The Golconda Blue: Rare 23.24-carat blue diamond expected to fetch over Rs 400 crore at Christie auction

One of the world's finest rare blue diamonds, known as The Golconda Blue, is about to make headlines as it goes under the hammer for the first time at a Christie auction. Scheduled for sale on May 14, 2025, at Christie¡¯s Magnificent Jewels auction in Geneva, this breathtaking gem is more than just valuable¡ªit's a piece of India's royal history.

According to Christie's, this rare blue diamond is expected to sell for between $35 million and $50 million (roughly Rs 300 crore to Rs 430 crore), making it one of the highest-valued gems in this year's blue diamond auction.

An Iconic Gem from the Famous Golconda Mines

The name ¡°Golconda Blue¡± comes from the legendary Golconda region in present-day Telangana, India. This area is known worldwide for producing some of the most iconic diamonds in history, including the Koh-i-Noor, Hope Diamond, and Darya-i-Noor. These mines were celebrated not just for their size and output, but for the outstanding purity and sparkle of their diamonds.

Unlike most modern diamonds, which are Type IIb (pure carbon with traces of nitrogen), Golconda Blue diamonds stand out for their clarity, brilliance, and deep colour.

From Indian Royalty to Global Spotlight

Rahul Kadakia, Christie¡¯s International Head of Jewelry, shows the Golconda Blue diamond | Credit: Reuters

This 23.24-carat pear-shaped rare blue diamond has deep royal roots. It once belonged to Yeshwant Rao Holkar, the Maharaja of Indore, a prominent figure of Indian royalty during the 1920s and 30s. Known for his refined taste and love for fine art and luxury, the Maharaja had strong ties with European jewellers and designers.

In 1923, during a visit to the Parisian jeweller Chaumet, the Maharaja commissioned a diamond bracelet featuring this stunning 23-carat Golconda Blue diamond. Later, in 1933, he worked with famed jeweller Mauboussin, who redesigned many pieces in the royal collection. The Golconda Blue was included in a lavish necklace, famously worn by the Maharani of Indore and captured in a painting by Bernard Boutet de Monvel.

Passed Through the Hands of Iconic Jewellers

Over the years, the Golconda Blue diamond changed hands among legendary jewellers. In 1946, renowned diamond dealer Harry Winston purchased the Indore Pears, followed by this exceptional 23-carat blue diamond in 1947. Winston set it into a brooch paired with a white diamond of similar size and later sold it to the Maharaja of Baroda.

The jewel was eventually reacquired by Winston and transformed into a new piece, later bought by its current owner. Now, more than a century since it first dazzled royal courts, the Golconda Blue returns to the limelight¡ªthis time, as a sleek ring designed by acclaimed Parisian jeweller JAR.

One of the Rarest Blue Diamonds in the World

A hand model displays the Golconda Blue diamond, which Christie's is calling the largest fancy vivid blue diamond to be offered at auction, in New York City | Credit: Reuters

Rahul Kadakia, International Head of Jewellery at Christie¡¯s, called the Golconda Blue one of the most extraordinary Golconda Blue diamonds ever offered at auction. He noted, ¡°With its royal lineage, striking blue hue, and impressive size, this is a once-in-a-lifetime gem.¡±

Christie¡¯s has a rich legacy of auctioning notable Golconda diamonds, including the Archduke Joseph, the Princie, and the Wittelsbach diamonds. This upcoming Christie auction continues that tradition, offering collectors and enthusiasts a chance to own a truly remarkable piece of history.

The Glorious Past of Golconda Diamonds

The heritage of Golconda diamonds stretches back thousands of years. Ancient Indian texts mention diamonds as early as the 4th century. In 327 BC, Alexander the Great carried diamonds from India to Europe, and by 1292 AD, the famous explorer Marco Polo wrote about the sparkle and charm of Indian diamonds.

Today, the Golconda Blue connects centuries of history with modern luxury, making it a perfect blend of natural wonder and royal heritage. This rare blue diamond is not only a treasure of the past but also a showstopper in today¡¯s world of luxury auctions.

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