Last week we commented on the large increase in demand that we have seen at Australian Diamond Portfolio, with many clients either opening or adding to their pink diamond investment portfolio as 2019 comes to a close.
As we discussed, this has been driven by a number of tailwinds, including the pending closure of the Argyle Diamond Mine, which is on track to shut for good by the end of next year.
In this week’s “In the Loupe”, we wanted to share with you the latest news from the Argyle mine itself, which reinforces how strong the demand for Argyle pink diamonds is around the world today.
The headline below comes from a 20th November 2019 press release from Rio Tinto (the owner of the Argyle Diamond Mine), which discusses the results from this year’s 35th Argyle Pink Diamond Tender.
The press release noted that the 2019 Argyle Pink Diamond Tender saw double digit growth in the number of bids for diamonds, relative to the demand seen last year.
Successful bidders came from nine different countries, further evidence of the intense global demand for these diamonds, with one successful bidder stating that, “no other diamonds on earth match the rarity and provenance of Argyle pink diamonds.”
We very much agree with and share that sentiment, as both of these features, rarity and provenance, are essential characteristics of any investment diamond we present to clients of Australian Diamond Portfolio.