Largest Ever Vivid Blue Diamond Sold At Auction Could Fetch $50m
The 23.24-carat gem, known as the Golconda Blue, is set to lead Christie's Magnificent Jewels sale in Geneva and is widely regarded as one of the most significant blue diamonds ever presented at auction.
Its provenance spans continents and centuries. Mined from the fabled Golconda region in present-day Telangana, India - a source of legendary stones such as the Koh-i-Noor and the Hope Diamond-the pear-shaped Golconda Blue is not only exceptionally large and vibrantly coloured, but also steeped in royal history.
The diamond first appeared in 1923, set in a Chaumet bracelet, before being refashioned into a necklace in the 1930s. It was worn by Maharani Sanyogitabai Devi of Indore, a noted figure in Indian modernist circles, and was captured in a now-iconic portrait by French painter Bernard Boutet de Monvel. Her husband, Maharaja Yeshwant Rao Holkar II-renowned for his eclectic taste and cosmopolitan lifestyle-was instrumental in shaping the jewel's design evolution.
In the decades that followed, the stone passed through several major jewellers, including Harry Winston, who acquired it in 1947 and paired it with a white diamond of equal size in a bespoke brooch. That brooch was later dismantled and the Golconda Blue eventually re-set in its current form - a minimalist, sculptural ring by celebrated Paris-based designer JAR.
It is a Type IIb diamond, a category so rare it comprises less than 0.1% of all diamonds. Characterised by the absence of nitrogen and the presence of boron, which gives the stone its signature blue hue, the Golconda Blue has been graded "fancy vivid" by the Gemological Institute of America-its highest colour classification.
"Exceptional noble gems of this calibre come to market once in a lifetime," said Rahul Kadakia, Christie's International Head of Jewelry. "With its royal heritage, extraordinary colour and exceptional size, The Golconda Blue is truly one of the rarest blue diamonds in the world."
Christie's auction will take place on 14 May 2025 at the Four Seasons Hotel des Bergues in Geneva.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
India will continue to buy Russian oil, government sources say
By Shivam Patel and Chandni Shah (Reuters) -India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources said, not wishing to be identified due to the sensitivity of the matter. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Trump last month indicated in a Truth Social post that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters that he had heard that India would no longer be buying oil from Russia. The New York Times on Saturday quoted two unnamed senior Indian officials as saying there had been no change in Indian government policy, with one official saying the government had "not given any direction to oil companies" to cut back imports from Russia. Reuters reported this week that Indian state refiners stopped buying Russian oil in the past week after discounts narrowed in July. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," India's foreign ministry spokesperson Randhir Jaiswal told reporters during a regular briefing on Friday. Jaiswal added that India has a "steady and time-tested partnership" with Russia, and that New Delhi's relations with various countries stand on their own merit and should not be seen from the prism of a third country. The White House in Washington did not immediately respond to requests for comment. Indian refiners are pulling back from Russian crude as discounts shrink to their lowest since 2022, when Western sanctions were first imposed on Moscow, due to lower Russian exports and steady demand, sources said earlier this week. The country's state refiners - Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd - have not sought Russian crude in the past week or so, four sources familiar with the refiners' purchase plans told Reuters. INDIA'S TOP SUPPLIER On July 14, Trump threatened 100% tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the top supplier to India, responsible for about 35% of India's overall continued to be the top oil supplier to India during the first six months of 2025, accounting for about 35% of India's overall supplies, followed by Iraq, Saudi Arabia and the United Arab the world's third-largest oil importer and consumer, received about 1.75 million barrels per day of Russian oil in January-June this year, up 1% from a year ago, according to data provided to Reuters by sources. Nayara Energy, a major buyer of Russian oil, was recently sanctioned by the European Union as the refinery is majority-owned by Russian entities, including oil major month, Reuters reported that Nayara's chief executive had resigned after the imposition of EU sanctions and company veteran Sergey Denisov had been appointed as CEO. Three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions on the Russia-backed refiner, Reuters reported late last month. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
India will continue to buy Russian oil, government sources say
