Powered by momentummedia
nestegg logo
Powered by momentummedia
nestegg logo
nestegg logo

Invest

Pink diamonds dazzle investors as price set to soar

By Grace Ormsby · September 24 2019
Reading:
egg
Pink diamonds

Pink diamonds dazzle investors as price set to soar

author image
By Grace Ormsby · September 24 2019
Reading:
egg
Pink diamonds

The closure of Rio Tinto’s Argyle Mine in Western Australia is expected to send the price of pink diamonds sky high at an upcoming auction.

As one of the world’s rarest coloured diamonds, pink diamonds represent less than 0.1 per cent of all diamonds, with 90 per cent of the world’s output of coloured diamonds coming from the Argyle mine.

To put that into some form of perspective, the Western Australian mine’s annual production of pink diamonds “would fit in the palm of your hand”, according to a statement.

The recent announcement of the mine’s closure has hit news headlines worldwide, and has prompted speculation about the potential value of investing in coloured diamonds.

An upcoming auction will see a number of items containing pink diamonds go under the hammer this Thursday, 26 September 2019, and include a solitaire brilliant cut diamond and two rings that feature pink diamonds.

Advertisement
Advertisement

The upcoming sale follows the 2018 auction of a Pink Legacy diamond by another auction house for nearly $70 million.

Commenting on the pink diamonds up for grabs, Lloyds Auctions’ chief operations officer, Lee Hames, said: “This pink diamond is beyond rare and is in extremely high demand worldwide, so we feel very privileged to see one a year, but to have a few in the same auction is a privilege.

“We predict that these pink diamonds will sell far exceeding their valuations due to the closure of the mine, and the interest we have had so far.

“We have two rings featuring pink diamonds valued at nearly $600,000 as well as a solitaire brilliant cut diamond worth over $350,000 from the Argyle mine.”

Pink diamonds dazzle investors as price set to soar
Pink diamonds
nestegg logo

Forward this article to a friend. Follow us on Linkedin. Join us on Facebook. Find us on Twitter for the latest updates
Rate the article
author image

About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

About the author

Grace is a journalist on Momentum Media's nestegg. She enjoys being able to provide easy to digest information and practical tips for Australians with regard to their wealth, as well as having a platform on which to engage leading experts and commentators and leverage their insight.

Join The Nest Egg community

We Translate Complicated Financial Jargon Into Easy-To-Understand Information For Australians

Your email address will be shared with nestegg and subject to our Privacy Policy

From the web

Recommended by Spike Native Network

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

Copyright © 2019 MOMENTUM MEDIA