US$71.2M
CTF Pink Star
59.60ct pink diamond, Sotheby's Hong Kong, 2017 — among the most valuable gemstones ever sold at auction. Not an Argyle stone.
Argyle Pink Diamonds · Australia
Finite by Nature.
Kimberley Reserve provides private wholesale access to certified, investment-grade pink diamonds from a source that has permanently closed — a finite reserve, held in trust for those who understand what cannot be remade.
By private introduction · Argyle-graded · Held in strict confidence
The Scarcity Thesis
A closed source.
A finite material.
For nearly four decades, the Rio Tinto Argyle mine in the East Kimberley of Western Australia produced over 90% of the world's pink diamonds. In November 2020, after exhausting its economically viable ore, the mine closed permanently.
No comparable source has since come into production. Pink diamonds recovered elsewhere are sporadic and, in the saturation and hue that defined Argyle material, effectively unrepeatable. The consequence is unusual among physical assets: the global supply of certified Argyle pink diamonds is not merely limited — it is fixed, and it diminishes as stones are absorbed into private collections, institutions and museums.
This is the whole of the thesis. Not a forecast, not a trend, not a market cycle — a closed-source, finite, museum-grade material whose remaining population can only ever fall.
Pink and red diamonds made up less than 0.1% of Argyle's total production over the mine's lifetime. Within that already vanishing supply, the standard was narrower still: for every 1 million carats of rough pink diamond the mine produced, only 1 carat of polished, tender-quality stone was ever graded, certified and offered for sale — the standard that defines investment grade. What we present today is drawn from that finite population.
1983
Argyle production begins
2020
Mine permanently closed
0
Comparable sources since
Sources: GIA, Gems & Gemology (2014); Argyle Pink Diamonds Tender historical archive.
Market Proof Points
The record of the room
Pink diamonds count among the most valuable gemstones ever sold at auction. The figures below are historical results for specific, named stones.
US$46M
The Graff Pink
23.88ct pink diamond, Sotheby's Geneva, 2010. A benchmark for the coloured-diamond market. Not an Argyle stone.
38 years
The Final Tender
Argyle's final tender, 'The Journey Beyond' (2021), delivered the most significant set of record-breaking results in the tender's 38-year history.
90%+
Global Supply, Closed
Argyle diamonds historically accounted for over 90% of global pink diamond production — a source now permanently closed.
Past prices are historical facts about specific stones and are not a guarantee of future value for any diamond.
The Alternative Asset Case
Why pink diamonds,
and why now
i
Diversification
A physical, tangible asset held outside the financial system and largely uncorrelated with equities and bonds. Its value is not set by a quarterly earnings cycle, a central bank, or a market open.
ii
Scarcity by design
Fixed supply from a closed source. Unlike gold, oil, or white diamonds — all still in active production — no new Argyle pink diamond will ever be mined. The known population can only contract as stones enter permanent collections.
iii
Portability & discretion
A compact store of value that can be privately held. Loose, unmounted diamonds sit outside the strict SMSF "collectable" rules that apply to jewellery and artwork. This is a statement of fact, not advice — consult your financial adviser and accountant.
Certification & Trust
Graded at the source.
Fully documented.
Every stone we present was graded and certified under the Argyle mine's own proprietary system — not a third-party laboratory. Argyle developed a specialised 1–9 colour intensity scale, together with its own hue and saturation criteria, specifically for grading its pink, purple and red diamonds. Because the mine closed permanently in 2020, that system can never be replicated or reopened, and every certificate in circulation today is an original, issued at the time of the stone's initial sale.
Storage and insurance are arranged directly through Kimberley Reserve — we handle the introduction to Guardian Vaults and the placement of cover, so you are not left to organise secure storage or insurance yourself.
Should you wish to sell in future, Kimberley Reserve can assist with brokering the sale of your diamond, if desired — introducing qualified buyers or auction channels on your behalf, entirely at your discretion. As with any tangible asset, we cannot guarantee a sale price or timeframe.
- Proprietary system
- The Argyle mine graded every stone on its own 1–9 colour intensity scale, alongside proprietary hue and saturation criteria — a system unique to Argyle material and specific to pink, purple and red diamonds.
- Chain of custody
- Original certificates and laser inscriptions on the diamond's girdle were issued directly by the mine at the time of initial sale. This is the documented starting point of provenance for every stone we present.
- No new certificates
- The mine closed in 2020. A loose stone cannot be submitted to Argyle for a new original certificate today — so authenticity rests on the original mine documentation and an unbroken chain of custody, which we verify and document in full for every stone.
- Valuation
- Every stone is accompanied by a fully independent expert valuation certificate, separate from its Argyle grading documentation — and you are welcome to commission your own additional valuation at any time.
