Rio Tinto unveils its largest red diamond

Rio Tinto’s Argyle mine, located in the remote East Kimberley region of Western Australia, produces enough gems to allow the company to host annual showcases of its rarest diamonds.

This year, the first exhibition took place at a Chelsea skyscraper in New York in front of a selected group of collectors and connoisseurs. The star of the night? The Argyle Everglow, a 2.11 carat polished radiant cut diamond that was assessed by the Gemological Institute of America as a notable diamond with a grade of Fancy Red VS2.

According to a press release, in the 33-year history of the Argyle Pink Diamonds Tender -as the show is called- there have been less than 20 carats of Fancy Red certified diamonds sold.

The price of the Everglow, however, was not disclosed. Still, The New York Times reports that the record auction price for a fancy red diamond is $5 million, paid three years ago in Hong Kong.

In total, there were 58 diamonds in the 2017 Tender weighing a total of 49.39 carats. Among them, there were four Fancy Red diamonds, four Purplish Red diamonds, two Violet diamonds, and one Blue diamond.

Argyle pink diamonds