In 1985, after successfully establishing the reputation as producer of the finest natural pink diamonds in the market, Rio Tinto's Argyle diamond mine launched the first world renowned Argyle Pink Diamond Tender. Throughout each year, Argyle collects anywhere from 40 ‐ 70 of the very best Argyle signature stones found. They offer these goods to no more than 200 representatives of the most reputable diamond companies in an invitation only diamond tender, held at secret global locations.
Argyle Pink Diamond Tender Book
Clearly understanding the potential each of these stones hold, the attendees are offered an allotted time to view the goods, and must submit a single bid on any of the diamonds they desire. LEIBISH's Chief Diamond Buyer, Shmulik Polnauer, said "when companies like De Beers hold a Tender, only the very best lots are reserved and all the remaining stones are eventually divulged into selected parcels. However, the Argyle Pink Diamond Tender has yet to be left with even one single stone since they originally launched this annual event."
Argyle Tender diamonds are sought after by the most avid diamond collectors and recognized for their incredible investment potential. With the heavy increase in prices paid and an appreciation in value of over 500% over the years, these valuable stones have been called the most concentrated form of wealth on earth. Josephine Johnson, Manager at Argyle Pink Diamonds, said "Tender diamonds are considered one in a million, as for every one million carats of rough diamonds, only one carat of polished is offered for sale at the tender."
Argyle Tender Diamonds 2015
Bids for the 2015 Argyle Tender were closed at the end of the business day, Thursday October 21. It was early the next morning that Shmulik received the call congratulating him on the impressive win. In a strategic partnership between LEIBISH and Kunming Trading Co., 26 remarkable Argyle Pink Tender diamonds were secured. In addition, there were also 4 won from the Once in a Blue Moon Tender. "You need to fully understand the market prices and the value these stones possess. You have only a short time to assess each of the stones and all the pressure of competing against all the top diamond buyers that exist. Dealing with fancy color diamonds day in and day out, I know the trends, what's hot and what people are after. I bid on behalf of some of our best clients, and also because I know how many others would kill to own just one of these magical stones," said Polnauer.
When Polnauer was asked how he managed to win such a large percentage of the Tender diamonds, he said "to put it simply, I have to bid very high prices. The tricky part is understanding the stone's potential. You see, the highest bid wins, so I need to adequately assess the market and not bid too high, in order to ensure my customers the confidence that they are buying the goods at an excellent price that will enable them to reap the benefits down the line."
The Argyle mine produces nearly 90% of the pink diamonds available in the market. However, the mine already publicly announced in 2013 the up and coming closure, as production is rapidly depleting. In fact, just last week it was reported that Argyle Diamonds' owner, Rio Tinto, is temporarily stopping the final processing of all gems. This business decision will cut its expected annual rate of production from 20 million to 18 million carats per year. We might see them pull through this remission, but the first stages of the mines closure is now here. Once the source has vanished, the value will only rise 10 fold as stones of this color just aren't seen anywhere else.
LEIBISH won two tender stones in 2014, seven tender stones in 2013, 17 tender stones in 2012, six tender stones in 2011, six tender stones in 2010, and one in 2009.