Rare red diamonds
Rio Tinto is now offering four rare red diamonds, worth millions of dollars, among 55 stones from its Australian Argyle mine in an auction, pitting jewellers against ultra-wealthy investors and institutions.
Fancy gem-quality natural colour diamonds have increased in value in recent years due to their small numbers, growing demand and vigorous marketing.
The star lot in the auction is the “Argyle Cardinal”, a 1.21 carat radiant-cut, fancy red diamond, which one trade source said could command over $3 million.
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