The Golconda Blue Diamond pulled from auction; what's so special about the gemstone?

The Golconda Blue Diamond is in the middle of some drama. The jewellery world was abuzz with anticipation for Christie's upcoming auction of the 23.24-carat Golconda Blue Diamond, until it's owners withdrew it from the May 2025 sale at the last minute.

The owners decided not to auction the diamond

Estimated at $35-50 million, the Golconda Blue Diamond would have been the largest blue diamond of its quality ever offered at auction, presented in a stunning ring by legendary Parisian jeweller JAR (Joel Arthur Rosenthal).

The owners decided to sell it within their family instead. Christie's confirmed this was a personal decision, unrelated to market conditions, leaving collectors and historians to ponder the future of this extraordinary gem.

Where do Golkonda diamonds come from?

The name "Golconda" carries weight in gemology. These diamonds originated from ancient mines near Hyderabad, India - the original source of legendary stones like the Koh-i-Noor and Hope Diamond.

What makes them special?

• Golconda diamonds are Type IIa - the purest form of diamonds with no nitrogen impurities

• They were mined as early as 4th century BCE and traded globally

• These gems are linked to royals. They were treasured by Mughal emperors and Indian maharajas

The Golconda Blue represents the pinnacle of this legacy - a 23-carat blue diamond with a provenance spanning centuries.

History of Golconda diamond

The stone's documented history begins in 1923, when Maharaja Tukojirao Holkar III of Indore had it set in a bracelet by French jeweler Chaumet. His son Yeshwant Rao Holkar later transformed it into a magnificent Mauboussin necklace featuring the Indore Pear diamonds.

It was eventually worn by Maharani Sanyogitabai Devi in a famous 1934 portrait.

In 1947, Harry Winston acquired the diamond, creating a brooch paired with a matching white diamond for the Maharaja of Baroda. After changing hands several times, it was reimagined as a JAR ring for its current owner.

Why does this diamond matters?

Before its withdrawal, experts called the Golconda Blue "one of the rarest diamonds in existence" because:

1. Size matters: At 23.24 carats, it's exceptionally large for a blue diamond

2. Perfect color: The coveted Fancy Vivid blue grade

3. Royal pedigree: A centuries-spanning journey from Indian royalty to modern collectors

As Rahul Kadakia of Christie's noted: "The Golconda Blue bridges continents, dynasties, and centuries - it's a true historic treasure."

What's Next?

While the diamond's public debut was cancelled, its legacy remains intact. Whether it resurfaces someday or stays privately held, the Golconda Blue stands as a shining testament to India's gemological heritage - a stone that has enchanted kings, inspired artists, and captivated collectors across generations.

For now, the world can only wonder: Will this royal jewel ever grace the public stage again?