TechnologyMay 01, 2026
Gemist, Saban Onyx Partner on Retailer-Focused Customization OfferingTheir partnership combines Gemist’s customization technology with Saban Onyx’s U.S.-based manufacturing capabilities.
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
SurveysMay 01, 2026
Consumer Confidence Inches Up in April Despite Rising Gas PricesRespondents were concerned about the Middle East conflict and how it will impact their finances.
CollectionsMay 01, 2026
A ‘Hidden Garden’ Emerges in Tiffany & Co.’s 2026 Blue BookOur Piece of the Week, the “Butterfly” necklace, showcases a 7.02-carat oval diamond set between diamond, platinum, and 18-karat gold wings.
Brought to you by
Discover Timeless Treasures: A Showcase of Antique Jewelry & Timepieces in Las VegasGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
ColumnistsApr 30, 2026
Peter Smith: A Sleazy Salesman and the Case for Regret Avoidance Smith uses a comment he overheard in the grocery store to remind retailers that their job is to inspire buying behavior, not just sell.
Weekly QuizApr 30, 2026
This Week’s QuizTest your jewelry news knowledge by answering these questions.
MajorsApr 30, 2026
Claire’s New Summer Campaign Is a Sensory Wonderland for Gen Alpha“A Girl SMR at Claire’s” celebrates girlhood through the five senses with stacked jewelry, slime toys, scented accessories, and ASMR.
AuctionsApr 30, 2026
Vintage Cartier Watch Crashes Through Records, Selling for $2MBelieved to be one of three made in 1987, the Cartier London Crash was hot at the “Shapes of Cartier” sale at Sotheby’s Hong Kong.
Brought to you by
Las Vegas Antique Jewelry & Watch Show: Showcasing the Most Collectible Merchandise from Across the GlobeGain access to the most exclusive and coveted antique pieces from trusted dealers during Las Vegas Jewelry Week.
CrimeApr 30, 2026
Masked Group Uses Hammers, Pepper Spray in Texas Jewelry Store RobberyOfficials are looking for a group that robbed Marc Robinson Jewelers at an outlet mall in Round Rock, Texas, in broad daylight on April 21.
Supplier BulletinApr 30, 2026
OROAREZZO 2026: The B2B Event for Italian Excellence in Goldsmith, Jewelry and Silver ManufacturingSponsored by OROAREZZO International Jewelry Exhibition
TechnologyApr 29, 2026
The Thought Process Behind the Mother's Day Email Opt-OutSome retailers are taking a nuanced approach to marketing what can be a difficult holiday for many.
IndependentsApr 29, 2026
Dick Abbott to Retire From The EdgeThe Edge has announced its new CEO, as well as a new partnership with an investment firm focused on founder-led software businesses.
AuctionsApr 29, 2026
This'll Be the Day You Own John Wayne's RingA signet ring belonging to the Western film star of Hollywood’s Golden Age will be up for auction at Elmwood’s next month.
Policies & IssuesApr 28, 2026
Tariff Refunds: How to File, What to Expect Importers can submit claims now to receive money back for the IEEPA tariffs they’ve paid, with refunds expected to take up to 90 days.
IndependentsApr 28, 2026
This North Carolina Jeweler Is Passing the TorchThe owners of Gregory Jewelers in Morganton, North Carolina, are heading into retirement.
SourcingApr 28, 2026
NDC Hires Tapestry Exec to Head Global Marketing Susie Dewey joins the Natural Diamond Council as its new chief marketing officer.
AuctionsApr 27, 2026
12 Years Later, the ‘Ocean Dream’ Diamond Resurfaces at Christie’sThe largest known fancy vivid blue-green diamond could fetch more than $12 million at its second auction appearance.
ColumnistsApr 27, 2026
Stop Treating Mother’s Day Like an AfterthoughtEmmanuel Raheb says jewelers need to start marketing early and make it easy for customers to pick a gift for mom.
IndependentsApr 27, 2026
Longnecker Jewelry Celebrates 30 YearsIn honor of the milestone, the Nebraska jeweler has debuted Leslie & Co., its new in-house jewelry brand.
MajorsApr 27, 2026
JBT Re-Elects Jeff Corey as Board ChairThe trade organization, which held its annual elections earlier this year, also added five new board members.
SurveysApr 24, 2026
Mother’s Day 2026 Jewelry Spending to Top $7B, NRF SaysNRF’s annual survey found that 45 percent of consumers plan to purchase jewelry for a loved one this Mother’s Day.
TechnologyApr 24, 2026
TwentyFour’s Digital-Age Locket Is a Virtual VaultThe “Vault” charm, our Piece of the Week, expands on the memories that can be stored in a locket by connecting to your phone.
Events & AwardsApr 24, 2026
Hamptons Jewelry Show to Return in JulyThe open-to-the-public luxury jewelry and timepiece show, in its second year, is slated for July 23-26.
IndependentsApr 23, 2026
Meet the Real Moms of Day’s JewelersThe jeweler’s Mother’s Day campaign highlights the women who work there—mothers, grandmothers, women who want to be mothers, and dog moms.
Supplier BulletinApr 23, 2026
JM® Shipping Solution: Smarter Shipping for High-Value GoodsSponsored by Jewelers Mutual
Lab-GrownApr 23, 2026
Charles & Colvard May Sell Assets for $1.5MThe proposed agreement follows the moissanite maker’s Chapter 11 bankruptcy protection filing last month.
AuctionsApr 23, 2026
John Jacob Astor IV’s Titanic Pocket Watch Fetches $1MThe Patek Philippe for Tiffany & Co. timepiece Astor brought aboard the ill-fated ship sold for double its estimate at a Freeman’s auction.
