Hyderabad: The Golconda Blue, a rare 23-carat diamond from Hyderabad, is likely to fetch Rs 430 crore in an auction in Geneva, Switzerland.

The auction will be held on May 14. Mounted in a contemporary ring by acclaimed Parisian designer JAR, the gem is expected to fetch between USD 35 and 50 million (approximately Rs 300–430 crore). The diamond was once owned by the royals of Indore and Baroda.

“With its Royal heritage, extraordinary colour, and exceptional size, ‘The Golconda Blue’ is truly one of the rarest blue diamonds in the world,” Rahul Kadakia, Christie’s International head of Jewellery,” said in a statement.

History of the Golconda Blue

The history of the diamond dates back to a 4th-century Sanskrit manuscript. In 327 BC, Alexander the Great brought diamonds from India to Europe, sparking the West’s enduring fascination with these rare gems. By 1292 AD, Marco Polo chronicled the beauty of Indian diamonds in his travel writings.

The diamond’s roots trace back to the famed Golconda mines of present-day Telangana-legendary for yielding some of the world’s most celebrated diamonds, including the Koh-i-Noor and the Hope Diamond. What makes this stone particularly compelling for Indian collectors and history enthusiasts is its illustrious lineage through Indian royalty.

Once part of the treasured collection of Maharaja Yeshwant Rao Holkar 2 of Indore – one of the most stylish and forward-thinking Indian rulers of the 20th century – the stone was originally set in a bracelet by French jeweller Chaumet in 1923. The Maharaja’s father commissioned the piece after acquiring the equally famous “Indore Pears,” two other Golconda diamonds of note.

In the 1930s, the Golconda Blue was added to a 4th-century Sanskrit manuscript. In 327 BC, Alexander the Great brought diamonds from India to Europe, sparking the West’s enduring fascination with these rare gems. By 1292 AD, Marco Polo chronicled the beauty of Indian diamonds in his travel writings.

The diamond’s roots trace back to the famed Golconda mines of present-day Telangana-legendary for yielding some of the world’s most celebrated diamonds, including the Koh-i-Noor and the Hope Diamond. What makes this stone particularly compelling for Indian collectors and history enthusiasts is its illustrious lineage through Indian royalty.

Once part of the treasured collection of Maharaja Yeshwant Rao Holkar II of Indore – one of the most stylish and forward-thinking Indian rulers of the 20th century – the stone was originally set in a bracelet by French jeweller Chaumet in 1923. The Maharaja’s father commissioned the piece after acquiring the equally famous “Indore Pears,” two other Golconda diamonds of note.