Rare Pink Diamonds Could Fetch Millions in Exclusive Sale

In New York this week, rare pink diamonds were on display ahead of what's known as the most exclusive diamond sale in the world. The pink diamonds come from the Argyle diamond mine in Western Australia, which is owned and operated by Rio Tinto (RIO). According to the company, just one tenth of one percent of the mine's diamonds are pink. 'The color in the Argyle Pink Diamond is unrivaled. There’s nothing else that I’ve seen in the world that has this strong of a pink color in it,' said Jordan Fine, president of JFINE, a boutique diamond company that specializes in rare color diamonds. ‘The fact that these stones are extremely rare is causing almost a renaissance I would say with collectors seeking to find the best pinks they can find.’ Each year, Rio Tinto holds an Argyle Pink Diamonds tender, offering tender viewings this year in New York, Sydney, Hong Kong, and Perth, Australia. The diamonds are shown at invitation only viewings which are attended by prospective buyers, who then submit sealed bids by October 21.