Argyle unveils the 2017 Signature Tender

Rio Tinto has unveiled the largest Fancy Red diamond in the history of its Argyle Pink Diamonds Tender, during a world exclusive preview in New York.

The 2.11 carat polished radiant cut diamond, known as The Argyle Everglow™, is the dazzling centrepiece of the 2017 Argyle Pink Diamonds Tender – an annual showcase of the rarest diamonds from Rio Tinto’s Argyle mine.

Rio Tinto Copper & Diamonds chief executive Arnaud Soirat said “We are delighted to announce this historic diamond at our Tender preview, a testament to the unique Argyle ore-body that continues to produce the world’s rarest gems.”

Unprecedented in size, colour and clarity, The Argyle Everglow™ has been assessed by the Gemological Institute of America (GIA) as a notable diamond with a grade of Fancy Red VS2.

In the 33-year history of the Argyle Pink Diamonds Tender there have been less than 20 carats of Fancy Red certified diamonds sold.

Argyle Pink Diamonds manager Josephine Johnson said “The Argyle Everglow™ represents rarity within rarity and will drive global demand from collectors and connoisseurs in search of the incomparable.”

The hero cast of the 2017 Argyle Tender!

The 2017 Argyle Pink Diamonds Tender is named ‘Custodians of Rare Beauty’ in honour of its rich provenance and honourable pedigree. The 58 diamonds in the Tender weigh a total of 49.39 carats – including four Fancy Red diamonds, four Purplish Red diamonds, two Violet diamonds, and one Blue diamond.

The collection comprises five “hero” diamonds selected for their unique beauty and named to ensure there is a permanent record of their contribution to the history of the world’s most important diamonds:

• Lot 1: Argyle Everglow™, 2.11 carat radiant shaped Fancy Red diamond
• Lot 2: Argyle Isla™, 1.14 carat radiant shaped Fancy Red diamond
• Lot 3: Argyle Avaline™, 2.42 carat cushion shaped Fancy Purple-Pink diamond
• Lot 4: Argyle Kalina™, 1.50 carat oval shaped Fancy Deep Pink diamond
• Lot 5: Argyle Liberté™, 0.91 carat radiant shaped Fancy Deep Gray-Violet diamond

The 2017 Argyle Pink Diamonds Tender will be showcased in New York, Hong Kong and Perth with bids closing on 11 October 2017.

Historical color diamonds sold at auction - Christies

Historical color diamonds sold at auction

14.62 carats, the breathtaking Oppenheimer Blue vivid diamond

The Oppenheimer Blue became the most expensive gemstone ever sold at auction in 2016.

At 14.62 carats, the breathtaking Oppenheimer Blue — named after Sir Philip Oppenheimer of De Beers fame — is the largest Fancy Vivid Blue ever to come to auction. It is the latest in a line of historic blue diamonds to have been auctioned at Christie’s which includes the Tereshchenko in 1984 and the Wittelsbach Blue in 2008.

François Curiel, Chairman of Christie's Asia Pacific and China, observes: ‘Blue diamonds have gained a wider following, not only because they are stunning, but because there are so few of them available in the world. The Oppenheimer Blue is one of the rarest gems in the world. It is the gem of gems.’

The Perfect Pink. A superb coloured diamond and diamond ring. Set with a rectangular-shaped fancy intense pink diamond weighing 14.23 carats, flanked on either side by a rectangular-shaped diamond weighing 1.73 and 1.67 carats, mounted in 18k rose and white gold. Sold for: HK$179,860,000 ($23,274,064) on 29 November 2010 at Christie’s in Hong Kong

Since they were first discovered in India, pink diamonds have been considered among the most beautiful of gemstones. At 14.23 carats, The Perfect Pink is particularly rare, with polished pink diamonds of its size and colour virtually unheard of — fewer than 10 per cent of all pink diamonds weigh more than 0.20 carats.

While most pink diamonds show some elements of purple, orange or grey, The Perfect Pink is just that, showing absolutely no trace of secondary colour. Completely devoid of inclusions, the diamond was sold in Hong Kong in 2010 for $23,274,064.

