Monthly Archives: October 2013

ARGYLE PINK AUSTRALIAN DIAMONDS ON OFFER

Leibish & Co. now possesses seven of the 64 lots offered at Rio Tinto’s Argyle Pink Diamonds Tender in Australia. The seven diamonds together comprise of two heart-shaped gems, two radiants, a round, an oval and a princess.

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All of the stones weigh less than one and the potency of pink vary too. Leibish & Co. has sent two of the stones for polishing wheel since the think that a better color can be achieved while the other diamonds are for sale. During this year’s tender, Rio Tinto sold the two stones that broke previous sales records. An Argyle Phoenix, a 1.56 carat fancy red diamond, to a buyer in Southeast Asia and the Argyle Dauphine, a 2.51 carat fancy deep pink diamond to a buyer from the U.S.

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Henry Sapiecha

pink diamonds line image www.worldwidediamonds.info

SMALL 1.56CT PINK ARGYLE DIAMOND GETS OVER $2M IN SALE TO OVERSAEAS BUYER IN AUSTRALIA

ARGYLE PINK DIAMOND FETCHES OVER $2M IN AUSTRALIA BY OVERSEAS BUYER

The Argyle Phoenix, a 1.56 carat Fancy Red diamond, fetched the highest per carat price for a diamond ever produced from the mine.

Rio Tinto has sold a rare Argyle diamond for a record $2 million as overseas buyers snapped up dozens of precious stones in this year’s Pink Diamonds Tender.

The tender of 64 pink, red and blue diamonds set a string of records for Rio, including the highest price for a diamond from the Argyle mine in the Kimberley region of Western Australia.

The Argyle Phoenix, a 1.56 carat Fancy Red diamond, fetched the highest per carat price for a diamond ever produced from the mine.

Bids broke through the $US2 million ceiling and there were a record number of bids above $US1 million for other single stones.

‘‘We are delighted with the results for the 2013 tender collection which are a reflection of their rarity, provenance and global reach,’’ Rio Tinto Diamonds managing director Jean-Marc Lieberherr said.

Many of the diamonds fetched prices above pre-tender estimates, reflecting increasing demand from the world’s top jewellers, designers, collectors and connoisseurs, he said.

All of the 64 diamonds in the 2013 Tender were sold.

‘‘Both established and emerging markets were well represented in the winning bids,’’ Rio said.

Argyle produces around 90 per cent of the world’s rare pink diamonds and is the world’s largest supplier of natural coloured diamonds.

In April Rio opened its new $2.2 billion underground diamond mine at Argyle amid predictions it will produce up to 20 million carats per year and extend the overall mine life until 2020.

In June the company took its global diamonds business off the market following a strategic review.

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Henry Sapiecha
pink diamonds line image www.worldwidediamonds.info

WORLDS MOST EXPENSIVE DIAMOND EVER SOLD IN SOTHEBY’S HONG KONG FOR $30.8MILLION

Egg-sized ‘perfect’ 118ct white diamond fetches record $30.8 million in Hong Kong

$31M perfect egg size white diamond image www.worldwidediamonds (2)perfect-white-diamond-unveiled-in-Hong-Kong-

A “flawless” white oval diamond the size of a small egg sold for $30.8 million at Sotheby’s Hong Kong auction on Monday night, the most paid for a colourless diamond at auction.

The previous records for both price and size for a perfect white diamond were set by Christie’s, which sold its 101.73-carat gem for almost $27 million in May this year.

Sotheby’s said two phone bidders competed for the 118-carat for about six minutes.

A rare blue diamond that was the night’s other highlight with a $19 million estimate failed to sell, added the auction house.

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Henry Sapiecha

pink diamonds line image www.worldwidediamonds.info

ANTWERP DIAMOND TRADER GOES BANKRUPT OWING $26M TO CREDITORS

An Antwerp diamond firm has gone bankrupt owing payments to banks and other creditors of $26 million marking the largest single default in the year. The firm’s owner reportedly disappeared last week, citing losses.

BACK WHITE DIAMOND CRYSTAL

The case follows one last month when a trader from Surat defaulted on rough diamond payments to at least six Indian traders in Antwerp. He had purchased rough diamonds on 120-day credit terms and was unable to make the payment due to the declining rupee, a leading paper reported. Industry sources claim that the diamond firm trades rough and polished diamonds on Hoveniersstraat in Antwerp. The Indian traders are taking a hit since they are having to find extra rupees to make up for its fall against the dollar. On the other hand, they are having to buy rough at high prices and finding that polished prices are either static or declining.

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Henry Sapiecha

pink diamonds line image www.worldwidediamonds.info