With the looming closure of Western Australia’s Argyle mine, the world’s largest coloured diamond mine, multiple pink diamonds are expected to each fetch 6 figures at auction this weekend.

The pink diamond is one of the rarest diamonds in the world gaining enormous interest worldwide where coloured diamonds are becoming increasingly popular for investment reasons.

“We expect that this Argyle pink diamond necklet and loose Argyle pink diamond that is just under 1 CT will each sell for 6 figures due to the closure of the Argyle mine, and the interest we’ve had in the necklet so far from both Australian and International investors,” commented Amanda Benson the Head of Fine Art and Antiquities for Lloyds Auctions.

Pink diamonds originating from Western Australia are considered the most desired and admired diamonds in the world representing less than 0.1% of all diamonds. The Argyle mine’s annual production of pink diamonds would actually fit in the palm of your hand.

The closure of Rio Tinto’s Argyle Mine in Western Australia has hit news headlines worldwide and prompted speculation about the value of investing in coloured diamonds.

In a 2018 auction a Pink Legacy diamond sold for nearly $70 million setting a world record price.

“We expect there to be some fierce bidding come auction day in a couple days time in the bid to win these unique, highly desirable and collectable pieces,” continued Ms Benson. 

The pink diamond necklet along with other loose diamonds, high end jewellery, fine art, rare banknotes, collectable Penfolds Grange wine, Louis Vuitton accessories and more will be up for auction this Sunday the 30th of August at 7pm with bidding open online now at www.lloydsauctions.com.au

Video footage of some of the pink diamond necklet can be found here

Scott Webber

Head Of Valuations

Accredited Senior Appraiser

Licensed Auctioneer

Qualifications & Affiliations

American Society of Appraisers (ASA)


Scott Webber is one of the founding partners at Lloyds and has worked for the company from its inception in 2004. In that time Scott has been a Licensed Auctioneer and Qualified ASA Valuer. Prior to Lloyds, Scott was a Farm Manager at Cubbie Station in Queensland, he has an earthmoving and agricultural background.

Scott is heavily involved in daily valuations. He acts for a wide range of clients and vendors including Insurance companies, Financiers, Insolvency Practitioners, Government branches, Joint Ventures and Alliances, large companies, and private individuals. Scott personally co-signs and oversees every valuation report completed by Lloyds. On average the Lloyds valuations department conducts over 500 appraisals per financial year.

Scott has managed many auctions and private sales, previously completing an approximate average of 400-800 traditional auction lots per week. Given that the Lloyds system is now online, traditional auctions are very minimal and are completed in a simulcast method, to comply with contracts we have with major government departments. Although Scott’s focus is currently Valuations, he still oversees and runs auctions weekly on a wide variety of assets from motor vehicles to very specialised process lines.

Scott offers a wealth of experience as an Auctioneer and Valuer in all aspects of Valuations and Asset Disposals.

Having headed disposal programs for Major Infrastructure Alliances, Joint Venture partnerships and Government projects throughout Australia, Scott has a wide range of experience in the Civil Construction, Earthmoving, Manufacturing and Agricultural sectors offering a “turn key” service from start to finish.

Mobile: 0439 765 669