Approximately a year ago, a representative from the Argyle Diamond Mine, a site in Western Australia that was the leading source of pink diamonds until its closure in 2020, approached the chief gemologist of Tiffany & Company with a unique proposition. The offer was to acquire a collection of diamonds, among the last extracted from the mine.
The decision, according to Tiffany executives, required little deliberation. Anthony Ledru, the brand's president and chief executive, expressed in his well-lit office in New York's Flatiron district, "We had to do it. It's in perfect alignment with what we stand for."
The purchase, finalized a few months ago, encompassed 35 diamonds displaying various shades, including pink, almost purple, and even a rare red gem—a particularly unconventional colour for a diamond. Tiffany's chief gemologist, Victoria Reynolds, remarked that these gems, cut in diverse styles, "checked off all those boxes: rarity, scarcity, and beauty."
However, the diamonds are relatively small, ranging from 0.35 to 1.52 carats, noticeably smaller than the larger gemstones commonly used in engagement rings and solitaire necklaces.
The exact amount Tiffany paid for what is now known as the Tiffany Collection remains undisclosed by Mr. Ledru. Still, he indicated it was "probably not enough compared to what it's going to become in the next five, 10 years." (He did mention that it was Tiffany's most substantial single purchase of 2022.)
The specific use of diamonds in jewelry has not been determined yet. However, Mr. Ledru suggested that they would likely be incorporated into one-of-a-kind designs. The diamonds are being showcased to selected clients in New York City and, next month, in Doha, the capital of Qatar.