This exceptional gem possesses a soft cushion-shaped silhouette with modified cutting style, and is a sensational example of a Fancy Vivid Yellow diamond. Simply set as a ring within a streamlined yellow gold setting, the Fancy Vivid Yellow diamond requires no further ornamentation. To find a stone of approximately 75.56 carats graded a Fancy Vivid Yellow by the GIA is a rare occurrence in today’s marketplace.

When it was auctioned in 2013, The Orange was the largest Fancy Vivid Orange diamond ever to have been discovered, weighing approximately 14.82 carats. The GIA commented: ‘In the laboratory’s experience, strongly coloured diamonds in the orange hue range rarely exceed three of four carats in size when polished. This diamond is almost four times larger.’

Termed ‘fire diamonds’ by famous gemologist Edwin Streeter, pure orange diamonds remain incredibly rare, with so few having been graded that the exact cause of their colour remains a mystery. The diamond’s unique nature was reflected in its price, selling for $35,543,804 — more than $15 million above its high estimate.

Sold in Geneva on 10 November 2015, this cushion-shaped Fancy Vivid Pink diamond is the largest of its kind ever to come to auction, weighing in at 16.08 carats. The stone is set in a ring, and is surrounded by a double row of pavé white diamonds, a third row of small pink diamonds nestled underneath.

‘As large and rare coloured diamonds of this calibre become increasingly hard to locate, this 16.08 carat Fancy Vivid Pink diamond comes to market at a time when great gems are mirroring prices achieved for masterpieces in the world of fine art,’ comments Kadakia. Awarded to just one in 100,000 diamonds, the ‘Fancy Vivid’ status is exceptionally rare, reflecting the depth of the diamond’s straight pink hue.

Weighing in at 13.22 carats, The Blue was sold as the largest Flawless Fancy Vivid Blue diamond in the world. Set in a ring, the pear-shaped stone came flanked by two pear-shaped white diamonds, weighing approximately 1.00 and 0.96 carats. It was purchased by Harry Winston in Geneva in 2014 for a sum equating to just over $24 million.

Credit - Christies

Sotheby's sells pink, blue diamond earrings for about $51M

ABC News - Sotheby's sold a pair of pear-shaped diamond earrings at a hammer price of about $51 million Tuesday, though the 14.54-carat flawless Fancy Vivid Blue diamond that was the auction's highlight fell short of the expected range.

Sold as separate lots, the "Apollo Blue" and "Artemis Pink" diamonds together cracked the low end of the expected range of $50 million to $70 million, but were a record for earrings sold at auction, Sotheby's said.

The earrings were the standout offerings at a Geneva auction of nearly 400 pieces of jewelry that reaped more than $150 million altogether.

At the hammer price, excluding fees, the Apollo Blue — the largest internally flawless Fancy Vivid Blue ever sold at auction — went for 37 million Swiss francs ($37.5 million), Sotheby's said. The total cost was $42.1 million, including the "buyer's premium."

Auctioneer David Bennett, chairman of Sotheby's international jewelry division, called that a "very healthy price."

The matching, 16-carat pink diamond went for a hammer price of about $13.5 million. Overall, the pair went for a total, including fees, of more than $57 million.

Bennett declined to identify the buyer who snapped up both lots, but the auction house did say the buyer was renaming the gems as "The Memory of Autumn Leaves" for the blue diamond earring and "The Dream of Autumn Leaves" for its pink sister.

A Sotheby's employee displays the Apollo blue diamond and the Artemis pink diamond earrings during a preview at the Sotheby's, in Geneva, Switzerland. Sotheby's sold a pair of pear-shaped diamond earrings at a hammer price of about $51 million Tuesday, May 16, 2017, though the 14.54-carat flawless Fancy Vivid Blue diamond that was the auction's highlight fell short of the expected range.

'Pink Star' diamond sells for record $71.2 million at auction

The "Pink Star" weighs 59.60-carats, and is the most valuable polished diamond ever offered at auction.

