Remember the 1.77 carat, radiant-cut, fancy deep purplish-pink diamond that went unsold at Rio Tinto’s 2008 Argyle Pink Diamond tender? It has been recut and revamped to manifest the color red. Scarcelli Diamonds, which specializes in natural color diamonds, had purchased the diamonds in partnership with a few other companies in the first half of 2009, after its failure to attract potential buyers. Gemologist Joshua Shelby of Scarcelli Diamonds said that the company saw potential in the stone despite its cluster. The Argyle pink diamonds were known to be difficult to cut because they were heavily included. They took a chance and churned out a 1.61-carat, radiant-cut, fancy purplish-red stone worth an estimated $2 million. This was done by readjusting certain angles and bringing out the red component by way of fine notching.
All these efforts gave some fine results and acknowledgment too. Apparently, the Gemological Institute of America (GIA) graded the stone. The Argyle Pink Diamonds dubbed the diamond as the “Kimberly Red,” which is a rare title conferred upon worthy stones, which are substantiated by the fact that the GIA graded only one other diamond larger than 1.5 carats as ‘fancy purplish-red’ in the past 10 years. This rare and unique fancy colored diamond could be sold through an auction house, retail outlet, or a collector or an investor. Even a museum could decide to rent out this stone for a specified amount of time.