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Rio Tinto pink tender 'exceptional'

Sale generates unprecedented interest in major markets

October 22, 2009
Four heart-shaped pink diamonds were among the 43 stones included in Rio Tinto's 2009 Argyle Pink Diamond Tender, called "Grand Passions." According to Rio Tinto, all 43 stones included in the tender were sold.

Perth, Australia--Rio Tinto reports that its Argyle Pink Diamond Tender, showcased around the world from June to September, produced exceptional results that belie the global financial crisis.

According to a media release from the Australia-based mining company, all 43 diamonds included in the tender, titled "Grand Passions," sold.

"This year's collection was keenly contested by investors, collectors and diamond experts from around the world," Jean-Marc Lieberherr, general manager for the sales and marketing for all diamonds from Rio Tinto's mines, said in the release. "All diamond were sold, and we were delighted to see strong representation from the growing markets of India and China, as well as the more established markets for rare colored diamonds."

Rio Tinto doesn't release the prices of pink diamonds sold at tender, but Josephine Archer, business manager for Argyle Pink Diamonds, said in the release that the results "demonstrated a significant global reach with very strong price appreciation."

The tender included private viewings in Hong Kong, London, Perth and Sydney, Australia, and, for the first time ever, Mumbai, India. It was not shown in New York.

Rio Tinto's master craftsmen cut and polished all 43 diamonds in Perth, Western Australia.

Some of the more notable pink stones that were part of "Grand Passions" included a 2.61-carat intense-pink heart-shaped diamond named Argyle Amour, a 1.25-carat purplish-pink round diamond called Argyle Shalimar, and a 1.10-carat red oval-shaped diamond named Argyle Scarlett.

"The diamonds sold at this year's tender will go to a range of individual diamantaires, jewelry manufacturers and luxury retailers across all major markets," Archer said in the release. "The ultimate consumers for these diamonds are likely to be investors, collectors, celebrities and high-net-worth individuals."
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