Courtesy of CNN

It took nearly two years to cut the Pink Star from a rough diamond. It first appeared in public in 2003 and later became part of an exhibit at the Smithsonian National Museum of Natural History, home of the famous 45.52 carat blue Hope Diamond. It was also displayed at the Natural History Museum in London.

Tuesday's winning bid surpassed the previous world auction record for a pink diamond -- $46.16 million for the 24.78 carat Graff Pink, sold at Sotheby's in Geneva in 2010.

Chow Tai Fook has renamed its new possession the CTF Pink Star in memory of the company's founder and to commemorate the brand's 88th anniversary.

A diamond as rare as you.

For centuries, natural color diamonds have been regarded as the world’s most sought-after gems, from collectors to royalty. Diamonds so rare that they are only discovered in a few locations on earth, they are likened to works of art, hidden treasures and rare books.

One of the exciting factors involved in natural color diamonds is the origin of how they get their unique colors, where they are found and why they are so unique.

Rare Multi-Color Diamonds part of the L.J. West Diamonds collection.

• Tiny amounts of nitrogen created yellow and orange shades.
• The element boron created blues.
• Hydrogen causes the color violet to appear.
• Tremendous pressure occasionally would realign or spiral the diamond’s crystal structure, creating red, pink, purple and brown diamonds.
• Millions of years of natural radiation produced green diamonds.

Color diamonds have been around since the beginning of diamonds discovered approximately 3000 years ago in India; it is only the last decade where the desire and appeal for them have entered the consumer market. The growing awareness of rarity and value have created increased demand for natures most special diamonds At auction natural color diamonds are exceeding record prices with the 14.62 carats Oppenheimer blue diamond selling for an impressive $57,541,779 USD at Christie's in May of 2016. This blue diamond was the largest vivid blue diamond ever to sell at auction and holds the current record for highest price paid for any jewel at auction.

In 2014, the 12.03 fancy vivid blue “Blue Moon of Josephine” diamond sold for $48.4 million and still holds the current price per carat record for any public sale at auction at $4 million per carat. In 2015, a collector paid US$28,523,925.00 for a 16.08 Fancy Vivid Pink Diamond, setting a new world record for the highest price paid and highest price paid per carat at $1.773,875.00 for a Fancy Vivid Pink diamond.

These values highlight the exceptionally rare stones but are proven examples of the desirability for them.

The 14.62 carats Oppenheimer Blue Diamond (right) $57,541,779 USD at Christie's in May of 2016, Scott West Patriot Earrings (bottom) featuring rare Argyle Pink and Blue diamonds.

Any buyer or collector has a spectrum of color to select from in natural colored diamonds, and there is no right or wrong in choosing what diamond can appeal to your taste. Prices for natural color diamonds can start from $100 up to $1 million per carat plus, the characteristics in determining a stones value can vary with the exceptionally rare stones being valued by rarity, size and color. However, the main reason to own any is all the same – beauty, is the ultimate reason to own a natural color diamond!

A natural color diamond is as rare as you, no color is the same and no diamond is alike. The diamonds can be compared to the endless variety of flowers on our earth, a colorful rainbow in the sky and the unique personalities found all around the world.

Consider finding a color diamond that is as distinctive and alluring as you are. You will not be disappointed in your quest to do this.

Why 2016 was the year of the colored diamond

By Nick Glass, CNN

Updated 5:27 AM ET, Tue December 20, 2016

(CNN) Relatively small, but slowly and perfectly formed over billions of years, the Argyle Violet diamond is so rare in color that it has its own unique diamond classification: "Fancy Deep Grayish Blueish Violet."

It was "a once in a lifetime discovery. I fell in love with it. We had to have it," says Scott West of L.J. West Diamonds Inc. of New York.

Like his father, Larry, and his grandfather Max before him, West is a diamond hunter, searching for the rarest and most unusually colored stones.

His most recent acquisition, the 2.83-carat oval Argyle Violet is being displayed as part of "Diamonds: Rare Brilliance" at the Natural History Museum of Los Angeles County.

