Royal blue diamond could return $80 million at auction

A remarkably rare fancy colour blue diamond with a fascinating backstory will headline an upcoming auction in Geneva, entering the event with an incredible presale estimate.

At the Magnificent Jewels sale on 14 May at Christie’s in Geneva, the Golconda Blue will hit the auction block.

The 23.24-carat fancy vivid blue diamond is said to be the largest to ever appear at auction and will have an upper presale estimate of around $USD50 million ($AUD79.7 million).

The Golconda Blue once belonged to Yeshwant Rao Holkar, the maharaja of Indore and a member of the Holkar dynasty. Harry Winston purchased the diamond in 1947, and it has since been sold twice.

"Exceptional noble gems of this calibre come to market once in a lifetime."
Rahul Kadakia, Christie’s

The diamond, currently mounted in a ring by designer JAR, will now appear at auction for the first time. Rahul Kadakia, international head of jewellery at Christie’s, said this was a historic occasion.

“Exceptional noble gems of this calibre come to market once in a lifetime,” he said.

“Over the course of its 259-year history, Christie’s has had the honour 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 colour, and exceptional size, the Golconda Blue is truly one of the rarest blue diamonds in the world.”

In the lead-up to the 14 May auction, the diamond will be exhibited in Hong Kong, Bangkok, and New York.