Vision to Rarity: A Love Affair with Pink Diamonds

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» Love at first sight
» Expanding the circle
» Life after retail
» Democratising pink diamonds
» Colour blender: A jungle and desert love affair
» What does the future hold for pink diamonds?
» Does that excitement ever fade away?

The Argyle Mine may be closed, but the story of Australia’s pink diamonds is far from over.

Few people have shaped that story more than John Glajz. For almost four decades, he has quietly been at the forefront of the extraordinary rise of Australian pink diamonds. In so many ways, Glajz has been at the tip of the spear when it comes to the incredible popularity of Argyle ‘pinks’.

As the broader jewellery industry came to recognise their rarity and value, he has been one of the people instrumental in shaping their journey from a curiosity into one of the world's most coveted natural treasures.

Glajz was, at one point, the largest recorded purchaser of pink diamonds by volume from the Argyle Mine. Today, after nearly 40 years of work, his fingerprints can be found on more than 60 projects and some 3,000 pink diamond pieces.

Even after the Argyle Mine's closure in 2020, when its pink diamond reserves were exhausted, his work has continued.

Love at first sight

Naturally, this story begins with the opening of the Argyle Mine in the remote Kimberley region of Western Australia in 1985.

At its peak, Argyle was the world's largest diamond producer by volume and supplied around 90 per cent of the world's pink diamonds, transforming an obscure corner of the country into the epicentre of one of the jewellery industry's most remarkable chapters.

Red diamonds entered public consciousness in 1987, when Christie's New York sold the Hancock Red – a mere 0.95 carats of purplish-red — for $880,000. They remain so vanishingly rare that most diamond dealers will never handle one.

At the time, Glajz's own journey was already underway. He entered the jewellery industry in Sydney in the late 1970s, working for Fred and Maria Neuman of Mondial Jewellers. Just two years later, he was sent to Singapore to expand the business. It was a move that would prove pivotal when he assumed ownership in 1986.

“I will always be grateful for that opportunity”, Glajz tells Jeweller.

While Glajz was establishing himself in Singapore, a landmark auction on the other side of the world would reshape the market for fancy colour diamonds. In April 1987, Christie's New York sold the Hancock Red — a 0.95-carat purplish-red diamond — for $USD880,000, setting a world-record price per carat for any diamond sold at auction. It was an achievement that captured Glajz’s attention.

“I believe that it all started in 1987, when a diamond of similar size that I would purchase years later - but with a GIA grading of ‘Red’ - was sold by Christie’s New York for almost $USD1 million per carat,” he remembers.

In today’s money, that would be more than $USD2.3 million ($AUD3.4 million) per carat.

“It was a world record, per carat, of any diamond sold previously. This sale fundamentally highlighted the collectability of rare fancy colour diamonds, therefore, causing the market to gravitate towards Argyle pink diamonds, with the elusive red colour being the holy grail.”

The Argyle Pink Diamond Tiara, designed by Asprey's of London was unveiled in 2010 at Masterpiece London and attracted immediate attention. It was acquired by West Australian jeweller Linneys in 2012 and renamed The Linney's Argyle Pink Diamond Tiara The centrestone is a detachable pear-cut Fancy Vivid Pink diamond weighing 0.8-carat ring. Total estimated weight of Pink Diamonds: 178 stones totalling over 20-carats. Crafted by the historic British crown jeweller Garrard, this breathtaking tiara was modelled with Garrard’s signature V-shaped motifs, set to the centre. The centrestone is a detachable square radiant-cut Fancy Intense Pink VS2 diamond weighing 1.01-carats that can be worn separately as a ring.  Total estimated weight of Pink Diamonds: 2.65-carats. Complete with its original fitted presentation box and the designer's original sketch, this piece fetched an impressive final hammer price of 2,180,000 HKD, far exceeding its original high estimate.

Expanding the circle

In 1990, Mondial Jewellers became a joint venture with Singapore’s publicly listed The Hour Glass Limited – a pivotal move that helped his career gather momentum. As Glajz's career progressed throughout the 1990s, so too did the network of figures who would shape his understanding of some of the world's rarest diamonds.

