Price determination can be a difficult task when it comes to “alternative” goods such as art or jewelry. This makes the future week-long auction of pink diamonds from the Argyle mines even more interesting.mine owners, Rio Tinto, sell around 60 highest classes of pink diamonds annually to industry customers in auctions whose prices are never disclosed. But on a Tuesday evening in Melbourne, 1.17t, the Argyle 2010 series of pink diamonds will be exposed to public sales and give investors unique insight into the price of such stones. Less than 0.1% of the diamonds extracted from Argyle are pink stones, but the Kimberley mine supplies 95% of the world’s resources.
If these statistics do not show any evidence of their infrequently, it should be added that the Argyle mine is already considered in a declining period and is only guaranteed until 2020. “the quality of these stones is worse and worse, so compared to last year’s collections, this specimen is great,” said Patti Sedgwick, managing the auctions of jewelry at Mosgreen. Mrs Sedgwick said that the owner of the stone put out in the auction hopes that the uniqueness of this diamond will be a factor which will encourage the proposed purchaser to deposit more than one million dollars for the stone that goes under the hammer on Tuesday. “he was in his possession since 2010 and decided that it was high time to sell him. I think it is optimistic about the market and we will soon see if it is right,’ she said. Market rumors suggest that the stone was sold in 2010 for approximately USD 600 thousand. “IN the cupolas I have heard of the various amounts, the prices of the pink Argyle diamonds were supposed to rise by 20% each year. I have also heard that they have raised 375% in total since 2010, so that would be a very good return,” said Sedgwick, refusing to give the stone vendor’s identity. “there are some differences between the types of potential buyers. The first is the person who is looking for a different kind of goods to diversify his portfolio, already containing enough shares or gold. It could be someone who wants to wear the diamond as a theme rather than holding it in a safe.”