A Bid Above the Rest
To bid on an Argyle Pink Tender Diamond you have to be a top specialist in color diamonds. You need to know and understand the real value of each of the stones and be able to assess their potential.
Winning 26 stones of the 65 offered in this year's Tender required special skill.
Argyle Tender Diamonds of 2015
The Tender is the most complex undertaking for each bidder. No more than 200 attendees are invited to this exclusive event. If you don't receive an invitation, there is no way to get yourself in. Argyle puts their heart into it. They promote the Tender to all the largest media outlets as the collection of their best diamonds mined that year. Each stone is given a lot number, and a respected place within the Argyle Tender collection. Each stone is sold together with its own copy of the Argyle Tender book and needless to say comes with all Argyle and GIA certification. They also provide an estimated value each stone should be sold for.
The Argyle Pink Diamond Tender Book 2015
However, if you think that you can orientate yourself on Argyle estimates '- you are dead in the water. Shmulik bid 40% over Argyle's estimates on some stones and still didn't win. On others, he offered only half and won the stone. Upon submitting your bids, you can rely solely on your own judgment.
Shmulik at the Argyle Diamond Tender
Leibish & Co. was invited to participate, as we have a solid worldwide base of loyal customers behind us. Interestingly enough, we have found that no one loves pink diamonds more than the locals from Australia. In fact, it is as if Argyle has figured out a way to plant a secret microchip within the stones, sending out a message that these Australian Pink diamonds want to return home.
Collectors and lovers of these wonderful creations are eagerly awaiting the outcome of the Tender. Everyone who truly understands these stones wants to own one. We receive many requests from our clients, even prior to the event. Each of the Tender diamonds is a rare, one-of-a-kind timepiece that can never be duplicated. These stones are the 'best-of-the-best' of Argyle's yearly production.
In any other type of public auction, you are bidding against all the lower bids. You also have the control to stop when the bid is exceeding your limit. But, in the Tender you are bidding against the darkness. You don't know if your bids are higher or lower than all the other bids, and you need to ensure you will still allow yourself the ability to offer your buyers an excellent price.
Bidding on Argyle Tender Stones
Shmulik became a diamond buyer when he was only 25 years old. Once completing the GIA gemology course in London, England, he returned home as a licensed GG GIA Graduate Gemologists. To test whether he had actually learnt something during his studies, we sent him to Bombay to buy $50,000 dollars worth of goods. He returned home with a big box of $250,000 of goods.
I gave him hell. “Why did you buy so much? Who will buy all of it?” I said. But, our GG GIA just smiled and collected all his goods from the table. “Papa - trust me,” and he walked out of the room with the box under his arm.
Not even an hour had passed, and he walked back into the office with a serious look on his face. Only this time, it was without the box. “I sold everything in a single transaction,” he said as he placed the buying slip on the table. He received cost plus 12%.
I looked at my son, and shook his hand. I apologize for doubting you. From today, you are the chief buyer of Leibish & Co.
Leibish & Shmulik Polnauer
Over the years Shmulik has made a name for himself. He has an ability to recognize potential where others can't. He sees the goods, and knows what they are worth in the market and what he should pay for them in order for us to continue our business.
Shmulik arrived back from this year's Argyle Tender with a good feeling. He has had big wins in the past and others where he won less. This year, he managed a collective 26 Argyle Tender stones as well as four others from the Once in a Blue Moon Tender.
Shmulik won one tender stone in 2009, two in 2010, two in 2011, six in 2012, 17 in 2013, 2 in 2014, and 26 this year.
The market moves up and down, but fancy colored diamonds mean something different to people. They are not just another commodity, whose prices depend on the world’s economy. There is good reason that prices for all colors are consistently increasing. History doesn't lie, and diamonds are forever!
Leibish Polnauer, President and Founder of Leibish & Co. Fancy Color Diamonds