The Juliet Pink Diamond Necklace

The Argyle Violet Ring

The Rainbow Necklace

The Victorian Orchid

An exclusive offer

Scott West spends three months every year traveling the world looking for special stones.

The Argyle Violet came from the remote Argyle Mine in North West Australia. Every year for the last 30 years, the mine's owner, Rio Tinto, has invited a select group of buyers to tender for newly discovered stones by sealed bid. It's said to be the most exclusive diamond sale in the world.

This year, there were 63 diamonds on offer, all pink, red or violet.

West says he and his father, Larry, first saw the Argyle Violet in a secure room in Hong Kong in September, and made "multi visits in differing light" before placing their bid in November.

He declined to comment on a Financial Times report that L.J.West's winning bid was more than $10 million for the Argyle Violet and 15 other colored stones, although he did agree that it was "tough" having to make a sealed bid.

The allure of the sparkle

L.J. West claims to have the largest inventory of large colored diamonds in the world with some 2000 stones of all colors, many of them pink.

But, naturally, West remains discreet about money and collectors. Though the company did admit that Halle Berry wore one of their diamond rings (the Pumpkin Diamond, Fancy Vivid Orange, 5.54 carats) when she won her Oscar in 2002.

"The Middle East is a strong market. China continues to grow. The United States is still the strongest market of all," he says.

Article courtesy of CNN

Chong Hing jewelry display 14 million yuan pink diamond

From the New York Choi Wan West family to provide the balance of more than 40 diamond jewelry at the weekend in San Gabriel Changxing jewelry watches and clocks gold line display. From left to right: jewelry family Gino Di Geso, Scott West, Changxing Jewelry Executive Director Valerie Lee, founder Lee Yu Miao Ling, Paul Sterman, diamond expert Aaron Celestian. (Reporter Yang Qing / photography)

Reporter Yang Qing / San Gabriel City reported

December 17, 2016, 8:32 pm

More than 40 pieces of priceless diamond jewelry in the weekend in San Gabriel Changxing jewelry watches and clocks gold line display, so that the Southern California Chinese community Christmas and New Year shine. One of the top Zhenhan pink diamond ring up to 14 million yuan, a rare.

"The reason why the Southern California Chinese community chose to display these top treasures, because the Chinese people know a lot of goods," from New York's third generation descendant of the jewelry family Scott West, 50 years ago, we know the diamond is usually pink And blue, and now hope to all the world's top diamond, are introduced to the Chinese community.

The 3000 family of diamond jewelry offered by the West family will be on display at the Los Angeles County Museum of Natural History from this weekend until March 2017. Aaron Celestian, deputy curator of the museum, said the Natural History Museum held very few diamond exhibition, this is the largest diamond exhibition in recent years. The last diamond exhibition in 2014, "was only a diamond jewelry display."

Celestian, who works on diamonds and jewels, says that 99% of the museum's diamonds are white, because white is the most traditional and likable. "But it's not the color diamonds that are not popular, It is too rare and rare, very difficult to find.

Yellow, pink, blue, green, red, purple, orange and other colors, including yellow diamonds are often experts called "very rare"; powder , Blue and green diamond as "extremely rare"; red, purple and orange drill for the "top Jane Han."

Celestian said that the color of diamonds is usually divided into light color, color, rich color and brilliant color four levels, the heavier the color, the more valuable. "Celestian said," color diamond jewelry color, two look at the size of three to see cut. He explained that the natural color diamond is precious, because very rare, the production environment at least a few miles below the surface, but also requires very special temperature and light conditions.

Changxing Jewelry gold line, said that although this rare diamond display only two days, but Changxing CEO Valerie Lee as a license gem identification division, ready to provide gemstone identification for the public. At the same time, Changxing also have these top diamonds of the drawings and description, ready to help interested people back to the real parts, so that buyers see.

