A historic blue diamond once worn by Indian royalty is expected to fetch between $35m and $50m when it goes under the hammer in May.
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 May 14, 2025, at the Four Seasons Hotel des Bergues in Geneva.
