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We have seen yellow, blue and pink, but now there is a exceptional rare red diamond going to auction

Posted by: Editor
Date: 7/30/2017

Over the last few years, we have seen some exceptionally beautiful and rare colored diamonds. Natural diamonds come only once in a million in a color that is a true beauty. That rarity and beauty make these diamonds fetch very high prices in auctions by collectors.

Mining company Rio Tinto has been showcasing stones from its Argyle mine in Western Australia for the past 33 years -- and during that time, less than 20 carats of Fancy Red certified diamonds have been sold.

On Wednesday in New York, Rio Tinto unveiled its largest Fancy Red diamond yet to a select group of collectors, alongside other gemstones in its annual tender of pink diamonds. Known as the Argyle Everglow, the polished radiant cut diamond weighs 2.11 carats.

That may not sound that big, but the rarity is what is the key factor. The stone is "half the size of a one cent coin, but I expect it to sell for over $10 million," said Tobias Kormind, Managing Director of 77Diamonds.com, Europe's largest online diamond jeweler.

"To hold a red diamond in your hand and look at it and say it's a truly a red stone without any modifying colors, very few people on this planet will ever be able to do that," Thompson added, noting such red diamond will appeal to Chinese buyers "as it is the most auspicious of colors in China."

The collection will be showcased in Hong Kong and Perth with bids closing on October 11.

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