The 23.24-carat “Golconda Blue” fancy vivid blue diamond has been unexpectedly pulled from the May 14 Christie’s Magnificent Jewels sale, says Anthony DeMarco, contributing editor for Forbes.com. Its selling estimate was between $35 and $50 million, with some speculation even going so far as to say it could be sold for $100 million!
Keeping it in the family
According to DeMarco, “Christie’s provided a brief statement saying the unidentified owners of the rare gem decided to sell it within the family.” The statement reads: “The Golconda Blue’s historic provenance, uncovered by Christie’s research, has generated considerable market interest and much excitement globally. At this time, the owners have made the decision to pursue a sale of the diamond to a family member.”
Anthony DeMarco
Senior Contributor, Forbes.com
A spokesperson for the auction house further reinforced that it was a personal decision by the diamond’s owner to sell it within the family.
“We can confirm that neither tariffs nor any financial market movement was responsible for the change,” the spokesperson said. Christie’s, in a previous statement, said The Golconda Blue ranks among the rarest and most important diamonds ever discovered. The diamond was on a world tour and was on view in Hong Kong when the decision was made to pull it.
DeMarco goes on to tell the history of the blue diamond, “once owned by Yeshwant Rao Holkar, the Maharaja of Indore and a member of the Holkar dynasty.”
Gary Roskin
Roskin Gem News Report
The Golconda Legacy
The name Golconda holds legendary significance in the world of diamonds. Located in what is now the Telangana region of south-central India, Golconda rose to prominence in the heart of the second millennium, between the 1400s and 1600s, and became synonymous with extraordinary diamonds and immense wealth.
The region was home to some of the world’s earliest and richest diamond mines, including the famous Kollur Mine along the Krishna River, which produced many of the largest diamonds in history, centuries before mines in southern Africa began to dominate the market. Historical provenance strongly supports the idea that the Golconda Blue likely originated in the Golconda region.
Indore
While Golconda rose to global fame as a center for the diamond trade, Indore developed as a regional stronghold of political power and commerce, especially under the rule of the Holkar dynasty.
The Indore Pears
You may recognize the name Indore, as it is connected to one of the most famous jewels, the Indore Pears – Two beautiful large pear shape diamonds, once held by Harry Winston, and included in his Royal Court of Jewels.
The Indore Pears originally weighing 46.95 carats and 46.70 carats, were then recut by Winston to 44.62 carats and 44.18 carats (ref: Harry Winston, the Ultimate Jeweler, Laurence Krashes), last sold at auction by Christie’s, reportedly in 1987, and now part of the Moauwad Collection. (Published recut weights, clarities and color grades differ from source to source – gr)
A history of the pears can be found here at Philips Auction House.
The Golconda Blue
The importance of the Golconda Blue lies not only in its royal history, but in its Size and Vivid color grade. Had it not been pulled, it would have been the largest Fancy Vivid Blue Diamond offered at auction. (The largest fancy blue diamond ever offered at auction was the Wittelsbach, a Fancy Deep Greyish Blue weighing 35.56 carats, recut by Laurence Graff to its current weight, 31.06 carats, now graded Fancy Deep Blue. And of course, the largest fancy blue diamond, the Hope Diamond, Fancy Deep Greyish Blue, weighing 45.52 carats, resides in the Smithsonian Institution’s National Museum of Natural History, donated to the museum by Harry Winston.)
Tap here to read DeMarco’s full report on the Golconda Blue in Forbes.com
