Rare Fancy Purplish-Red Diamond Sells Above Estimate
A 1.05 carat fancy purplish-red cut-cornered rectangular shaped diamond sold at Christies Geneva yesterday, the 10th November for $2.74 million, almost a million above its high estimate of $1.85 million. The stone with VS2 clarity, was mounted on a simple platinum and gold Graff ring and was flanked by 2 heart shaped white diamonds.
Also selling at the auction was a 3.96 carat fancy deep blue pear-shaped diamond ring which went within estimate, for $1.73 million; and a 16.45 carat Kashmir sapphire which sold for $789,570, almost one hundred thousand dollars above its top estimate.
The on-going results of auctions that have taken place during the pandemic, continue to prove that the rarest of rare are a commodity which holds its own, during economic downturn.
Amma Asset Management Delighted to Announce Realisation of Sciens Coloured Diamond Fund III
…the fund was completely realised with a 25% net return, over a 26 month purchase period…
Launched in Q4, 2017 and originally comprising 7 diamonds of 15.33cts, fund III included a 1.20ct, Fancy Vivid Green, Round Brilliant cut and a 1.14ct Fancy Red, Modified Rectangular cut, both of which are considered to be amongst the rarest stones on earth. Also included within the fund were three fancy blue diamonds and two fancy pink diamonds.
Since inception, the fund has predominantly outperformed the stock market and far exceeded bonds, gold and colourless diamonds.
With one stone already sold, the fund was completely realised during Q1 2020 with a 25% net return, over a 26 month purchase period, representing NAV.
Argyle Pink Diamonds releases one of it’s final collection Tenders.
Named One Lifetime, One Encounter, the Argyle Pink Diamonds Tender is expected to be one of its final collections before the mine’s eventual closure.
Comprising 62 loose diamonds, weighing 57.23 carats, this year’s Tender also includes additional Petite Suites - 12 sets of small pink, red, blue and violet diamonds, collected over the past five years and weighing 13.90 carats.
Within the loose stones, there are six hero diamonds including the Argyle Eternity – weighing 2.24 carats, it is the largest fancy vivid round brilliant diamond ever offered at the Tender, and the sixth largest Fancy Vivid diamond of any shape.
Arnaud Soirat, chief executive Rio Tinto Copper & Diamonds commented that “Rio Tinto’s Argyle Mine is the first and only ongoing source of rare pink, red and violet diamonds in the world. We have seen, and continue to see, strong demand for these highly coveted diamonds, which together with extremely limited global supply, supports the significant value appreciation for Argyle pink diamonds”
Amma Asset Management currently holds one Argyle diamond, a 1.14 carat Fancy Red, Rectangular Brilliant shaped diamond.
With the Argyle closure looming, Ellendale provides hope for Australian coloured diamonds
Western Australia is one step closer to a new source of coloured diamonds, following a significant discovery at the Ellendale diamond field.
India Bore Diamond Holdings revealed it had unearthed a large deposit of rare diamonds on a site which had once produced half the world's supply of fancy yellows.
Ellendale exploration had been mothballed until the recent discovery which targets a riverbed formed some 22 million years ago and is estimated to contain over a million carats of gem-quality diamonds.
Most interesting is that after analysis, the stones appear to display a purple florecence under ultraviolet light, something which only occurs in around 30 per cent of diamonds and a characteristic rarely seen in fancy yellows.
Whilst yellow diamonds are typically valued at up to four times that of a white diamond of a similar size and quality, a pink diamond can reach up 50 times the price.
Alas whilst renewed exploration is very encouraging, it is unlikely that there will ever be another mine that equals the success of the Argyle.