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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.
Tags: Argyle mine, Argyle Pink Diamonds Tender, Pink diamonds, Rapaport News, Rio Tinto
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