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Sciens Fund Wins Most Valuable Lot at Argyle Pink Tender
Nov 10, 2015 9:05 AM
By Rapaport News
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RAPAPORT... Sciens Colored
Diamond Fund won the bid for the most valuable stone at the Rio Tinto Argyle Pink Diamonds
Tender, paying an undisclosed sum for a 1.2-carat fancy red pear-shaped diamond.
The fund, a joint
venture between former Bulgari executives Mahyar Makhzani and Philip Baldwin and New York’s Sciens Capital Management, bought the Argyle Prima, a tightly-contested stone due
to its rare combination of size, shape, color and clarity, according to Rio
Tinto.
“The rarity of Argyle pink diamonds, shaped by the forces of
supply and demand, speaks volumes about their investment potential and wealth
creation,” Baldwin said in statement released by Rio Tinto November 10.
The tender achieved the highest average price per carat
since the annual sale started in 1984, according to Rio Tinto. The 65 rare pink
and red diamonds from the Argyle mine in Western Australia weighed a total of
44.14 carats and included four fancy red diamonds won by bidders from 11
countries. The five stand-out lots were sold to investors, collectors and retailers
based in Europe, the U.S., China and the Middle East. Rio Tinto has kept sale
prices confidential.
Israel’s Leibish & Co. won
26 lots in partnership with Hong Kong’s Kunming Trading Co., including 0.74-carat
fancy deep pink radiant and a 0.54-carat fancy vivid purplish pink heart.
Rio Tinto was “delighted with this year’s results, which are
a reflection of the collectability of Argyle pink diamonds and global
appreciation of their rarity, provenance and beauty,” Josephine Johnson,
manager of Argyle Pink Diamonds, said in the statement.
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Tags:
Argyle mine, Argyle Pink Diamonds Tender, Pink diamonds, Rapaport News, Rio Tinto
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