Article courtesy of World Journal

Spectacular Colored Diamonds On Exhibit At Los Angeles County Natural History Museum

Dec 15, 2016 @ 12:37 PM

By Anthony Demarco - Forbes

The Juliet Pink on display at Diamonds: Rare Brilliance at the Natural History Museum of Los Angeles

Natural History Museum of Los Angeles County is bringing together rare colored gems never before seen in the United States inside the museum’s Gem and Mineral Hall in an exhibition titled “Diamonds: Rare Brilliance.”

At the exhibition’s center is the “Juliet Pink Diamond,” an extremely rare pink diamond of more than 30 carats, and a Fancy Deep Grayish Bluish Violet named the “Argyle Violet Diamond,” after the Argyle mine in Western Australia where it was discovered in 2015. Through examples, such as the fluorescent lighting of a “Rainbow” diamond necklace and a very rare Victorian Orchid Diamond, the exhibition will attempt to bring to light the rare properties of colored gemstones, the science behind natural colored diamonds, and how the interplay of light and chemistry gives diamonds color.

The Argyle Violet Diamond set in a beautiful platinum diamond setting surrounded by 12 rare vivid pink diamonds. On display at the Natural History Museum of Los Angeles

The Diamonds: Rare Brilliance exhibition will open Friday and run through March 19, 2017. The colored gems and jewels in the exhibition are owned by L.J. West Diamonds, which specializes in the sourcing, manufacturing and distribution of colored diamonds. 

The exhibition coincides with the reopening of NHMLA’s Gem and Mineral Store.

Article courtesy of Forbes

30+ CARAT “JULIET PINK” AND RARE “ARGYLE VIOLET” DIAMONDS MAKE U.S. DEBUT

IN DIAMONDS: RARE BRILLIANCE AT THE NATURAL HISTORY MUSEUM OF LOS ANGELES COUNTY

New York, November 28, 2016 — The Natural History Museum of Los Angeles County (NHM) today announced details for its coming exhibition Diamonds: Rare Brilliance, which will bring together rare colored gems never before seen in the United States inside the museum’s renowned Gem and Mineral Hall. At the center of Rare Brilliance will be the “Juliet Pink Diamond,” which is an extremely rare pink diamond of over 30 carats, and a Fancy Deep Grayish Bluish Violet named the “Argyle Violet” after the eponymous Argyle mine in Western Australia, where it was discovered in 2015. Through stunning examples, such as the fluorescent lighting of a “rainbow” diamond necklace and a very rare Victorian Orchid Vivid Purple diamond, the exhibition will bring to light the rare properties of colored gemstones, the science behind natural colored diamonds, and how the interplay of light and chemistry gives diamonds color. Organized in partnership with L.J. West Diamonds, Rare Brilliance will be on view from December 16, 2016, through March 19, 2017.  

The Juliet Pink Diamond - set in a magnificent necklace with marquise, pear and round-cut shape white diamonds

“We are thrilled to share these gems, which are incredibly rare in color, intensity, quality and size — and so brilliantly fashioned from the original roughs — with museum visitors, providing opportunities to learn about the geology, physics and chemistry behind each diamond’s sparkle and hue,” said Dr. Aaron Celestian, NHM’s Associate Mineralogy Curator. “These jewels, on loan from L.J. West, capture the imagination and will shine amongst the museum’s world-renowned collection of gems and minerals.”

“Throughout history diamonds have been synonymous with love and romance. The Juliet Pink captures this connection with its vibrant, strong pink color that is both alluring and seductive. After understanding the stone’s importance and color we decided to name the stone the ‘Juliet Pink Diamond,’ as the stone captivates passion and ultimate beauty.” – Scott West, the vice president of L.J. West Diamonds.

The Juliet Pink Diamond, which will be set in a necklace with marquise, pear and round-cut white diamonds totaling 98.70 carats for the exhibition, has been designated a type IIa diamond by the Gemological Institute of America (GIA) for its remarkable chemical purity and clarity. Natural colored diamonds are a strikingly rare phenomenon, occurring in an estimated one out of every 10,000 gems, and the precise science behind individual colors remains a mystery.

