The Golconda Blue Diamond Set for Historic Auction in Geneva

The rare and historically significant ‘The Golconda Blue’ diamond, once part of the royal collections of the Maharajas of Indore and Baroda, is poised to capture international attention again. This exceptional blue diamond will be auctioned by Christie’s at the ‘Magnificent Jewels’ sale on May 14 in Geneva.

Weighing 23.24 carats, this extraordinary gemstone has been set into a modern ring crafted by renowned Paris-based jeweller JAR. Christie’s estimates its value to be between USD 35 million and USD 50 million, approximately ₹300 crore to ₹430 crore.

Rahul Kadakia, Christie’s International Head of Jewellery, stated, “Jewels of such remarkable royal provenance enter the market only once in a lifetime. Over its 259-year history, Christie’s has had the honour of auctioning some of the world’s most important diamonds, including the Archduke Joseph, the Princie, and the Wittelsbach. With its royal lineage, exceptional colour, and rare size, ‘The Golconda Blue’ ranks among the rarest blue diamonds in the world.”

The diamond originates from the famed Golconda mines in present-day Telangana, India—mines that have produced other globally renowned diamonds such as the Koh-i-Noor and the Hope Diamond. The passage of this gem through the hands of Indian royalty adds to its historical significance.

During the 20th century, the diamond was owned by Yashwant Rao Holkar II, Maharaja of Indore, one of modern India’s prominent royal figures. In 1923, it was mounted in a bracelet designed by the French jeweller Chaumet. By the 1930s, the Maharaja’s official jeweller Mauboussin incorporated it into an exquisite necklace known as the ‘Indore Pears,’ alongside two other famous Golconda diamonds.

In 1947, the gem entered the possession of the prominent American jeweller Harry Winston, who transformed it into a brooch paired with another white diamond of similar size. It later became part of the Baroda royal family's collection before eventually passing into private hands.

Currently, ‘The Golconda Blue’ awaits its next owner at an auction scheduled to take place at the Four Seasons Hotel des Bergues in Geneva. It stands among the largest blue diamonds ever to be auctioned. The largest known blue diamond remains the 45.52-carat Hope Diamond, housed at the Smithsonian National Museum of Natural History in Washington, D.C.

The record for the highest auction price paid for a blue diamond is held by the 14.62-carat ‘Oppenheimer Blue,’ which fetched over USD 57.5 million at a Christie’s Geneva auction in May 2016.