Paragon International Wealth Management, a Toronto-based fancy colored diamond acquisition and management firm, projects unprecedented demand for a fancy red colored diamond at this year's Rio Tinto Argyle Diamond Tender.
Called the Argyle Everglow, this radiant-cut, 2.11 carat, fancy-red, VS2 clarity polished diamond is the biggest red diamond Rio Tinto has ever offered for sale. In thirty-three years, Rio Tinto has sold a little less than 20 carats of fancy-red certified diamonds during their annual tenders.
This year's tender features 58 diamonds with a total weight of 49.39 carats, including one blue diamond, two violets, four purplish-reds and four fancy-red diamonds.
Rio Tinto's collection also includes five "hero" diamonds with rare beauty. These include the Everglow, as well as a radiant, 1.14-carat, fancy-red diamond; a cushion-shaped, 2.42-carat, fancy purple-pink diamond; an oval, 1.50-carat, fancy deep-pink diamond; and a radiant, 0.91-carat, fancy deep gray-violet stone.
Rio Tinto invites only an elite few to bid on the stones, making them all the more precious.
Bids will close in October and the diamonds are already fetching record breaking prices, with seasoned diamond trader and self-styled "treasure hunter" David Shara of Optimum Diamonds calling the Argyle Everglow "the ultimate prize" in an article published in the The New York Times.
In part because the Argyle Mine in Western Australia faces an uncertain future, Paragon International Wealth Management speculates that demand in the colored diamond market will continue to strengthen. More particularly, Paragon International Wealth Management anticipates high interest in the Argyle Everglow.
Michael King, the Director of Trading at Paragon International Wealth Management sees the Argyle Everglow as yet another standout diamond in a year that has seen record-breaking sales from the Pink Star diamond and others.
Paragon International Toronto's commitment to providing its clients with guidance on building a successful investment portfolio of hard assets is second to none. In recent years, the profit margins for collecting fancy colored diamonds has been significantly higher than other hard investment vehicles. Our expertise in the market has allowed us to help our clients ensure the highest possible annual returns on their investments.
SOURCE Paragon International Wealth Management Inc.