The Rainbow Necklace – a glorious and brilliant design that features over more than 100 rare natural color diamonds from the vast color spectrum

In addition to the Juliet Pink Diamond, Diamonds: Rare Brilliance will introduce U.S. audiences to one of the world’s rarest diamonds — a Fancy Deep Grayish Bluish Violet named the “Argyle Violet” after the Argyle mine in Western Australia. There are no other known diamonds of this combination of colors or with the same clarity and size, and it is the largest Violet to be discovered in the Argyle Diamond Mine. The 9.17 original rough stone was an unusual shape characterized by deep grooves and an uneven surface. After more than 80 hours of carving and polishing, the diamond on view in NHM’s Gem Vault is a 2.83-carat oval that is set in a designer ring surrounded by Argyle Vivid Pink Diamonds.

The Argyle Violet – an historic diamond, the its 2.83-carat oval shape is making it the largest violet diamond unearthed from the Argyle diamond mine

“We are so pleased to be able to share these exceptional stones with the public through the Rare Brilliance exhibition at the Natural History Museum of LA,” Scott West from L.J. West Diamonds said. “Just as the ring and necklace settings provide a backdrop to highlight the brilliance of the cut stones, the excellent company of NHM’s Gem and Mineral Hall collection will provide the perfect context for these rare and important diamonds.”

The Victorian Orchid Vivid Purple Diamond - Fancy Vivid Purple fashioned in a cushion-cut shaped at a noteworthy 1.64 carats

The NHM Gem and Mineral Hall
The world-renowned, 6,000-square-foot Gem and Mineral Hall at NHM opened in 1978 and is one of the finest permanent exhibit halls of gems and minerals in the world. The Hall houses a selection of the Museum’s extensive collection — displaying more than 2,000 spectacular specimens within two large galleries — which as a whole includes more than 150,000 specimens and is the largest in the western United States. The NHM Mineral Sciences Department curates the museum’s world-class collection of minerals, rocks, gems, ores, and meteorites, and it conducts research focusing on furthering scientific understanding of these materials. The department actively maintains the Gem and Mineral Hall and provides general and scientific programming through the Museum’s Gem & Mineral Council.

Details -

The Juliet Pink Diamond – The exceptional gem is a Fancy Intense Pink diamond, VVS2. Cut from an estimated 90-carat rough from South Africa, the rare gem is fashioned in an oval-cut shape at a noteworthy 30.03 carats and is set in a magnificent necklace with marquise, pear and round-cut shape white diamonds, VVS E-F totaling 98.70 carats.

The Argyle Violet – an historic diamond, the its 2.83-carat oval shape is making it the largest violet diamond unearthed from the Argyle diamond mine, polished from an extraordinary 9.17-carat rough diamond. An impossible rarity, the Argyle Violet possesses the unique color grading of Fancy Deep Grayish Bluish Violet, and it headlines the 2016 Argyle Pink Diamonds Signature Tender.

The Rainbow Necklace – a glorious and brilliant design that features over more than 100 rare natural color diamonds from the vast color spectrum. The necklace features radiant-cut shape multi-color diamonds at a noteworthy 35.93-carat weight and is set in a custom, one- of- a- kind 18-karatK white gold arch necklace. The necklace took over 5 years to assemble as collecting the diamonds of similar shape and size was extremely miraculous occurrence.

The Victorian Orchid Vivid Purple Diamond – The Victorian Orchid is an extremely rare gem; the diamond is one of the rarest stones currently worldwide because of– due to its unique color. The Victorian Orchid is a Fancy Vivid Purple diamond, SI2. This rare gem is fashioned in a cushion-cut shaped at a noteworthy 1.64 carats and is set in a flower designer ring with a match pair of kite- shape diamonds ofs 0.42 carats.platinum ring setting.

Visitor Information
Natural History Museum of Los Angeles County
900 Exposition Blvd., Los Angeles, CA 90007
www.nhm.org
 
Group Visits  

Groups of 10 or more people receive discounted rates on Museum admission. Group tickets available now by calling (213) 763-3218 or by emailing groupsalesNH@nhm.org for reservations and more information.

