Di Fitzpatrick selling pink diamonds estimated to be worth $4m to $8m

She’s the Brisbane retiree who quietly collected an impressive collection of pink diamonds from WA’s famous Argyle mine. Now she is preparing to sell, and their potential worth is truly dazzling.

She’s the Brisbane retiree who quietly amassed a small fortune in extremely rare jewels many years ago.

Now Di Fitzpatrick is getting ready to part with her exquisite collection of highly-prized pink diamonds as part of a first-of-its-kind public tender campaign later this month.

The 80-year-old is poised to reap a financial windfall thanks to her astute purchases, made at the time simply because she fell under their spell.

Estimates suggest that her 11 diamonds could attract offers of anywhere from $4.5m to $8.1m based on robust demand, which has seen prices soar 600 per cent over the past 20 years.

Di Fitzpatrick is preparing to sell her collection of pink diamonds.

One of those precious rocks alone, a round 2-carat beauty with an intense purplish pink hue, is tipped to fetch anywhere from $1.5m to $2.5m.

Adding to the allure is the fact that her jewels came from Rio Tinto’s now-shuttered Argyle diamond mine in the East Kimberley region of Western Australia.

It was the world’s largest source of the precious rocks before closing in late 2020 after 37 years in operation.

Her collection is the biggest single one among 38 of the pink diamonds that have been made available in an online tender campaign orchestrated by yourdiamonds.com between June 21 and July 1.

The other jewels come from a variety of sources, including a former Argyle staffer, a deceased estate and a mortgagee in possession. Taken together, they are expected to sell for between $12m and $18m.

Fitzpatrick first took a shine to the diamonds when a Hardy Brothers rep gave a talk about them in the late 1980s at Brisbane Grammar School, where her sons were enrolled.

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“From that moment on I became fascinated with these beautiful pink diamonds,’’ she said.

“When I visited the World Expo in Brisbane in 1988, I went straight to the Argyle stand and fell in love with the stones they were offering for sale. I acquired a group of these diamonds (and) I bought a few more stones in the years immediately following the Expo.”

So why is she selling? Sadly, Fitzpatrick said she no longer has the lifestyle that allows her to wear the rings, stud earrings and other noteworthy pieces.

“I have loved collecting these gems over the years. It is time for others to experience the pleasure that I have had with these little treasures.’’

Tim Goodman, a Sydney-based former chairman of Sotheby’s Australia and the founding director of yourdiamonds.com, said the private collection was unlike anything else he had seen in his 40-year career in the jewellery auction business.

“There has never been such a large and valuable group of pink diamonds offered for public sale,’’ he said.

PAYING A PREMIUM

David Devine will pay a premium to snare a prime beachfront site at Surfers Paradise for his second Gold Coast unit project this year.

The seasoned Brisbane-based developer has an unconditional deal to fork out $45m to buy the old Surfers Royale hotel building on the corner of Markwell Ave and Northcliffe Terrace.

The current owner, a company associated with billionaire Chinese developer Riyu Li and his Ridong Group, paid $22.3m for the 2251 sqm property in 2015.

That’s the same mob originally behind the Glitter Strip’s troubled three-tower Jewel project, valued at more than $1bn when first unveiled 10 years ago.

Their plans to redevelop the Surfers Royale site never eventuated even though approvals were secured to knock down the ageing 14-storey former timeshare tower, which dates from the 1970s and still offers holiday letting.

David Devine

Devine now plans to build a flashy $340m project dubbed Royale Gold Coast, with prices starting at $1.6m and averaging about $3m.

Assuming he get the usual ticks of approval from council, he hopes to start construction early next year on the 38-level building, which will have 108 apartments even though a current DA allows for 168.

Completion is expected in about three years and, when finished, it will feature plenty of “five star amenities,’’ including three separate swimming pools.

Devine told City Beat on Wednesday that it took about six months to find what he was looking for, a northeast-facing block of land bigger than 2000 sqm in size.

The brief to his design team was short and sweet. “I want people who walk along the beach to look up and say ‘that’s where I want to live,’ ” he said.

Meanwhile, Devine claimed nearly all 35 units in his 21-level Alba project on the beachfront at North Burleigh have been sold.

He only unveiled plans in April for the $105m tower on The Esplanade, with prices starting at $2.25m. Construction is set to start later this year.

Devine’s first foray into the Gold Coast unit market follows a long career in the development game, which started in 1984.

Under the guise of ­several companies, he’s overseen the building of more than 25,000 homes and another 6000 units across the country