Australian Argyle Mine

Argyle pink diamonds account for about 90% of all the pink diamonds found in the world

After 38 years of operation, the Argyle Diamond Mine in Western Australia closed last November, due to costs outweighing the yield. Eight hundred and sixty-five million carats per year were mined; only about 1,900 stones a year would be pink – that’s .0002%. Argyle pink diamonds account for about 90 per cent of all the pink diamonds found in the world so far.

The final sale of the mine’s diamond selection has just taken place in early October, offering the last of the diamonds to the highest bidders in a silent auction. The Argyle tender auction is the most highly anticipated diamond event in the world.

With 70 diamonds up for sale, this was the most offered by Argyle, with colours ranging from vibrant reds to soft pinks.

Not just pink diamonds…….

There is no other mine in the world that produces colours like Argyle. The final tender will also include 24 carats of blue and violet diamonds, which are even rarer than pinks.

Bidding for these diamonds is always a secret affair. Industry-based jewellers and diamond dealers are permitted to make their secret, silent bids by invitation only. Bids are taken via an online portal, and once a diamond has been won, 4 days are given to finalise payments.

Pink diamonds are 35 times more expensive than white diamonds

Pink diamonds are very much the signature gem of Australia and are on average 35 times more expensive than white diamonds.

Customers wanting to be a part of the ‘Argyle club’ are urged to purchase a piece of jewellery set with these remarkable gems while they are still
available.

Author: Kylie Beachley
FGAA Dip DT Regt Valuer RV348
Office Manager