Membership

Tickets to the exhibition are free for NHM members. To become a member, visit nhm.org/membership.

About the Natural History Museum of Los Angeles County
The Natural History Museum of Los Angeles County is located at 900 Exposition Blvd., Los Angeles. It is open daily 9:30 a.m. to 5 p.m. The Museum was the first dedicated museum building in Los Angeles, opening its doors in 1913. It has amassed one of the world’s most extensive and valuable collections of natural and cultural history — with more than 35 million objects, some as old as 4.5 billion years. The Natural History Family of Museums includes the NHM, the La Brea Tar Pits and Museum (Hancock Park/Mid-Wilshire), and the William S. Hart Park and Museum (Newhall, California). The Family of Museums serves more than 1 million families and visitors annually and is a national leader in research, exhibitions and education.

About L.J. West Diamonds
The journey for L.J. West Diamonds spans over five decades and three generations, and it continues to this day. L.J. West has established itself as one of the world’s most distinguished houses for some of the most rare and important exotic Natural Fancy Color Diamonds to have ever been unearthed.

Advocates for the collectors whose treasures we provide. L.J. West is an expert in every phase of the jewelry process – from sourcing to the cutting, polishing and final design. Each exceptional jewel is carefully set to become a unique work of art.

Coloured diamonds outshine whites as top mine’s sparkle fades

Jamie Smyth in Sydney of Financial Times

Pink and violet stones surge in value amid uncertainty over site where 90% are found

Over a quarter of a century Larry West has scoured the globe looking for some of the world’s rarest coloured diamonds. This week he secured a big prize, the Argyle Violet, which he bought along with 15 other coloured stones for more than $10m. 

“At 2.83 carats, this is the largest and most valuable violet diamond ever recovered from the Argyle mine,” says Mr West, founder of New York’s LJ West Diamonds. “You could fill a garbage truck with the rough diamonds produced from the mine every year, an ashtray with pink diamonds but only a half teaspoon of violets,” he says. 

Rio Tinto’s Argyle mine, which is based in the remote north-west of Australia, produces about 90 per cent of the top-quality red, pink and violet diamonds dug up worldwide. The stones are extraordinarily rare, accounting for 0.1 per cent of the mine’s annual output with the remainder made up of more affordable champagne and cognac stones used in the fashion jewellery sector in the US, China and India. 

The Argyle Diamond Mine in Western Australia

Uncertainty over the Argyle mine’s future, as well as growing appreciation for rare pink diamonds among the super-rich, is prompting a surge in the value of these coloured stones even as the price of traditional white diamonds falls on world markets. 

A 9.14 carat pink pear-shaped diamond is expected to realise $16m-$18m when it is auctioned at Christies in Geneva next week.

“Pink diamond prices have tripled over the past 15 years and on average would be at least 25 to 30 times the value of white diamonds,” says David Fardon, chief executive of Linneys, one of 35 ateliers mandated to buy coloured diamonds from Argyle. 

By comparison, global sales of diamond jewellery fell in 2015 for the first time in six years, declining 2 per cent to $79bn. Sales of rough diamonds fell 30 per cent.

Mr Fardon says the scarcity of coloured pink, red and violet diamonds mined at Argyle has enabled them to buck the downward trend in diamond prices. He says they have become a collectable item, with some of his clients buying the stones to include as part of their retirement savings fund. 

Prices are rising 15 per cent a year because of increasing awareness of rare coloured diamonds, growing demand from China and India and the fact production at the Argyle mine is only guaranteed until 2020, says Mr Fardon.

In 2013 Rio said it was extending Argyle’s life until 2020 by building an underground extension to the existing open-cut mine. But it is uncertain whether Rio will sanction any new investment to extend the Argyle mine’s life beyond that date, in part because the valuable pink diamonds make up a small fraction of the mine’s total output.

“The odds are the mine will close a year or two after that, which means these stones will become more and more valuable,” says Mr West, one of the world’s most prodigious buyers’ of Argyle pinks. 

