Australia's '$900,000' Argyle diamond could still find its buyer



2015-06-26 11:57:52

Australia's '$900,000' Argyle diamond could still find its buyer

Just because a valuable stone fails to meet its pre-auction estimates doesn't mean it's game over...

After all the excitement in the run-up to the sale - "Australia's first-ever red diamond auction could realise $921,556" as we reported last week - this 0.82-carat red diamond failed to find a buyer at Sotheby's

Although the exceptional stone fell short of its estimates at the April 12auction in Oz, news reports suggest that the diamond -from Rio Tinto's Argyle mine in Western Australia -may stillfind a buyer.

According to the Australian Broadcasting Company (ABC), negotiations for the sale of the diamond have continued behind the scenes between the stone's sellers and interested collectors.

 Down but certainly not out:Australia's coveted Argyle stone

Apparently, jewel buyers have great faith in the investment power of red diamonds at the moment. And it looks likely that the Sotheby's Argyle stone may yet realise a price close to itsoptimistic pre-sale estimates.

The fancy purplish-red Argyle stone is flanked by a pair of fancy blue diamonds in a round brilliant-cut diamond surround, set into a platinum ring.

All values are shown in US dollars.

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