After all the excitement in the run-up to the sale - "Australia's first-ever red diamond auction could realise $921,556" as we reported last week - this 0.82-carat red diamond failed to find a buyer at Sotheby's
Although the exceptional stone fell short of its estimates at the April 12 auction in Oz, news reports suggest that the diamond - from Rio Tinto's Argyle mine in Western Australia - may still find a buyer.
According to the Australian Broadcasting Company (ABC), negotiations for the sale of the diamond have continued behind the scenes between the stone's sellers and interested collectors.
 Down but certainly not out: Australia's coveted Argyle stone |
Apparently, jewel buyers have great faith in the investment power of red diamonds at the moment. And it looks likely that the Sotheby's Argyle stone may yet realise a price close to its optimistic pre-sale estimates.
The fancy purplish-red Argyle stone is flanked by a pair of fancy blue diamonds in a round brilliant-cut diamond surround, set into a platinum ring.
All values are shown in US dollars.
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