If you are Australian, you will no doubt have heard of the world famous Argyle Diamond Mine, which is located in a remote part of Western Australia in the East Kimberley region. The mine was founded in 1969 by a consortium of diamond miners after significant diamond finds occurred with local prospectors. They began to search for a diamond pipe which resulted in a discovery in 1979 and it took a further 3 years before mining began and the mine was commissioned in December 1985.
Huge Diamond Production
The Argyle Mine was the 4th largest producing diamond mine in the world, with an average annual production of 8 million carats, or 1,600kg. Since mining operations began, Argyle has mined over 150,000kg of raw diamonds and you may not be aware that Argyle Mine closed down in November 2020. The mine closing down had a serious effect on the local economy, as you would expect, but with the diamond pipe fading away, the mining consortium had no choice but to close down the operation.
Argyle Pink Diamonds
The majority of the stones found were champagne coloured, pink diamonds with vivid and fancy properties. Indeed, the Argyle Mine has produced as much as 95% of all the world’s best pink diamonds. As the mine has now closed down, the value of top-quality fancy pink diamonds will no doubt appreciate in time. With custom jewellers who create handmade diamond engagement ring in Sydney, you can acquire the Argyle pink diamonds in loose form, which the jeweller will cut and create into a perfect ring designed just for you.
Supply & Demand
We all know how markets work and when the best pink diamond mine in the world ceases production, supply suddenly dwindles. Rare vivid and fancy pink Argyle diamonds are still in great demand and with a supply cut off, prices will invariably rise. Of course, there are many fine Argyle diamonds on the market, yet with the loss of an 8 million carat per year supply, this will have an impact on fine pink diamond prices.
If, for example, you purchased a 1-carat Argyle fancy pink diamond and had it set into an engagement ring, this would certainly be a very valuable asset that would appreciate in value. The diamond would have a GIA certificate to show its properties and any time you would like to have the stone valued, this can easily be done.
During these troubled times, you might be reluctant to meet with jewellers, but thanks to VoIP technology, you can enjoy video calls with the custom jeweller, which enables the design to be created and once you approve the design, the work can begin. The entire process can be carried out online; you don’t have to ever meet the jewellery maker, which is ideal in the pandemic.
Loose Argyle Pink Diamonds At Trade Prices
If you approach the right jeweller, they can acquire the Argyle pink diamonds at trade prices, which is quite a saving and as the years roll by, the diamond’s value will steadily grow.