Burgundy Diamond Mines has purchased one of the last ever “hero” stones sold at the 2021 Argyle Pink Diamonds Tender which will become one of the centrepieces of the company’s luxury brand which will be launched in the coming months.
According to Burgundy, the company has made a significant investment in purchasing the stone, named Argyle Stella, which represents a singular and irreplaceable piece of diamond history.
“As the last ever stone of this size and quality to be produced at Argyle, the Argyle Stella is unmatched as an iconic diamond of great beauty, value and desirability, and the rarity of this diamond as a collector piece is unquestionable,” Burgundy stated.
An extremely low number of pink diamonds were produced by the former Argyle diamond mine and even fewer were classed as ‘hero’ stones.
Burgundy managing director and chief executive officer Peter Ravenscroft said the acquisition of the stone represents an exciting step towards creating a visionary ultra-luxury brand that will transform the diamond niche sector.
“This is a highly strategic purchase of one of the rarest diamonds in history, which we liken to buying ‘one of the last Bugattis’,” Ravenscroft said.
“We have plans to leverage the beauty and rarity of this diamond and use it as a foundation stone in building a brand at the pinnacle of ultra luxury, housed in our subsidiary company that we are establishing in Paris.
“We are looking forward to being able to talk more about this brand in the very near future and expanding on the value that Argyle Stella will bring to Burgundy shareholders in the longer term.”