Mr West says he plans to show the Argyle Violet in an exhibition at the Museum of Natural History in Los Angeles to raise awareness of coloured diamonds.

“It’s important to let the public see them and get the word out. That can only add value to the market,” he says.

The Company that Bought the Violet Diamond

By Michelle Graff - National Jeweler

So is violet the rarest hue of diamond there is? “There’s no question about it,” said Larry West of L.J. West Diamonds, the company that placed the winning bid on this 2.83-carat violet diamond from the 2016 Argyle tender.

New York--It’s the biggest violet diamond ever found at Australia’s Argyle Mine, and it now belongs to a New York company that’s been in the colored diamond business for nearly 40 years.

L.J. West Diamonds Inc. placed the winning bid on the 2.83-carat “Argyle Violet,” the centerpiece of this year’s Argyle Pink Diamonds Tender, Rio Tinto’s annual sale of the top diamonds to come out of its Argyle mine.

Company President Larry West said the Violet, a diamond that generated a lot of interest and excitement, was a stone he “really wanted to possess.”

“There’s such a huge disparity between this size and the next biggest violet stone that’s ever come out of the (Argyle) mine,” he said, referencing the 1.41-carat Ocean Seer from the 2008 tender. “It’s such a rarity that I felt it was worth bidding on.”

West is not saying how much he paid for the stone, which is being set in a ring and surrounded by smaller Argyle pinks, though he did reveal that it will be available to purchase next year.

But he won’t be taking the violet diamond to Christie’s or Sotheby’s to sell it.

Rather, L.J. West Diamonds will offer the Argyle Violet through its network of retail partners after it is featured in the “Diamonds: Rare Brilliance” exhibition slated to run from December to March 2017 at the Natural History Museum of Los Angeles County.

“I am glad to have it shown,” West said of the violet’s inclusion in the exhibition. “It’s so rare. Nobody’s ever seen stones like this, and I think it’s important for them to be out there in the public domain. It makes it more real for people; it’s not just a story.”

This year, a total of 63 pink, red and violet diamonds--collectively dubbed “The Chroma Collection”-- comprised the Argyle tender, which was 100 percent sold by lot.

Collectively, the stones represented the highest quality, size and color composition in the tender’s 32-year history and, consequently, achieved the highest average price per carat ever.

Beyond L.J. West Diamonds, Rio Tinto did not reveal the names of any companies that purchased a diamond from the tender, nor did it share prices.

Read the full article here

Blue Belles

Joyce Kauf of Rapaport Magazine

Blue diamonds have been stealing the spotlight as prices skyrocket.

Blue Diamonds have become celebrities on the auction scene with all the attendant fame. The fan fare continues this month with an 8.01-carat fancy vivid blue diamond ring by Cartier, named The Sky Blue Diamond, set to be auctioned at Sotheby’s Geneva. But what accounts for the soaring interest and stratospheric prices that these diamonds command in today’s market? From gemologists to diamond brokers to the heads of jewelry sales at the two major auction houses and an industry expert, the answer can be summed up in two words: extremely rare.

A rare Natural Intense Blue Diamond set in a white diamond necklace by Scott West by L.J. West Diamonds

““more and more people are discovering the beauty of a blue diamond,” ”

— Larry West

“There is so much more buzz now. There is more awareness of how rare these diamonds are,”explains Larry West,president of L.J.West Diamonds, a color diamond specialist based in New York City. “Previously, information about these exotic stones was only available to the most involved collectors.But now there are more discussions within the high-end jewelry trade.”And while collectors might consider a blue diamond the ultimate investment, “more and more people are discovering the beauty of a blue diamond,” says West, who admits to being“passionate”about these diamonds.

“Perhaps one in 10,000 exhibits any color. A diamond with any evidence of blue color—even if the color is very faint—is less than one-tenth of 1 percent of what would be mined in one year.” Historically, some blue diamonds were discovered in the Golconda region in India; the Hope Diamond has been traced to that area.However, the only source to produce a very small but consistent supply of blue diamonds is the Cullinan Mine in South Africa,owned by Petra Diamonds.