World's Rarest Blue Diamond Under the Hammer

A museum-quality diamond, royal provenance and an estimated value of over €46 million: The Golconda.

A museum-quality diamond, a royal provenance and an estimated value of over €46 million: The Golconda Blue has all the makings of a show-stopper this auction season…

Christie's is auctioning a rare diamond like no other on May 14 in Geneva: a 23,24-carat fancy vivid blue Golconda diamond, set in a ring by the exclusive Parisian jeweler JAR. It is the largest diamond in its color category ever offered at auction. Estimated value? Between €32,5 and €46,5 million.

The stone has a remarkable provenance. It was once owned by Yeshwant Rao Holkar, the charismatic Maharaja of Indore, and his wife Krishna Bai Holkar, both style icons in the 1923s and 1933s. In XNUMX, the Maharaja took the diamond to Paris to have it set in a bracelet by Chaumet. Ten years later, the stone was set again, this time in a necklace by Mauboussin, who appointed Holkar as his official jeweler in XNUMX. The necklace was worn by the Maharaja and is captured in a famous portrait.

“Exceptional gemstones of this caliber only come onto the market once in a lifetime”

In 1947, the diamond was purchased by Harry Winston, nicknamed the King of Diamonds. He combined the blue stone with a white diamond of equal size in a brooch, which was sold to the Maharaja of Baroda. Winston later bought the piece back and sold it in an altered form to the current owner.

For the first time in its rich history, the diamond is now being offered to the public. “Exceptional gems of this caliber only come to market once in a lifetime,” said Rahul Kadakia, Christie’s global head of jewelry. “With its royal heritage, exceptional color and impressive size, the Golconda Blue is truly one of the rarest blue diamonds in the world.”

The most expensive blue diamond to date was the 15,10-carat The Beers Blue, which was auctioned at Sotheby's in Hong Kong in 2022 for €53,5 million.