EditorsSep 15, 2026
Q&A: Signet Jewelers’ Joan Hilson on Diamond Demand, the HolidaysHilson, Signet’s chief operating and financial officer, discussed Q2, resurgent natural diamond demand, and why Blue Nile is a standout.
SourcingNov 09, 2016
The Company that Bought the Violet Diamond
L.J. West Diamonds was the winning bidder for the 2.83-carat “Argyle Violet,” the biggest violet diamond ever to emerge from Rio Tinto’s Argyle mine.
So is violet the rarest hue of diamond there is? “There’s no question about it,” said Larry West of L.J. West Diamonds, the company that placed the winning bid on this 2.83-carat violet diamond from the 2016 Argyle tender.
New York--It’s the biggest violet diamond ever found at Australia’s Argyle Mine, and it now belongs to a New York company that’s been in the colored diamond business for nearly 40 years.
L.J. West Diamonds Inc. placed the winning bid on the 2.83-carat “Argyle Violet,” the centerpiece of this year’s Argyle Pink Diamonds Tender, Rio Tinto’s annual sale of the top diamonds to come out of its Argyle mine.
Company President Larry West said the Violet, a diamond that generated a lot of interest and excitement, was a stone he “really wanted to possess.”
“There’s such a huge disparity between this size and the next biggest violet stone that’s ever come out of the (Argyle) mine,” he said, referencing the 1.41-carat Ocean Seer from the 2008 tender. “It’s such a rarity that I felt it was worth bidding on.”
West is not saying how much he paid for the stone, which is being set in a ring and surrounded by smaller Argyle pinks, though he did reveal that it will be available to purchase next year.
But he won’t be taking the violet diamond to Christie’s or Sotheby’s to sell it.
Rather, L.J. West Diamonds will offer the Argyle Violet through its network of retail partners after it is featured in the “Diamonds: Rare Brilliance” exhibition slated to run from December to March 2017 at the Natural History Museum of Los Angeles County.
“I am glad to have it shown,” West said of the violet’s inclusion in the exhibition. “It’s so rare. Nobody’s ever seen stones like this, and I think it’s important for them to be out there in the public domain. It makes it more real for people; it’s not just a story.”
This year, a total of 63 pink, red and violet diamonds--collectively dubbed “The Chroma Collection”-- comprised the Argyle tender, which was 100 percent sold by lot.
Collectively, the stones represented the highest quality, size and color composition in the tender’s 32-year history and, consequently, achieved the highest average price per carat ever.
Editors' Picks
Sponsored by
Beyond L.J. West Diamonds, Rio Tinto did not reveal the names of any companies that purchased a diamond from the tender, nor did it share prices.
But Leibish & Co. came forward to announce that it placed the winning bid for a 0.71-carat emerald-cut diamond graded by the Gemological Institute of America as an internally flawless fancy intense pink.
But Leibish & Co. came forward to announce that it placed the winning bid for a 0.71-carat emerald-cut diamond graded by the Gemological Institute of America as an internally flawless fancy intense pink.
This 0.71-carat diamond won by Leibish & Co. in the Argyle tender is GIA-graded as internally flawless fancy intense pink and classified by Rio Tinto as 5PR internally flawless.
The company did not reveal the price paid but noted that the 0.71-carat stone was the first internally flawless diamond included in the tender in more than 20 years, a fact that Rio Tinto confirmed.
Rio Tinto also said that the 0.71-carat IF stone was one of only three internally flawless diamonds ever included in the tender.
Leibish said it has been participating in the Argyle tenders for the past 10 years and won 26 diamonds at the 2015 tender. Its Argyle tender collection can be viewed online at Leibish.com.
More on Sourcing
The Latest
ColumnistsSep 14, 2026
Sherry Smith: Stop Waiting for December to Save Your ChristmasThe stores that have a great December are the ones that made good decisions in August, September, and October, Sherry Smith writes.
AuctionsSep 14, 2026
22 Carats of ‘Sunshine’ Are Up for AuctionThe 22.09-carat fancy yellow “Pragnell Kimberley Sunshine Diamond” is part of the fall jewelry sale at Heritage Auctions.
Brought to you by
Your Piece Could Be the One Editors Talk AboutSubmit your pieces for a chance to win in this year's competition.
IndependentsSep 14, 2026
Greenwich St. Jewelers to Unveil Photography Exhibition“Adornos: Jewelry, Memory & What We Pass Down” honors the jewelry’s importance to New York City’s Latine communities.