"Pink diamonds were our point of difference compared to other traditional diamond and jewellery wholesalers."

John Glajz, Glajz

From vintage jewellery design to the scientific intricacies of fancy colour diamonds, each relationship expanded his knowledge and his confidence, preparing Glajz for a market where intuition often proved as valuable as experience.

"During the 1990s, I was introduced to the late Michael Kazanjian, a renowned American jeweller, who introduced me to vintage jewellery and helped open up the US market for my company," Glajz recalls.

Another pivotal relationship followed later that decade when he met Geneva-based diamantaire Michel Farah. While Glajz had already established himself as a respected jeweller, he credits Farah with deepening his appreciation for fancy colour diamonds and encouraging him to think beyond conventional commercial boundaries.

"I refer to him as my 'guru' of fancy colour diamonds," Glajz explains.

“I was able to learn much from him. He also gave me the courage to buy diamonds, which would have normally been out of my price range. We have enjoyed working together in various partnerships and collaborations for 20 years.”

Those lessons would prove invaluable because acquiring the world's rarest fancy colour diamonds was never simply a matter of recognising quality; it demanded conviction.

Pink diamond tenders attract fierce international competition, and every bid carries significant financial risk. Every successful purchase required balancing commercial discipline with the knowledge that a comparable opportunity might never arise.

More than anything, Glajz believes that having luck is sometimes better than having wisdom – and that sometimes you make your own luck.

“Buying these exceptionally rare diamonds via the tender process was a double-edged sword. If you won, you may have overpaid by outbidding everyone else, and if you did not win, it’s possible you should have paid more,” Glajz reveals.

“In most instances, having joint venture partners on board made the decisions much easier. There was always emotion in these purchases, given the fact that the diamonds on offer were so beautiful. Over a 30-year period, we did have an exceptional run in our acquisitions."

For Glajz, however, those decisions were never driven solely by the pursuit of commercial success. The rarity of Argyle's finest pink diamonds meant each purchase represented a fleeting opportunity that could not simply be replicated at the next tender.

Over time, experience taught him that hesitation could prove just as costly as overpaying, reinforcing the philosophy instilled through years of mentorship and collaboration.

“I recall two occasions when I felt doubt and even fear. The first time was during the 2008 Global Financial Crisis," he says.

“Ironically, it was around the time when we committed to launch the Argyle brand in Copenhagen in conjunction with my good friend, Ulrik Hartmann, in his magnificent store.

“Although the financial markets were in meltdown and the world’s economic outlook appeared to be fragile, the event became a huge success, with Hartmanns becoming one of the most visible Argyle pink diamond retailers in Europe.”

The second instance Glajz highlighted was the decision to purchase an entire premium tender on the eve of the COVID-19 pandemic. While few could have predicted the long-term impact the pandemic would have on the global economy, as Glajz says: sometimes it's better to be lucky than wise, and sometimes you must make your own luck.

Life after retail

After the sale of Mondial Jewellers Singapore in 2004, Glajz embarked on a new venture, establishing himself as a specialised international wholesaler and distributor of fancy colour diamonds and limited-edition jewellery. It marked the beginning of the GLAJZ brand, through which he would develop numerous exclusive designs celebrating Australia's rarest diamonds.

“After a very brief and relaxing post-sale vacation, I decided that the best path for me would be to enter the international wholesale market and attempt to turn as many as possible of my former suppliers into clients. It worked.” Glajz explains.

“Much of my activity and capital went into purchasing and distributing Argyle pink diamonds internationally. It was our point of difference compared to other traditional diamond and jewellery wholesalers.

“Having a retail and marketing background, I enjoyed the creative indulgence in developing exclusive designs and limited editions. I still enjoy it now. I made sure our Argyle pink diamond signature was on practically every item we produced.

“No one else was doing this at the time. We also created and sponsored advertising campaigns for our clients to increase demand for the products we sold them. This made us more visible in the market.”

