$50m Golconda Blue Pulled from Christie's Auction
April 27, 25
(IDEX Online) - The Golconda Blue, a 23.24-carat pear-shaped gem with a high estimate of $50m, has been pulled from Christie's sale in Geneva next month.
The auction house said the (unnamed) owners had decided to sell the stone to a family member, rather than go ahead with the auction.
Christie's had put an estimate of $35m to $50m on the gem, the largest fancy vivid blue diamond ever offered at auction.
But there was speculation it could fetch even more, and break a record set in May 2016 by the Oppenheimer Blue (14.62 carats, VVS1) which sold for $57,541,779 (also at Christie's Geneva).
In a statement Christie's said: "The Golconda Blue's historic provenance, uncovered by Christie's research, has generated considerable market interest and much excitement globally. At this time, the owners have made the decision to pursue a sale of the diamond to a family member. We can confirm that neither tariffs nor any financial market movement was responsible for the change."
The Golconda Blue has been due to headline the Magnificent Jewels sale on 14 May.
When it announced the sale, Rahul Kadakia, Christie's international head of jewelry said: "Exceptional noble gems of this caliber come to market once in a lifetime. With its Royal heritage, extraordinary color, and exceptional size, The Golconda Blue is truly one of the rarest blue diamonds in the world."
It was recovered over a century ago, belonged to Yeshwant Rao Holkar II (1908-1961), the last Maharaja of Indore, and was first set by the iconic Harry Winston as a brooch with a matching white diamond. It was subsequently re-set by the Parisian designer JAR as a striking contemporary ring.
Pic courtesy Christie's shows the Golconda Blue.