The most exclusive, invitation-only, diamond sale in the world. Each year, the finest and rarest diamonds are reserved for the annual Tender for diamonds from the Argyle mine. The event highlights a small number of important diamonds that stand apart from their peers in terms of vibrancy and intensity of colour.
The Tender is only open to specially selected diamantaires and collectors by invitation. Rare pink diamonds are coveted by many, but owned by few.
Private Tender viewings are held in Hong Kong, New York and Sydney. With past Tenders having traveled to Antwerp, Geneva, London, Tokyo, Singapore, Mumbai, Shanghai and Beijing.
Generally and historically speaking, once the Tender diamonds are allocated, there is a shift in the market price for the existing diamonds from the Argyle mine. The price of existing diamonds are then revalued in accordance to the outcome of the Tender.
The world’s passion for these stones has only intensified through the Tender and the price of rare pink diamonds has risen steadily year-on-year. Pink diamonds continue to outperform major equity indices. And as is the case with the acquisition of fine art, set rules simply do not apply.
How Does This Affect The Pink Diamond Market?
Approximately 150 connoisseurs, collectors and luxury jewellers are invited to place sealed, undisclosed bids on the diamonds. Prices for these diamonds can exceed millions per carat. Around October every year, the Tender process is finalised and the bidders of the new allocations are advised if they have been successful in their bid.
How Rare Are These Diamonds?
The Argyle mine is the world’s most important source of pink diamonds and accounts for around 90% of the world’s pink diamond supply. To put this rarity in perspective, of the approximately 130 million carats of rough diamonds produced in the world each year, less than 20,000 carats are rough pink diamonds. Pink diamonds therefore comprise less than 0.01 per cent of global diamond production – tantamount to exclusivity, by any measure.
An entire year’s worth of pink diamonds from the Argyle mine over half a carat would fit in the palm of your hand. And the gems from this sprinkling that make it to the Tender exemplify the pinnacle of production.
When Did The Tender Process Begin?
The first tender took place in 1984 when 33 stones were offered with a total weight of just over 18 carats. Even this modest number created a sensation in the diamond industry. Never before had such a collection of high quality pinks been seen together. Most tenders now offer around 50-60 stones annually.