Kumning purchased the entire 41-lot Argyle collection – totalling 24.88 carats – which was titled the Once in a Blue Moon Tender.
The Argyle mine in the East Kimberley region of Western Australia is best know for its pink diamond production however, small blue and violet diamonds were the occasionally discovered. They have been described as “a beautiful array of shades”.
Following the tender, a Rio Tinto media release stated that “with the closure of Argyle it is extremely unlikely that there will ever be another collective offering of iconic gems in this colour spectrum from a single mine.”
Sinead Kaufman, chief executive Rio Tinto Minerals said, ”The rarity and beauty of the Once in a Blue Moon diamonds speaks volumes. They are highly coveted, the ultimate limited edition and we congratulate Kunming Diamonds on their global bid.”
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Kunming Diamonds, which has had a log association with Argyle’s pink diamonds, is a founding member of the Hong Kong Indian Diamond Association, an honorary member of the Natural Colored Diamond Association (NCDIA), and a member of the Fancy Color Research Foundation (FCRF).
Harsh Maheshwari, executive director Kunming Diamonds said, "We are delighted to be part of Argyle's legacy in this historical moment, acquiring the Once in a Blue Moon collection. We cherish becoming the custodians of the final Australian treasures from this iconic and industry-defining mine, and look forward to unearthing the incredible possibilities in the years to come."
He added, “Beyond the fact that this collection is nature's finest and ultimate treasures, the Once in a Blue Moon collection was the climax of the mine's billion-year-old heritage, and its historic ascent of over three decades to the pinnacle of luxury.”
The closure of the mine has meant that diamond suppliers have to consider life after Argyle.
“We only had one thought in mind whilst seeing them and placing our bids, it will be extremely unlikely that there will ever be another cumulative offering of iconic gems in this colour, of blue and violet, spectrum from a single mine,” Maheshwari explained.
According to Maheshwari, it meant that "there was a lot of sentiment and psychological price additional paid to be confident at this Tender."
Pink perfection
In other news, Rio also conducted a pink diamond tender consisting of 70 rare pink and red stones. The collection, titled The Journey Beyond, is a historical collection mined at Argyle in the final year of its operation.
According to a Rio statement, the tender was a “record breaking price performance across individual diamonds and for the overall collection. The diamonds were fiercely contested around the world in a series of virtual and face-to-face viewings.”
There were 19 successful bidders from nine countries. Australian jeweller, John Calleija, won Lot 1, Argyle Eclipse, a 3.47-carat, radiant shaped fancy intense pink diamond.
He was also the successful bidder for Lot Number 5, Argyle Bohème, a 1.01-carat, radiant shaped, fancy red diamond.
“It is an extraordinary opportunity and a privilege to be part of this historic collection. We are humbled to be the custodians of these uniquely Australian jewels and are delighted to be part of their enduring legacy,” Calleija said.
Long-standing bidders won three other diamonds from the collection. Lot 2, Argyle Stella and Lot 4, Argyle Solaris were purchased by Singapore interests, while Lot 3, Argyle Lumiere went to the US.
Maheshwari said that COVID-19 had impacted the most significant factor when placing a bid for these quality diamonds: the travel to physically view the stones, “but it's 2021 and technology has proven to be an integral part to the success of the Signature Tender - only around a third of the participants viewed the collection virtually.”
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