By combining exceptional Argyle pink diamonds with distinctive design, compelling storytelling and retailer-focused marketing, Glajz created a proposition that extended well beyond the traditional wholesale model. As demand for the rarest diamonds intensified, the value of collaboration became equally apparent.

“Apart from this, two of my former suppliers became my friendly joint venture partners in important acquisitions of fancy colour diamonds. This proved to be of great assistance,” Glajz says.

“I learnt much from them in the way that they look at and value these diamonds. It also enabled me to have access to new markets, as well as additional financial leverage in order to be able to purchase even more.”

Collaborations central to everything

One of the defining milestones of Glajz's career came when he was recognised by Rio Tinto's Argyle Pink Diamonds as an Icon Partner, one of the highest honours the company bestows.

Between 2008 and 2024, Glajz carefully assembled a select network of retail partners, choosing businesses that shared his commitment to craftsmanship, education, and legacy over short-term commercial gain. Rather than simply supplying rare diamonds, he sought collaborators who would help tell the Argyle story.

“These still remain wonderful relationships, for which I am grateful. I am honoured to have been given the trust and opportunities to embark on numerous projects,” Glajz explains.

“I believe that the open dialogue and my willingness to always want to do more have been well received. I appreciate the recognition that I was passionate and stood behind whatever I suggested to be the ‘next thing’.

“Fortunately for me, it always somehow fell into place and created additional revenue for everyone whilst enhancing the visibility of the Argyle pink diamond brand, since my company sponsored some of the advertising and marketing. All the pieces made by us in these partnerships became a part of the Argyle brand’s legacy.”

Few collaborations better illustrate that philosophy than Glajz's long-standing creative partnership with The Perth Mint. This partnership has produced a series of creations that combine Australian legal-tender coins with some of the world's rarest diamonds, pushing boundaries in collector circles.

Among the highlights was the Kimberley Treasure — a one-kilogram legal-tender gold coin featuring a rare Argyle red diamond — which sold for $1 million within 48 hours of its release.

This was followed by The Australian Trilogy in 2017, a unique three-coin collection crafted in yellow gold, platinum and rose gold and set with exceptional Argyle pink and violet diamonds. It was sold for $1.8 million within one month.

The partnership also produced the one-of-a-kind Discovery Coin in 2018, valued at $2.48 million and described as a celebration of destiny, with a worldwide mintage of just one.

“Together with The Perth Mint, we developed numerous numismatic creations using gold bullion and Argyle pink diamonds in various ingots and Australian legal tender coins, including the Jewelled coins. No one had done it before,” Glajz explains.

“We created a one-kilogram legal tender gold coin that was the first of its kind to feature a red diamond from the Argyle. It depicted a Kangaroo and was called the Kimberley Treasure.

“This was followed by another exceptional concept, The Australian Trilogy. An edition of three coins, each one kilogram, in yellow gold, platinum, and rose gold, depicting Australian fauna and set with exceptional Argyle pink diamonds.”

He added, “Together we also developed a ring, The Argyle Treasure, under the Argyle Pink Diamond Icon programme, which was sold recently.”

Indeed, earlier this year, The Perth Mint announced the sale of the one-of-a-kind Argyle Treasures ring. Featuring 2.89 carats of fancy colour diamonds from the Argyle mine, including a matching pair of vivid pink oval diamonds totalling 0.75 carats, the 18-carat gold ring is further adorned with 285 pink diamonds and four blue diamonds.

Described as a celebration of the Kimberley's vivid sunsets and the striking blues of Lake Argyle, the piece serves as a fitting reminder that, although the mine has closed, the legacy of its extraordinary diamonds continues to evolve through creations inspired by their rarity and the region that created them.

