4 Undeniable Truths You Must Know Before Buying an Argyle Diamond
Argyle Diamonds have been a hot topic in the media lately especially with Australia’s Argyle Diamond Mine closing late last year. It is no secret that pink diamonds have proven to be an extremely popular choice among diamond lovers. The Argyle mine was once the largest coloured diamond production mine in the world, supplying over 90% of the world’s vivid pink diamonds. From humble beginnings in 1983 it produced the most highly coveted and stunning coloured diamonds.
With a lot of hype around the ever popular pink diamonds, here are 4 truths you NEED to know before buying an Argyle Diamond!
Pink Argyle Diamonds are rare but jewellers and suppliers have been stockpiling them since the Argyle mine opened some 40 years ago, so jewellers and suppliers making claim to having “the last of the Argyles” are simply creating scarcity. AKA - great marketing!
1. Argyle Pink Diamonds are becoming rare but they ARE still widely available. Don’t be fooled by big brand marketing…
Each year, the most beautiful, rare and valuable of the mine’s coloured diamonds are selected to be offered in the Argyle Pink Diamond Tender. In May 2021, Rio Tinto unveiled a preview of its final showcase of rare Argyle pink, red and blue (yes, that’s right, red and blue) diamonds from the recently closed Kimberley mine in Western Australia. The 2021 Argyle Pink Diamonds Tender will be showcased in Perth, Antwerp, Singapore and Sydney with bidding closing on September 1, 2021.
So, while this is the final showcase for the most rare and valuable iconic Argyle Diamond mine, it does not mean they will be unavailable forever more.
David Fardon from Linney’s Jewellery who helped with the initial promotion of the pink diamonds internationally said in an interview with the ABC on 3 November 2020:
“The reality is that people who are in the diamond business have been purchasing for stock in some cases nearly the whole time of the mine’s life.”
In our experience there are many suppliers and jewellers both locally and internationally (including Ryley Jewellery Creations) who do still have a wide selection of Pink Argyles of various shades and sizes available.
Be wary of jewellers and suppliers claim they have “the last available Argyle Pink Diamonds”, this is simply not true!
2. Argyle diamonds come in so many other beautiful colours…
The Argyle mine not only produced the most stunning pink diamonds, but as previously mentioned, fashioned some exceptional blue, red and also violet, yellow, green, champagne and, of course, white diamonds.
If you’re wondering which might be the most expensive per carat, you may be surprised to learn that it isn’t actually the pink diamonds. Coming in at an impressive $1,000,000USD per carat is the red diamond (Forbes Magazine, 2015). That’s because they are of absolute rarity!
FUN FACT: On the topic of rarity, it is said that for every 25-million carats of diamonds that were mined from the Argyle mine, only one single blue diamond was found…
According to The Australian Diamond Portfolio, blue coloured diamond prices have also risen significantly due to mounting constraints on supply and given the Argyle mine produced one diamond for every 25-million carats of diamonds mined it is safe to say that the Argyle Blue and Violet diamonds in particular are nearing a trend close to that of the pinks.
3. Like with any other commodity, it pays to shop around for a good deal.
Don’t let the market hype around scarcity con you into rushing into paying a price that is either unreasonable or simply not a good deal. Like any commodity market, the diamond industry is highly competitive, so it most definitely pays to shop around. At Ryley Jewellery Creations, we work with several Australian diamond suppliers stocking a diverse collection of Argyle Diamonds giving us the ability to negotiate the best deal for you.
4. Rio Tinto’s commitment to ethically sourced diamonds, land restoration and collaboration with traditional owners makes Argyle Diamonds a popular choice in a world that is more socially responsible and driven toward sustainability…
Rio Tinto didn’t just shut up shop in November. It is a five-year closure and rehabilitation process by which they not only dismantle equipment and machinery but assist traditional owners in land rehabilitation.
In 2005 the National Native Title Tribunal was registered after many years of working on a mining agreement between Argyle and several traditional owner groups. So it’s important to Rio Tinto that Kimberley site is left in a state that is acceptable to the traditional owners.
“We seek to create a consensus with stakeholders on a shared vision for the land, balancing environmental and community considerations with long-term capital implications associated with water treatment, repurposing and/or remediating land. Our goal is to leave a positive legacy, delivering value for the Group and our stakeholders.”
~ Rio Tinto
So, with a firm balance between environmental revegetation and sustainability and handing the Argyle site back to the traditional owners, Rio Tinto have created a diamond brand that speaks of credibility and integrity.
Jewellery historian, Vivienne Becker said “Over the near four decade life span of the Argyle mine, Rio Tinto has built a unique diamond brand of integrity and authenticity, an Australian icon and source of national pride, now recognised and asked for, by name, across the globe.”
With the very last Argyle Pink Diamond Tender approaching, we’ve observed some jewellers and suppliers are exaggerating that they have “the last of the pink diamonds”. Thousands of Argyle Diamonds of many colours and cuts are still and will remain in circulation for many years to come. To us, it is quite simply a matter of preference. No matter what colour diamond you prefer, Argyle Diamonds are very special and iconic to Australia. They will be heirlooms that will be passed from generation to generation that will hold stories and memories to share for years to come.
Toowoomba jeweller, Ryley Jewellery Creations, currently has a selection of blue, pink, yellow, champagne and white Argyle Diamonds in store and available for viewing. Beautiful stones for your future engagement ring, statement piece or for investment purposes.
To arrange a private viewing time, please contact us below or speak to one of our friendly staff on 07 4639 3930.