.” The value of Argyle pink diamonds sold at the tender has grown by more than 300 per cent over the past 15 years, Rio Tinto said.

The 2016 tender, named the “Chroma Collection,” featured 63 pink, red and violet diamonds the Argyle mine. Buyers this year came from 10 countries. It was the first to feature solely diamonds from Argyle’s underground mine. 

Meanwhile, Leibish & Co, a fancy color diamond specialist, said it bought an emerald-shape, 0.71-carat, fancy intense pink, IF diamond at the tender. The stone was the first IF diamond offered at the sale in more than 20 years, Leibish said.

Rio Tinto declined to disclose sale prices or the total revenue from the tender.
Tags: Argyle, Argyle mine, Argyle Pink Diamonds Tender, Chroma Collection, colored diamonds, L.J. West, Leibish & Co, Pink diamonds, Rapaport News, violet diamonds
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