- Storage & insurance
- Secure storage arranged through Guardian Vaults, with insurance options — including cover placed through the Lloyd's of London market — tailored to each investor's holdings. Documented private delivery is also available.
- Discreet privacy
- Every engagement is handled in strict confidence. We do not disclose client identities, holdings or transaction details to any third party without instruction, and every consultation proceeds at your own pace.
How It Works
Four considered steps
- 01
Private Consultation
A confidential conversation about your objectives, timeframe and allocation. No obligation, no pressure.
- 02
Curated Stone Selection
Argyle-graded options matched to your budget and objectives, presented with full original certification and provenance documentation.
- 03
Independent Verification
Bring your own adviser, accountant or registered valuer. We encourage independent scrutiny of every stone and every figure.
- 04
Private Arrangement & Custody
Settlement, insurance and vaulted custody arrangements, or private delivery — documented end to end.
Who This Is For
SMSF trustees
Trustees seeking a considered alternative-asset allocation alongside conventional holdings, with clear certification and documentation to support the fund's records. Any acquisition should be confirmed against your fund's documented investment strategy.
High-net-worth individuals
Private clients seeking a tangible, discreet store of value — compact, privately held, and independent of the daily rhythm of listed markets.
The above is general information only and does not take account of your objectives, financial situation or needs. It is not personal advice.
Investment Performance
Indexed comparisons
Methodology
A note on the figures below: the 'Argyle Diamond Index' referenced in these tables is an illustrative composite built from published reference points — including Rio Tinto's December 2020 mine-closure announcement and Argyle Pink Diamonds' Argyle Art Series tender results to January 2026 — rather than a continuously tracked market index; intermediate years are estimated by interpolation between those reference points. The comparison series (rare whisky, art, listed equities, and other diamond indices) reflect their own publishers' full annual data. The underlying source materials also present slightly different starting reference values for the Argyle Diamond Index across different comparison sets — figures below are reproduced as shown in each respective source. Past performance of any index, or of any individual stone, is not a reliable indicator of future results, and prospective purchasers should treat these comparisons as illustrative context only, not as a return projection.
Argyle Diamond Index vs. Rare Whisky (RW Icon Top 100 Index)
- Argyle Diamond Index
- RW Icon Top 100 Index
| Year | Argyle Diamond Index | RW Icon Top 100 Index |
|---|---|---|
| 2012 | 295% | 100% |
| 2013 | 333% | 135% |
| 2014 | 371% | 160% |
| 2015 | 409% | 185% |
| 2016 | 448% | 250% |
| 2017 | 486% | 310% |
| 2018 | 524% | 355% |
| 2019 | 562% | 340% |
| 2020 | 600% | 360% |
| 2021 | 651% | 430% |
| 2022 | 702% | 505% |
| 2023 | 753% | 440% |
| 2024 | 803% | 350% |
| 2025 | 854% | 340% |
| 2026 | 905% | 340% |
The rare whisky investment market has undergone a significant correction since reaching its 2022 peak, with values declining as speculative demand moderated and investors became increasingly selective. Whisky prices fell 18% by 2024, followed by a further 10.9% decline in 2025, highlighting the volatility that can affect established alternative assets. In contrast, premium Argyle-certified pink diamonds have delivered exceptional long-term appreciation, underscoring their historical performance, finite supply and enduring rarity.
Source: RW101 Rare Whiskey Icon Top 100 Index; Rio Tinto (18 December) 2020 press release; Argyle Diamonds Australia Argyle Art Series tender results to January 2026.
Argyle Diamond Index vs. Fine Art (AMR Art Top 100 Index)
- Argyle Diamond Index
- AMR Art Top 100 Index
| Year | Argyle Diamond Index | AMR Art Top 100 Index |
|---|---|---|
| 2000 | 100% | 100% |
| 2001 | 125% | 90% |
| 2002 | 150% | 85% |
| 2003 | 175% | 80% |
| 2004 | 200% | 110% |
| 2005 | 225% | 105% |
| 2006 | 250% | 155% |
| 2007 | 275% | 250% |
| 2008 | 300% | 285% |
| 2009 | 325% | 200% |
| 2010 | 350% | 220% |
| 2011 | 375% | 310% |
| 2012 | 400% | 295% |
| 2013 | 425% | 265% |
| 2014 | 450% | 330% |
| 2015 | 475% | 320% |
| 2016 | 500% | 280% |
| 2017 | 525% | 275% |
| 2018 | 550% | 335% |
| 2019 | 575% | 345% |
| 2020 | 600% | 305% |
| 2021 | 651% | 295% |
| 2022 | 702% | 355% |
| 2023 | 753% | 365% |
| 2024 | 803% | 345% |
| 2025 | 854% | 345% |
| 2026 | 905% | 345% |
Art investments are typically not correlated with traditional financial markets like stocks and bonds, meaning art's performance may not align with broader economic trends or provide consistent returns. Historically the price performance of certified pink diamonds from the Argyle mine had a strong correlation with fine art. However, since 2008, Argyle-certified diamond prices have risen substantially, well surpassing the floundering performance of the Top 100 Art Market Index.
