COVID AND PINK DIAMONDS
Posted By: Dr. Vernon Thomas, November 4, 2020
As we move through one of the strangest years ever for investors, safety, growth and privacy are still number one concerns for investors the world over.
Whether it’s Covid in 2020, the tech crash of 2001 or the housing crisis in 2008, Pink diamonds have held their value as well as steadily increasing.
For those who are investing during a pandemic, pink diamonds should be included in that strategy. To avoid stock market volatility, maintain investor privacy and to allow for the ultimate in portfolio diversification, pink diamonds.
have proved successful as shown in the chart below.
THE ARGYLE DIAMOND MINE
Never before, and never since, has there been a diamond mine that consistently produces rare pink diamonds like the Argyle Diamond Mine. Located in Perth, Western Australia.
Discovered in 1979 and operational as a mine by 1985, Rio Tinto, the largest mining conglomerate in the world has mined the world’s most exquisite natural colored gems at Argyle. Yet none are more rare or beguiling than the Argyle pink diamond.
Prior to the 1980s, world production of pink diamonds had been sporadic and limited to a few international mines. However, for the past 40 years, Argyle pink diamonds of a depth and range of color never seen before, have commanded the world’s attention since their discovery.
Argyle pink diamonds are rare; in fact they are beyond rare and up to 100 times the price of equivalent white diamonds. Currently, the Argyle mine supplies approximately ninety percent of the worlds pink diamonds. Astonishingly, a whole year’s worth of production of stones over half a carat would fit in the palm of your hand.
They are highly sought after by investors, jewelers and their customers, celebrities, and diamond aficionados.
They are prized by all who possess them and revered for their unique provenance, intrinsic beauty and extreme rarity. They are the Picasso’s or the Van Gogh’s of the Colored Diamond world!
THE MINE THAT PRODUCES 90 PERCENT OF THE WORLD’S
PINK DIAMONDS IS DRYING UP. HERE’S WHY
robbreport.com,November 6, 2019
At Argyle, the average annual Pink diamond output has been about 10,000 polished carats out of 20 million carats mined. But there are as few as 150 carats or so left. Most other mines will be lucky to unearth one pink per year!
At Argyle, it’s about one pink carat for every 2,000 carats mined. Even more astonishingly, they are consistently of the highest caliber, with a strong, pure, intense shade. “To call an Argyle pink rare is an understatement,” says Murray Rayner, a geologist who has worked at Rio Tinto, the mine’s owner, for 16 years, “It’s so much rarer than rare – it shouldn’t exist.” Indeed, the likelihood of even one such diamond forming was thought akin to winning the lottery twice on the same day; to the delight of Rayner and the other geologists at Argyle, it has happened over and over again. The discovery of pink diamonds here has been vital for the global supply, producing 90 percent of those sold since it opened; even then, the average annual output has been about 10,000 polished carats.
Until the Argyle seam was found, pink diamonds were so rare that they barely registered on Auction House radar. This mine transformed the market by providing a small but steady stream of top-tier gems for more than 25 years! Rio Tinto has announced it will shutter operations at Argyle permanently in 2021 – and it estimates that there are just 150 or so Argyle pinks left to be unearthed there before it does. It’s a Herculean task. In the cool, damp tunnels under the earth where the final excavations are taking place, dumpers deposit tons of stony soil, which clatters nosily as it’s sifted, every hour, every day. Those 150 pinks lurk somewhere in that gray sludge, golden-ticket-style.
RIO TINTO TO SELL FINAL ARGYLE SPECIALS
Rapaport,October 21, 2020
Rio Tinto will launch a Tender of large rough diamonds, including the last of its special stones from the Argyle deposit in Australia.
The Tender will feature 28,399 carats of special-sized rough from Argyle at the sale, which will take place in October and November, Rio Tinto said Tuesday. Colored diamonds from the site, as well as a 26-carat, gem-quality piece of rough, will also be available.
“The Argyle rough diamonds presented at this tender are a final rare and collectible offering from one of the world’s greatest diamond mines,” noted Andrew Wilson, general manager of Argyle.
Rio Tinto will also offer large diamonds from its Diavik mine in Canada, including the Diavik Helios, which will headline the sale. The 74.48 carat, fancy-yellow diamond was named for the pure yellow sunlight emitted by the mythical Greek sun god.
“The Diavik Helios is an exceptional diamond in terms of its color saturation and clarity, and will be in strong demand from colored-diamond specialists around the world,” said Patrick Coppens, general manager of sales and marketing for Rio Tinto’s diamond business.
The company will showcase the diamonds physically in Antwerp and Tel Aviv, Israel, prior to the sale. It will also hold virtual and online viewings due to Covid-19 travel restrictions, it said.
SOTHEBY’S EXPECTS PINK TO FETCH UP TO $38M
Rapaport,October 12, 2020
Sotheby’s will sell the largest vivid-purple-pink diamond ever to appear at auction, with expectations it could achieve up to $38 million at a November sale.
The oval modified brilliant-cut, 14.83-carat, fancy-vivid-purple-pink, internally flawless, type IIa stone is set to go under the hammer at the Magnificent Jewels and Noble Jewels auction in Geneva on November 11, Sotheby’s said Monday. The company has given the piece a presale estimate of $23 million to $38 million.
“Pink diamonds, perhaps more than any other colored diamond, have captured the imagination of collectors for centuries, making up five out of the 10 most valuable diamonds ever sold at auction,” said
Benoit Repellin, head of the auction house’s Geneva Magnificent Jewels auction. “These exceptional sales, all realized in the last decade, are a testament to the growing appreciation and awareness of the great scarcity of these natural treasures around the world, and with the supply of these beautiful stones becoming ever more limited, they are likely to continue to become even more prized.”
Editors Note: Astute Investors who might look at the best blue chip stocks or the best dividend stocks are adding Pink Diamonds to their overall portfolio. As prices for Pink Diamonds keep going up they are getting strong growth and overall portfolio protection. Pink Diamonds will be one of the best Hard Assets to invest in for 2020 and in 2021. As the Mine closes in 2021 and with no supply in sight, prices are poised to go nowhere but up! If you have an interest in Pink Diamonds as a Wealth Accumulation vehicle, please do not hesitate to contact us.