By Shivam Patel and Chandni Shah (Reuters) -India will keep purchasing oil from Russia despite U.S. President Donald Trump's threats of penalties, two Indian government sources said, not wishing to be identified due to the sensitivity of the matter. "These are long-term oil contracts," one of the sources said. "It is not so simple to just stop buying overnight." Trump last month indicated in a Truth Social post that India would face additional penalties for purchases of Russian arms and oil. On Friday, Trump told reporters that he had heard that India would no longer be buying oil from Russia. The New York Times on Saturday quoted two unnamed senior Indian officials as saying there had been no change in Indian government policy, with one official saying the government had "not given any direction to oil companies" to cut back imports from Russia. Reuters reported this week that Indian state refiners stopped buying Russian oil in the past week after discounts narrowed in July. "On our energy sourcing requirements ... we look at what is there available in the markets, what is there on offer, and also what is the prevailing global situation or circumstances," India's foreign ministry spokesperson Randhir Jaiswal told reporters during a regular briefing on Friday. Jaiswal added that India has a "steady and time-tested partnership" with Russia, and that New Delhi's relations with various countries stand on their own merit and should not be seen from the prism of a third country. The White House in Washington did not immediately respond to requests for comment. Indian refiners are pulling back from Russian crude as discounts shrink to their lowest since 2022, when Western sanctions were first imposed on Moscow, due to lower Russian exports and steady demand, sources said earlier this week. The country's state refiners - Indian Oil Corp, Hindustan Petroleum Corp, Bharat Petroleum Corp and Mangalore Refinery Petrochemical Ltd - have not sought Russian crude in the past week or so, four sources familiar with the refiners' purchase plans told Reuters. INDIA'S TOP SUPPLIER On July 14, Trump threatened 100% tariffs on countries that buy Russian oil unless Moscow reaches a major peace deal with Ukraine. Russia is the top supplier to India, responsible for about 35% of India's overall continued to be the top oil supplier to India during the first six months of 2025, accounting for about 35% of India's overall supplies, followed by Iraq, Saudi Arabia and the United Arab the world's third-largest oil importer and consumer, received about 1.75 million barrels per day of Russian oil in January-June this year, up 1% from a year ago, according to data provided to Reuters by sources. Nayara Energy, a major buyer of Russian oil, was recently sanctioned by the European Union as the refinery is majority-owned by Russian entities, including oil major month, Reuters reported that Nayara's chief executive had resigned after the imposition of EU sanctions and company veteran Sergey Denisov had been appointed as CEO. Three vessels laden with oil products from Nayara Energy have yet to discharge their cargoes, hindered by the new EU sanctions on the Russia-backed refiner, Reuters reported late last month. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Gold demand in key Asian hubs improves amid price correction
By Rajendra Jadhav and Anmol Choubey (Reuters) -Physical gold demand in key Asian markets improved slightly this week as a pullback in prices sparked buying interest, though volatility kept some buyers cautious. Spot gold hit its lowest level in a month on Wednesday and was headed for third consecutive weekly loss. [GOL/] Invest in Gold Thor Metals Group: Best Overall Gold IRA Priority Gold: Up to $15k in Free Silver + Zero Account Fees on Qualifying Purchase American Hartford Gold: #1 Precious Metals Dealer in the Nation "This week, footfall was better than last week. Buyers were inquiring about price trends and making small purchases," said a Pune-based jeweller. Domestic gold prices were trading around 97,700 rupees per 10 grams on Friday after rising to 100,555 rupees last week. Discounts offered by Indian dealers narrowed to as much as $7 an ounce over official domestic prices, inclusive of 6% import and 3% sales levies, compared to up to $15 last week. Jewellers were keen to make purchases to replenish inventory after a correction in overseas prices, but a significant drop in the rupee offset the impact of the price fall to an extent, said a Mumbai-based bullion dealer with a private bank. India's gold consumption in 2025 is set to fall to a five-year low, as record-high prices are denting jewellery purchases, the World Gold Council said on Thursday. In China, dealers quoted gold in a wide range, between a discount of $4.2 and a premium of $12 per ounce above international rates. "China appears to slightly buy the dip in gold... trading volume for the physical proxy contract AU9999 on the Shanghai Gold Exchange has been on the rise (11 tons traded yesterday), reflecting a renewed interest in the metal," said Hugo Pascal, a precious metals trader at InProved. In Hong Kong gold was sold at par to a $1.50 premium, while Singapore prices ranged from par to a $1.40 premium. In Japan, bullion was sold at par to a premium of $0.60. "There was lots of demand to buy if the price dropped even slightly. Regardless of the Japan-U.S. trade deal, gold is being purchased as an asset class amid low interest rates," a Japan-based trader said. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
