In search of buyers: a red diamond is waiting for its owner in Australia

Platinum ring with rare red diamond from Argyle diamond mine in Australia remained unsold after some Sotheby's auctions that took place in Sydney this year. However, there is a chance this rarity ring will be sold in a secret deal. The diamond is valued between $700,000 and $1,000,000. The experts say the ring is so unique that its price can get the upper limit of its approximate value.

Currently the auction house is carrying on negotiations with potential clients as there is the possibility to sell this ring directly to the customer avoiding the auction. The oval 0.82-carat red diamond is the first to be auctioned in Australia. Unique red diamond is set in a ring and surrounded by a pair of blue diamonds and a number of small colorless gemstones. The ring can boast to have the Argyle Diamonds Certificate, which proves its rarity.

Red and pink diamonds are one of the most rare, thus are very pricey and sought-after gems. Though Argyle mine known for its red and pink diamonds was opened in 1987, the number of these exceptional gemstones of fancy red hues is still very low.

Well, fancy colored diamonds are those to be VERY rare, VERY expensive and VERY beautiful.