Ring with Argyle Diamonds Fetches over $1M

RAPAPORT... An emerald ring set with pink diamonds from Rio Tinto's Argyle mine has raked in $1.1 million at auction.The piece, named Majestique, was part of a collaboration between Muzo and Argyle Pink Diamonds, Rio Tinto's brand for the fancy-colored stones from its Australian mine. It was the star of Muzo's May auction in Hong Kong, the emerald miner and jeweler said last week.Set with a cushion-cut, 9.20-carat Colombian emerald center stone surrounded by round pink and blue diamonds and shield-shaped and round white diamonds, the ring realized $125,000 per carat. The piece carried an estimate of $930,000 to $1.3 million.Also on offer at the sale was a matching Majestique pendant necklace that featured a pear-shaped, 4.72-carat Colombian emerald with variously cut pink Argyle diamonds and round white diamonds. The jewel sold for $213,000, exceeding its $190,000 upper price tag.Image: The Majestique emerald and pink diamond ring. (Muzo)