A rare pink diamond with links to India's historic Golconda mines has sold for $14.8 million (approximately Rs 124 crore) at a jewellery auction in Geneva, Switzerland. Known as the Bulgari Pink, the 24-carat gemstone was the headline lot at Christie's Magnificent Jewels sale on November 10, attracting interest after remaining out of public view for more than seven decades.
The diamond fetched 12.086 million Swiss francs, equivalent to $14,809,761, within its pre-sale estimate of 10 million to 15 million Swiss francs. Christie's described the sale as a significant moment for the rare gemstone, which had not appeared on the market for more than 70 years.
Speaking in an interview ahead of the auction, Max Fawcett, Christie's global head of jewellery, described the gemstone as the 'Mona Lisa of pink diamonds'.
The 24-carat diamond features an emerald cut and has a Fancy Intense Pink colour grading. It is also classified as a Type IIa diamond, a rare category known for having extremely low levels of nitrogen impurities.
The stone was mounted in a platinum ring by Italian luxury jewellery house Bulgari after being cut and polished in Rome.
The Bulgari Pink's history can be traced to India in the 1950s. According to Christie's, the great-grandparents of the consignor, or seller, acquired the diamond in its rough form in India. The stone was then taken to Rome, where Bulgari transformed it into the finished ring.
The diamond is believed to have originated in the Golconda region of southern India, historically known for producing some of the world's most celebrated gemstones. The region is associated with diamonds such as the Koh-i-Noor and the Hope Diamond.
After its acquisition and transformation by Bulgari, the pink diamond remained within the same European family for around 70 years.
The Christie's Magnificent Jewels sale also featured a private collection of nearly 300 pieces of 20th-century jewellery. The included designs from prominent luxury houses such as Cartier, Graff and Bulgari.
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