'The Golconda Blue': Iconic Indian royal diamond to go under the hammer for first time

New Delhi: A rare piece of India’s royal heritage, 'The Golconda Blue' -- a historic diamond once owned by the Maharajas of Indore and Baroda -- is set to make its auction debut at the Christie's "Magnificent Jewels" sale in Geneva on May 14.

The 23.24-carat vivid blue diamond, mounted in a striking modern ring by celebrated Parisian designer JAR, is expected to fetch an estimated value between $35 and $50 million (Rs 300 – Rs 430 crore).

"Exceptional noble gems of this caliber come to market once in a lifetime. Over the course of its 259-year history, Christie’s has had the honor of offering some of the world’s most important Golconda diamonds, including the Archduke Joseph, the Princie, and the Wittelsbach.

"With its Royal heritage, extraordinary color, and exceptional size, 'The Golconda Blue' is truly one of the rarest blue diamonds in the world," Rahul Kadakia, Christie's International head of Jewelry, said in a statement.

Hailed as one of the most important and rarest blue diamonds ever discovered, what makes the auction more significant for Indian audiences is its direct lineage to Indian royalty -- and its origins in the legendary Golconda mines of present-day Telangana, renowned for producing the world’s most iconic diamonds.

According to Christie’s, 'The Golconda Blue' once belonged to Maharaja Yeshwant Rao Holkar II of Indore, a modernist monarch celebrated for his refined taste and cosmopolitan lifestyle during the 1920s and ’30s.

In 1923, the Maharaja's father commissioned a bracelet featuring this extraordinary blue diamond from the French house Chaumet, after he had earlier acquired the famed "Indore Pears" -- the two significant Golconda diamonds -- from the same jeweller, they informed.

A decade later, the Maharaja appointed Mauboussin as his official jeweler, who redesigned the royal collection and incorporated 'The Golconda Blue' into a striking necklace alongside the famed Indore Pear diamonds.

The piece was immortalised in a portrait of the Maharani of Indore by French painter Bernard Boutet de Monvel, capturing a moment of Indo-European elegance at its peak.

In 1947, the diamond was acquired by famed New York jeweler Harry Winston, who set it in a brooch with a matching white diamond of equal size. That brooch later found its way to the Maharaja of Baroda, continuing its journey through India’s royal lineage before passing into private hands.

The live auction will take place at the Four Seasons Hotel des Bergues in Geneva.