While the 2017 Exclusive Event at the Argyle Pink Diamonds Mine is still some time away, everyone is getting excited and anticipating the event. With fancy pink diamonds, these are well sought after and the anticipation is high.
This is an invitation only event and to be on the list is quite the honor. It gives people the opportunity to bid on some of the most rare pink diamonds from the Argyle Mine. Michael King, Director of the Trading in Toronto works for Paragon International Wealth Management. They are the leaders in managing and acquiring the fancy pink diamonds.
According to Michael King, there are many questions regarding the Rio Tinto Group’s diamonds. Last year, there was a leadership change that heightened the interest in this year’s tender. In 2016, Jean-Sebastien Jacque moved to the top position of the world’s largest diamond mining company. There was a lot of speculation as to whether or not he would sell the business, or spin out the diamond portion of the business, however, in December, the company was possibly expanding.
Paragon International Wealth Management Co Predicting the Rise in Demand for Argyle Diamonds
Future availability of the rare pink diamonds was continuing to create quite the buzz. It influenced prices and has been an ongoing discussion for quite some time now. Questions arose regarding the future of the mine. Was it nearly exhausted? Would there still be diamonds to mine? Currently, the anticipated closing date is in the year 2020. Meanwhile, diamond prices are continuing to rise.
Alone, these diamonds are rare. Prices peaked last year for the Argyle Pink Diamonds Tender and the event is well worth the price of admission.
At present, the Argyle mine is the main source of approximately 90% of the world’s highest quality pink diamonds. Less than 1% of the diamonds found in the mine graded as pink. The absolute best diamonds that the mine produces each year have been saved to display at the annual tender event.
In the year 2016, a collection named “Chroma” showcased 63 of these rare pink, red, and violet colored diamonds. This according to Rio Tinto. These stones were comprised of the highest quality diamonds in both size and color composition. This was the best collection in the year’s 32-year history. One of the diamonds was an Argyle Violet, it came in at 2.83 Carats and was considered to be the most valuable violet colored diamond ever.
Differing from other auctions, the bidders in this auction don’t know the amount that others are bidding on the various diamonds. Only one single bid is allowed for each diamond and the highest bidder will take it home.
Last year, in October, they managed the highest ever average of price per carat since beginning the Tender in the year 1984. In the previous ten years, they’ve years, they’ve appreciated by over 300%.
Clearly, the year 2017 will go down in history as well for the record books as the best year for the fancy colored diamonds per Michael King who is the director of the Trading Department for Paragon International Wealth Management. The company is based in Toronto and specializes in giving advice to clients regarding adding these fancy colored diamonds to their investment portfolios.
One pair of these fancy colored diamond earrings has set a new auction record on May 16th. The earrings sold for $57.4 million at none other than Sotheby’s Geneva Magnificent Jewels and Noble Jewels sale.
This mismatched pair of diamonds (one is pink the other blue). Were auctioned in separate lots. However, they were both sold to the same buyer who remains anonymous.
Pear-shaped diamonds have been named after Greek deities and their twins of sister Apollo and Artemis. The 14.54 carat was Apollo Blue and sold for an astounding $42.1 million. Meanwhile, the 16-carat Artemis Pink sold for a staggering $15.3 million. The pair set a record as the most expensive earrings that were ever sold at an auction. Previously, the record holder was the earrings titled “Miroir de l’Amour” and they sold for $17.6 million through Christie’s in the year 2016.
Clearly, the Apollo is truly a collector’s gem per Paragon International Wealth Management said, Michael King. The largest and flawless fancy vivid blue of this diamond is the most perfect diamond ever found and auctioned. Statistically, less than 0.1 percent of diamonds show any hint of blue and only a very small percentage of them will be graded Fancy Vivid Blue per the Gemological Institute of America or GIA. The Artemis Pink is the chemically pure kind of diamond per the Gemological Institute of America.
Michael King, along with his colleagues from the Paragon International Wealth Management, predicted a high buyer interest in the pink and the blue earrings early in May of that year. They cited the record-breaking sale for the Pink Star diamond at $71.2 million at Sotheby’s in the month of April 2017.
According to Michael King, the demand and interest in such fancy colored diamonds as an investment remains strong.
In the previous five to 10 years, prices are escalating according to David Bennett, the worldwide chairman of Sotheby’s International Jewelry. Those who own such important colored diamonds fully understand and are completely aware of how strong the market is.
About Paragon International Wealth Management Toronto
This Toronto-based wealth management leader is in the acquisition and management of the fancy colored diamonds for investment purposes. They offer their clientele unparalleled advice as well as guidance in assembling the successful hard asset investments portfolios.
In recent years, fancy colored diamonds have shown a significant high-profit margin when compared to other hard asset investment products. They are fast growing in popularity as an investment tool. Paragon has combined their experience and allowed their clients to boost their portfolios and gain annual returns on their investments.