Argyle Holds Pink Tender in New York

September 23, 1999

Argyle Holds Pink Tender in New York

Pink TenderSeveral extraordinary gems were featured at this week's pink diamond tender in New York City, the second such event ever held in the U.S.

The invitation-only tender allowed bidders to see and make confidential bids on pink – and some red and blue – diamonds mined from Argyle's Australian mines during the past year. Australia is one of the few places in the world consistently producing such extremely rare diamonds.

The featured collection, a total of 51 diamonds, ranged in size from 0.5 to 2.76 carats. Among the exceptional diamonds were a 1.26-ct. heart shape with a GIA report stating it is "fancy vivid purplish pink, SI2;" a 1.73-ct. radiant cut with a GIA report stating it is "fancy deep purplish pink diamond, VS2" and a 0.73-ct. emerald cut with a GIA report stating it is "fancy red, I1." (Only a handful of known diamonds in the world are "fancy red.")

While Argyle held tenders for 15 years in several cities in the Far East, this marks only the second year the company has held an event in the U.S. "We're responding to changes in the market," says David Fardon, manager of Argyle polished sales. "Before, buying power and interest [for pinks] was in the Far East and Europe. The strong economy in United States is a very timely opportunity, due to the increased interest by the U.S. market in pink and fancy diamonds." Argyle will review the bids taken during all the tenders this year in Geneva, Switzerland, on Oct. 1, then notify the winners. Bidders can bid on individual items or the entire collection.

While it only makes this auction available to connoisseurs and high-end collectors, Argyle launched a pink melee campaign earlier this year to make rare pink diamonds more available to the high-end and mainstream jewelry markets. A number of U.S. manufacturers, including Suna Brothers of New York City and Alan Friedman of Los Angeles, CA, are designing and manufacturing exclusive pink melee diamond jewelry for retail sales.

- by Robert Weldon, G.G.