Tiffany buys 35 of the last diamonds recovered from Argyle

Michelle Graff

Purchased directly from Rio Tinto, the collection consists of pinks, purples and one red, none larger than 1.52 carats.

Tiffany & Co. has purchased 35 diamonds from the Argyle Diamond Mine in Australia, a “final bespoke curation” of the rarest stones from the now-closed mine, the jeweler said.

Reported in Sunday’s New York Times and formally announced by Tiffany Tuesday [24] morning, the retailer bought the diamonds directly from Rio Tinto, which unearthed the diamonds in the mine’s final days.

The cache, dubbed the “Tiffany Collection,” comprises fancy intense pink, fancy intense purplish-pink, fancy vivid pink, fancy vivid purplish-pink and deep pink diamonds, as well as one fancy red diamond.   

They range in size from 0.35 carats to 1.52 carats, a typical size for the most desirable pink and purple diamonds from the mine though, Tiffany noted, there are two diamonds over 1 carat. (The biggest vivid pink diamond ever included in the Argyle Pink Diamonds Tender was 3.14 carats, the aptly named “Argyle Alpha.”)

Tiffany is not disclosing the purchase price, though brand President and Chief Executive Anthony Ledru confirmed to the Times it was the jeweler’s largest purchase of 2022.

The jeweler said Tuesday it will show the diamonds to select clients for a limited time at “global Tiffany high jewelry events;” the Times reported the diamonds will be shown in New York City and Doha, Qatar.

Tiffany also will incorporate the pink diamonds into capsule collections and, potentially, pieces in Blue Book, its annual high jewelry catalog.

Located in Western Australia, the Argyle Diamond Mine opened with alluvial mining in 1983 and closed in November 2020, spelling the end of a major source of natural colored diamonds and removing a total of 11 million carats from the market, about 10 percent of global supply.

Though most of its production consisted of brown diamonds, Argyle became famous for its vivid pinks, reds, and purples, the best of which Rio Tinto took on a global tour each year for the Argyle Pink Diamonds Tender.

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Source National Jeweler

Photos © Tiffany & Co.