Source: AMR Top 100 Art Index; Rio Tinto (18 December) 2020 press release; Argyle Diamonds Australia Argyle Art Series tender results to January 2026.
Argyle Diamond Index vs. Listed Equities
- Argyle Diamond Index
- Hang Seng Equity
- Dow Jones Equity
- S&P Equity
| Year | Argyle Diamond Index | Hang Seng Equity | Dow Jones Equity | S&P Equity |
|---|---|---|---|---|
| 2000 | 150% | 100% | 100% | 100% |
| 2001 | 172% | 65% | 90% | 85% |
| 2002 | 195% | 55% | 55% | 55% |
| 2003 | 218% | 65% | 70% | 65% |
| 2004 | 240% | 95% | 95% | 90% |
| 2005 | 263% | 100% | 100% | 95% |
| 2006 | 285% | 120% | 120% | 105% |
| 2007 | 308% | 205% | 130% | 105% |
| 2008 | 330% | 85% | 85% | 60% |
| 2009 | 353% | 140% | 95% | 65% |
| 2010 | 375% | 150% | 105% | 95% |
| 2011 | 398% | 110% | 105% | 95% |
| 2012 | 420% | 115% | 110% | 105% |
| 2013 | 443% | 160% | 120% | 120% |
| 2014 | 465% | 165% | 155% | 155% |
| 2015 | 488% | 150% | 150% | 150% |
| 2016 | 510% | 160% | 160% | 160% |
| 2017 | 533% | 195% | 240% | 210% |
| 2018 | 555% | 165% | 250% | 215% |
| 2019 | 578% | 175% | 265% | 240% |
| 2020 | 600% | 155% | 235% | 240% |
| 2021 | 651% | 155% | 305% | 300% |
| 2022 | 702% | 135% | 230% | 180% |
| 2023 | 753% | 120% | 285% | 250% |
| 2024 | 803% | 110% | 335% | 280% |
| 2025 | 854% | 110% | 335% | 280% |
| 2026 | 905% | 110% | 335% | 275% |
Certified pink diamonds from the Argyle mine have demonstrated remarkable price growth since 2000, consistently outperforming major stock shares during the same period. By 2025, Argyle quality-adjusted prices reached their highest point ever, surpassing the previous peak observed in 2020. This trend highlights their enduring appeal, reflecting strong demand and appreciation in the alternative investment market.
Source: FCRF – FCDI Q2 2026 results; Rio Tinto (18 December) 2020 press release; Argyle Diamonds Australia Argyle Art Series tender results to January 2026.
Argyle Diamond Index vs. White & Coloured Diamonds
- Argyle Diamond Index
- White Diamond Index
- FCRF Coloured Diamond Index
| Year | Argyle Diamond Index | White Diamond Index | FCRF Coloured Diamond Index |
|---|---|---|---|
| 2005 | 150% | 110% | 95% |
| 2006 | 180% | 110% | 105% |
| 2007 | 210% | 120% | 125% |
| 2008 | 240% | 115% | 140% |
| 2009 | 270% | 115% | 125% |
| 2010 | 300% | 100% | 180% |
| 2011 | 330% | 110% | 225% |
| 2012 | 360% | 135% | 250% |
| 2013 | 390% | 115% | 280% |
| 2014 | 420% | 110% | 295% |
| 2015 | 450% | 115% | 290% |
| 2016 | 480% | 115% | 295% |
| 2017 | 510% | 115% | 290% |
| 2018 | 540% | 110% | 300% |
| 2019 | 570% | 105% | 300% |
| 2020 | 600% | 105% | 295% |
| 2021 | 651% | 100% | 290% |
| 2022 | 702% | 130% | 300% |
| 2023 | 753% | 110% | 305% |
| 2024 | 803% | 95% | 305% |
| 2025 | 854% | 85% | 305% |
| 2026 | 905% | 75% | 310% |
Argyle-certified pink diamonds have consistently demonstrated exceptional long-term price appreciation. Historic data indicates that premium Argyle-certified pink diamonds increased in value by 800% between 2000 and 2025. This remarkable performance reflects the enduring rarity, scarcity and investment appeal of these rare diamonds.
Source: FCRF – FCDI Q2 2026 results; Rio Tinto (18 December) 2020 press release; Argyle Diamonds Australia Argyle Art Series tender results to January 2026.
Frequently Asked Questions
Matters of record
The above is general information only and does not constitute financial, legal or tax advice.
Contact
Request a private
consultation
Consultations are held by appointment and in confidence. There is no obligation at any stage, and you are welcome to bring your financial adviser, accountant or valuer.