We had planned to feature the historic 23-carat Golconda Blue Diamond ahead of its Auction next month, but there is a change in plans! The Golconda Blue once belonged to the Maharajas of Indore and Baroda and could have sold for over $50 million at Christie’s Auction next month, but has now been withdrawn!
The exact origin of the rare 23.24-carat Golconda Blue Diamond, which would have been the largest Fancy Vivid blue diamond ever offered at auction, is unknown but it appeared around 1923, when Maharaja Tukojirao Holkar III of Indore commissioned Chaumet to create a diamond bracelet set with a 23-carat pear-shaped Golconda Blue Diamond from his collection. Just a few years later, the Golconda Blue was reset by his son, Maharaja Yeshwant Rao Holkar
Once owned by an Indian noble, this extraordinary pear-shaped Golconda diamond has a distinguished provenance. Yeshwant Rao Holkar, Maharaja of Indore and a member of the Holkar dynasty, and his wife led a sophisticated, cosmopolitan lifestyle in the 1920s and 1930s. The Maharaja, who was awarded the Order of the Indian Empire, spent much of his time abroad, which led to his interest in Western art, design and jewellery.
The Golconda Blue Diamond was redesigned by Mauboussin into a long necklace with baguette diamonds chain, two emerald cut diamonds, a large octagonal emerald and the two ‘Indore Pears’, which was worn for an iconic portrait of Maharani Sanyogita Bai Holkar by Bernard Boutet de Monvel in 1934, just a few years before her untimely death.
In 1933, Yeshwant Rao Holkar was attracted by Mauboussin’s avant-garde style and appointed him as his royal jeweler. Mauboussin has since recreated many of the Maharaja’s treasures and designed the Golconda Blue and Indore Pears.
Harry Winston purchased the ‘Indore Pears’ from the Maharaja in 1946 and acquired the rare 23-carat Golconda Blue Diamond in January 1947, which he set with another 23-carat white diamond into a brooch and sold it to the Maharaja of Baroda.
Harry Winston later bought the brooch with the Golconda Blue Diamond back, redesigned it, and sold it to its current owner, who have now set it in a ring by designer JAR.
More than a century later, this legendary blue diamond now appears at auction for the first time, as a modern and magnificent ring set by the famous Parisian designer JAR.
Just a few weeks ago, the Golconda Blue Diamond was announced to be the highlight of the upcoming Christie’s Magnificent Jewels Auction at the Four Seasons Hotel des Bergues in Geneva in May 2025.
Christie’s is pleased to present the largest Fancy Vivid blue diamond ever offered at auction, The Golconda Blue . This historic diamond weighs 23.24 carats and is estimated at US$35 million to US$50 million. It will be the lead in Christie’s Magnificent Jewels auction on May 14, 2025 at the Four Seasons Hotel des Bergues in Geneva. Today, “The Golconda Blue” is set into a ring by JAR. Not only is it gorgeous in color and heavy, Christie’s recently discovered that the diamond was once collected by aristocrats. It is a truly extraordinary treasure and one of the rarest and most important diamonds in history.
Rahul Kadakia, International Head of Jewellery at Christie’s, said:
Gemstones of this quality rarely come to auction. Throughout our 259- year history at Christie’s, we have been privileged to offer many of the most historic Golconda diamonds, including the Archduke Joseph , the Princie and the Wittelsbach . The Golconda Blue is one of the rarest blue diamonds in the world, given its aristocratic history, its colour and weight.
The legend of the Golconda Diamond dates back to a fourth-century Sanskrit manuscript. In 327 BC, Alexander the Great brought diamonds from India to Europe, and ever since then the Western world has been fascinated by these rare gems. As early as 1292 AD, Marco Polo also described in detail the stunning beauty of Indian diamonds in his travel notes. Today, The Golconda Blue not only embodies the brilliant miracle of nature, but is also a legendary gem that tells a fascinating story spanning continents, dynasties and centuries.
However, this week, it was announced that the current owners of the Golconda Blue Diamond have withdrawn the Diamond from the Auction and decided to sell it within the family.
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.”
A spokesperson for the auction house further reinforced that it was a personal decision by the diamond’s owner to sell it within the family.
We can confirm that neither tariffs nor any financial market movement was responsible for the change”
