A RARE piece of India’s royal heritage, ‘The Golconda Blue’ -- a historic diamond once owned by the Maharajas of Indore and Baroda -- is set to make its auction debut at the Christie’s ‘Magnificent Jewels’ sale in Geneva on May 14. The 23.24-carat vivid blue diamond, mounted in a striking modern ring by celebrated Parisian designer JAR, is expected to fetch an estimated value between USD 35 and USD 50 million (Rs 300 – Rs 430 crore). “Exceptional noble gems of this caliber come to market once in a lifetime. “With its Royal heritage, extraordinary colour, and exceptional size, ‘The Golconda Blue’ is truly one of the rarest blue diamonds in the world,” Rahul Kadakia, Christie’s International head, said.

 

Hailed as one of the most important and rarest blue diamonds ever discovered, what makes the auction more significant for Indian audiences is its direct lineage to Indian royalty -- and its origins in the legendary Golconda mines of present-day Telangana. According to Christie’s, ‘The Golconda Blue’ once belonged to Maharaja Yeshwant Rao Holkar II of Indore. In 1923, the Maharaja’s father commissioned a bracelet featuring this extraordinary blue diamond from the French house Chaumet, after he had earlier acquired the famed “Indore Pears” -- the two significant Golconda diamonds -- from the same jeweller, they informed. A decade later, the Maharaja appointed Mauboussin as his official jeweler, who redesigned the royal collection and incorporated ‘The Golconda Blue’ into a striking necklace alongside the famed Indore Pear diamonds.

 

The piece was immortalised in a portrait of the Maharani of Indore by French painter Bernard Boutet de Monvel. In 1947, the diamond was acquired by famed New York jeweller Harry Winston, who set it in a brooch with a matching white diamond of equal size. That brooch later found its way to the Maharaja of Baroda. The live auction will take place at the Four Seasons Hotel des Bergues in Geneva.