Unveiled by The Perth Mint in 2017, The Australian Trilogy represents breathtaking artistry and luxury craftsmanship. Valued at $1.8 million, this one-of-a-kind collection features three ultra-rare, one-kilogram legal tender coins. It is celebrated globally as the first coin series to ever incorporate pink and violet diamonds from Rio Tinto’s legendary Argyle Diamond Mine in Western Australia. The Australian Kookaburra shines in 99.99% pure yellow gold, accompanied by a 0.47-carat deep purple-pink diamond. Bounding across an outback plain, the Australian Kangaroo is struck from 99.95% pure platinum and boasts a 0.46-carat dark grey-violet diamond. Completing the trinity, the Australian Koala is rendered in 91.67% rose gold, beautifully offset by an intense 0.58-carat pink diamond.   2018 The Jewelled Phoenix 2019 The Jewelled Dragon 2020 The Jewelled Tiger 2021 The Jewelled Horse 2022 The Jewelled Koi 2023 The Jewelled Snake 2024 The Jewelled Turtle Launch Price $188,000 AUD $179,000 AUD $259,000 AUD $279,000 AUD $262,800 AUD $289,000 AUD $269,000 AUD Mintage 8 9 8 8 8 8 8 Centerpiece Material 18ct rose gold 18ct Rose Gold 18ct Rose Gold 18ct Rose Gold 18ct Rose & 18ct White Gold 18ct Rose & 18ct White Gold 18ct Gold Pink Diamonds & Gemstones 89 Argyle pink diamonds (1.22 carats) set into the plumage and paulownia tree flowers. 117 Argyle pink diamonds. One Colombian Muzo emerald eye. Up to 3.00 carats of Argyle pink pavé-set on the body. Two Colombian Muzo emerald eyes. 169 Argyle pink diamonds (2.76 carats) set on a rearing horse. Two Argyle golden diamond eyes. 78 Argyle pink diamonds on the upper koi; 80 white diamonds on lower koi. Four Argyle golden diamonds eyes. 175 Argyle pink diamonds and 111 white diamonds forming the scales. Two emeralds for the eyes. 113 Argyle pink diamonds across the shell. 52 white diamonds on head/limbs, Two emeralds for eyes.

Democratising pink diamonds

The Collector’s Editions have been pivotal in promoting not only the natural beauty of pink diamonds, but also the value of their scarcity and the importance of provenance.

The project started in 2017. It was a smash hit, selling 1,000 units in its first 12 months and 4,000 in total. Glajz explains that this has always been done with a singular mission in mind: make pink diamond jewellery more accessible without compromising on quality.

“There was already firm talk about the mine closing in three years. Pink diamond production was becoming much smaller, with demand growing and pushing prices up. I identified a gap in the market,” he explains.

“We had large quantities of smaller ungraded Argyle pink diamonds in our vault which we wanted to make accessible to consumers. We were mindful not to impact the exclusivity of the product in any way. 

“Our mission was to have these presented by jewellers to manufacture bespoke pieces for their clients. Much to my surprise, many of the purchases of these Collector’s Edition packets were for gifts.”

Key to the success of this specific project was increasing the value consumers place on independent verification and provenance. A partnership with the International Gemological Institute (IGI) in Antwerp sealed the deal.

“I guess it had something to do with the fact that they were the size of a credit card. Easy to carry in a wallet, therefore, easy to gift. The product had an international market reach beyond my expectations,” he says.

"I was amazed to see how many places this product turned up throughout the world.”

Colour blender: A jungle and desert love affair

Glajz's reputation for developing distinctive concepts would eventually extend beyond Australia's borders. Among his most ambitious international projects was a groundbreaking collaboration between Muzo Emerald Colombia and the Argyle Diamond Mine, uniting two of the world's most celebrated gemstone sources in a single collection.

The result was The Green Jewel Collection. It’s a multi-chapter rarity programme that paired the rich green hues of Colombian Muzo emeralds with the delicate beauty of Argyle pink diamonds. Since its debut in 2017, the collaboration has evolved into five collections, the latest of which, Elements, comprises 25 individually designed pieces created by Glajz and his design team.

Each creation centres on an emerald sourced from the Muzo mine in Boyacá, Colombia, complemented by pink diamonds from Western Australia. It’s a union that celebrates the geological rarity and shared heritage of two iconic gemstone brands.

