Rio Tinto’s Blue Diamond Tender Ends, "Exceeds Expectations"

Rio Tinto’s tender of rare blue and violet diamonds ended recently, realizing record prices according to the company, which did not disclose any specific figures. The diamonds, dubbed the ‘Once in a Blue Moon “collection, included a range of diamonds, divided into16 lots weighing 287 carats in total.

Sourced from several years of production at the Argyle diamond mine in Western Australia, the company said the tender prices "far exceeded the company’s expectations."

But while the company is sheepish on the sale prices, not disclosing the total prices or even if all the diamonds were sold, according to Jean-Marc Lieberherr, Rio Tinto’s general manager of diamond sales and marketing, “it was a bold move, with numerous lots selling in excess of the reserve prices, which is a great sign in the lead up to our annual pink diamond tender.” A request for more details about the tender was not answered at publication time.

"We have been overwhelmed by the enthusiasm from new and existing colored diamond collectors around the globe," said Josephine Archer, sales and marketing manager for Argyle Pink Diamonds.

The collection was showcased in Tokyo, Hong Kong and Perth with bids closing on April 8. It included single cuts, a number of matching pairs and a selection of smaller diamonds. In terms of quality, Rio Tinto defined the diamonds as “premium” and commercial diamonds.

The Argyle diamond mine is known for its colored diamonds. While most are brownish in color, the mine also produces rare pink, red, violet and gray stones. Rio Tinto usually polishes these diamonds in-house and tenders them to traders and collectors.