World’s First Public Tender of Rare Australian Pink Diamonds

World’s First Public Tender of Rare Australian Pink Diamonds

Chinese carved and underglaze red “Dragons and Waves” vase (Lot 12, $150,000-250,000) Freeman's Auction

A fine Argyle Diamond Mine certified pink oval cut diamond of 4PP colour weighing 0.54 carats estimated to fetch AUD$200,000 – 270,000 at the Public Tender., an Australian technology start-up in the diamond sector, founded by Tim Goodman, a former Executive Chairman of Sotheby’s Australia, has been asked to sell a collection of rare pink diamonds by an Australian finance corporation as mortgagee in possession. will offer the first ever Public Tender for Australian pink diamonds strictly from 21 June – 01 July 2021, by Order of a Mortgagee in Possession and the Property of Various Private Collectors and Investors.

The five pink diamonds ranging from 0.40 carat to 1.01 carat, originally sourced from the world-famous Argyle Diamond Mine, are expected to fetch over US$1million. The request to sell the gems inspired Tim to expand the sale to include other pink diamonds originally from the Argyle mine.

With the closure of the Argyle Mine in November 2020 after 40 years of producing 90% of the world’s pink diamonds the Public Tender is expected to attract attention from regional and overseas bidders.

The catalogue will be capped at just 30 pink diamonds. The final accumulated collection will be the subject of a high security travelling road show around the Australian capital cities. The sealed Tender Bids will be opened at 10.00am in Sydney on Friday 02 July in the presence of a Partner at international accountants, Grant Thornton. launched with a global campaign announced on its new website to invite consignments of additional pink diamonds from private and trade sellers. .

The trade asking prices for Australian pinks from the Argyle mine are said to have increased by more than 10% per annum in a blaze of publicity over many years. However there is no secondary market, so selling a pre-owned pink diamond can be problematic for the end private consumer.

“We are creating a secondary market. The primary market is strong and the timing is perfect for sellers.  Subject to the success of this first project we intend to conduct a Public Tender of Australian pink diamonds twice a year. We may extend the scope to include diamonds of other colours originally sourced from the Argyle Mine,” Tim Goodman said.

Pink diamonds have been all the talk in the auction room after Christies recently sold a 2.17ct fancy pink for $3.5million and will offer another exceptional pink stone estimated to fetch $38million on 23 May.