“Collaborating with Muzo Emeralds was also an amazing experience. I was asked to develop and market the first fusion of the two branded gems, Muzo and Argyle. We called it The Green Jewel Collection,” Glajz explains.

“I was intrigued to learn that both companies had similar sustainable mining practices in two separate, geographically remote regions across the globe. These collections were very well received by the market. What was meant to be one collection became five.”

For Glajz, however, the success of any project is never guaranteed, despite his track record. Regardless of the rarity of the gemstones or the strength of the concept, every new collection begins with the same uncertainty that has accompanied his career for decades.

“Every project is a challenge. One always questions oneself. Especially when one comes up with the idea and is entrusted with its development,” he says.

“When it does sell, over and over again, one cannot help but to celebrate with a bottle of champagne - pink, of course!”

Since 2017, Argyle x Muzo brought together two of the earth's rarest legacies. in a single, extraordinary partnership - a meeting of colour, craft and provenance that redefined what high jewellery could be.

What does the future hold for pink diamonds?

With an eye on the future, Glajz is busy putting the finishing touches on a new limited edition collection of 80 pink diamond pieces. This will be the final limited edition release under the Argyle Atelier and Authorised Partner brand licenses, which are due to expire in December.

For Glajz, the closure of the Argyle mine did not signal the end of the pink diamond story; it merely marked the beginning of a new chapter.

With supply exhausted, the responsibility now rests with the broader industry to preserve the narrative surrounding these exceptional diamonds and ensure future generations understand their significance.

“Many retail jewellers, especially those in Australia, have a long-standing association with Argyle pink diamonds,” Glajz says.

“It is an Australian icon after all. They still hold stock and receive specific requests. The love will always be there. I guess that there should be more storytelling with reference to the fact that the supply of these gems is finite.”

That emphasis on storytelling has long been central to Glajz's approach. Throughout his career, he has viewed rare diamonds and gemstones as more than products. They are pieces of history, shaped by geography, craftsmanship, and the people who bring them to market.

In a post-Argyle landscape, he believes that communicating this provenance will be critical to maintaining both appreciation and value.

“Even though business has been slow due to the current geopolitical situation, inflationary pressures, perceived global instability and shifts in consumer priorities, I believe that there will ultimately always be demand for rarity,” Glajz explains.

“Something that is exceptional, natural and exclusive. It is a question of effective marketing. However, the future value of the Argyle legacy depends not only on the scarcity and rarity of those diamonds, but also on disciplined brand stewardship and management.”

Does that excitement ever fade away?

For someone who has spent decades surrounded by the world's rarest gemstones, Glajz's connection to pink diamonds remains personal. Even after thousands of diamonds, countless creations, and the closure of the mine that started it all, the fascination has never diminished.

When asked what a hypothetical ‘time capsule’ project for pink diamonds might look like, his answer reflects the same imagination that has guided so many of his creations.

“Personally, I have always loved fancy shapes. For example, there is nothing more romantic than a pink or, ultimately, red heart-shaped diamond," he answers.

“If I had my way, I would create a limited edition of pure gold miniature capsule pendants that unscrew and fill them with small pink diamonds of different shades.”

“In fact, I must just do exactly that,” Glajz laughs. “Any takers out there?”

It is an idea that captures the essence of Glajz's approach: preserving something rare, meaningful and irreplaceable for the generations that follow. For him, these diamonds are not simply assets to be traded. They are fragments of history, carrying the story of a mine, an industry, and the people who helped shape its legacy.

But does that sense of wonder ever fade after so many years?

“Not particularly," Glajz answers.

"I recall a recent interview with a UK journalist for the Financial Times, where I described my affinity with Argyle pink diamonds as an ‘addiction’.

"Every time a parcel containing Argyle pink diamonds lands in our office, I am excited to see it as soon as it is opened. It is like a child unboxing a Christmas gift.”

Perhaps that is the defining characteristic of Glajz's relationship with pink diamonds. When you meet him, you realise it was never built solely on opportunity, rarity, or value. Instead, the love affair was built on curiosity, creativity, and an enduring passion for diamonds that will continue to captivate.

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