Weekly QuizSep 10, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
CollectionsSep 11, 2026
A Sapphire ‘Stardust’ Ring From Greenwich St. Jewelers The Latine-owned New York jeweler is marking two milestones this year: its 50th anniversary and the 25th anniversary of the 9/11 attacks.
MajorsSep 11, 2026
The Wishing Place by JTV OpensThe jewelry retail broadcast network has sponsored a new space for Make-A-Wish East Tennessee on its campus in Knoxville.
Brought to you by
Why More Jewelry Retailers Are Hosting Turnkey Estate Buying EventsRetailers are seeking new ways to attract customers, increase traffic, and create revenue – Estate buying events are a popular solution.
Events & AwardsSep 11, 2026
The Edge Awards Scholarships to 2 Young Jewelry ProfessionalsThe recipients were recognized at the 24 Karat Club of the Southeastern United States’ annual banquet.
MajorsSep 10, 2026
Lagos Founder Steven Lagos Steps Down as CEO Keith Rolfe, CFO and COO of Lagos, is now at the jewelry brand’s helm while Steven takes on the role of executive chairman.
CrimeSep 10, 2026
FBI Offers $50K Reward for ‘Most Wanted’ Fugitive in $1M Jewelry HeistAlberto Perez-Elias is one of four men charged in the armed robbery of a Cape Coral, Florida, jewelry store and remains at large.
AuctionsSep 10, 2026
Massive Matched Pair of Paraíba Tourmalines Head to Sotheby’sThe “Kat Florence Luminas” will be offered together as one lot and could fetch up to $637,000.
SourcingSep 10, 2026
AGTA Announces 4 Newly Elected DirectorsFour directors were elected to the AGTA board and will serve three-year terms beginning in February.
AuctionsSep 10, 2026
Former Sotheby’s, Christie’s Exec Appointed CEO of Julien’s Auctions Ken Citron joins the celebrity memorabilia-focused auction house ahead of its first week-long series of events in Abu Dhabi.
FinancialsSep 09, 2026
Signet Jewelers to ‘Double Down’ on Blue Nile Amid Strong SalesThe jewelry retailer said it sees opportunity at higher price points, particularly in natural diamonds for bridal and fashion.
IndependentsSep 09, 2026
Sarah Leonard Fine Jewelers Closes After Nearly 80 YearsThe Los Angeles-based, family-owned jeweler was founded by Lenny and Sunny Friedman in 1946.
SourcingSep 09, 2026
Fura Gems Notes ‘Remarkable’ Interest in Larger Rubies at Latest SaleThe auction, held in Bangkok, was 96 percent sold by lot, with nearly 411,000 carats of Mozambiquan rubies sold.
MajorsSep 09, 2026
Stuller’s Latest Catalog Includes Its New Demi-Fine CollectionFine Jewelry 2027-2028 has more than 900 new styles, including silver, gold-filled, gold-plated sterling silver, and vermeil jewelry.
Policies & IssuesSep 09, 2026
8 Key Changes the FTC Made to the Jewelry Guides: A Refresher Learn more about the new terms for lab-grown diamonds and composite gemstones, and the major changes in store for precious metals jewelry.
IndependentsSep 08, 2026
Ricky Bromberg, Longtime President of Bromberg & Co., Dies at 67 Bromberg is remembered as a Southern gentleman who always wore a suit and tie and treated others with kindness.
TrendsSep 08, 2026
Amanda’s Style File: A Hot Take on September’s Birthstone With high durability and a wide range of colors to choose from, sapphires may be the ultimate birthstone, Gizzi claims.
ColumnistsSep 08, 2026
Peter Smith: Humor Is No Laughing MatterLaughter is often considered a distraction in the workplace, but it has benefits for both staff and management, Peter Smith writes.
MajorsSep 08, 2026
Former Tiffany & Co. Exec Joins Exemplar Luxury GroupGretchen Koback Pursel is the new chief people officer at the company formerly known as Saks Global.
IndependentsSep 04, 2026
Orloff Jewelers Will Soon Unveil a Bigger, Better LocationThe California jeweler is renovating its store in Fresno, with plans to show off the new space in December.
CollectionsSep 04, 2026
Chelsea Gabrielle Transforms Pilates Reformer Springs Into Ring A lifelong practitioner of Pilates, Gabrielle looked to the springs’ tension and suspension when creating this ring, our Piece of the Week.
Events & AwardsSep 04, 2026
JCK Industry Fund Accepting 2027 ApplicationsThe deadline to apply is Nov. 13.
AuctionsSep 04, 2026
Christie's Names New Global Head of WatchesThe auction house has promoted Remi Guillemin, formerly its head of watches for the Americas and EMEA, to the role.
