Latest news with #GolcondaBlue
Time of India
14-05-2025
- Science
- Time of India
Ready to rock: How India could rule the diamond world again
A super rare blue diamond called the Mediterranean Blue was just sold for a huge $21.5 million – and it only took two and a half minutes! But there was another blue diamond, the Golconda Blue, that was even more special. It came from India and used to belong to a king! It didn't sell, but experts thought it could have gone for up to $50 million. Why are blue diamonds such a big deal? First, they're super rare – even more rare than seeing a blue moon! And second, they're formed deep under the Earth, about 600 kilometers down, where it's really hot and has super high pressure – kind of like a mini nuclear explosion. That's also why they're so hard to find. The blue color comes from a chemical called boron, and it makes the diamond look amazing. Now here's the cool part: diamonds don't always have to come from the ground anymore. Scientists can make diamonds in a lab, and they look just like the real thing! Even India's Prime Minister gave a lab-grown diamond to the U.S. President as a gift! India used to have the most diamonds in the world until the 1800s. Now, most diamonds are still cut and polished in India, but not many are mined here anymore. That's where lab-grown diamonds come in. They're real diamonds, just made by people instead of nature. They're also cheaper and better for the environment! And guess what? These lab-grown diamonds can come in any color you want – even black. So while some people still want the 'real' ones from the Earth, lab-grown diamonds might be the future. And that future could shine bright for India once again. Facebook Twitter Linkedin Email Disclaimer Views expressed above are the author's own.
Time of India
14-05-2025
- Business
- Time of India
Ready To Rock
India had a diamond monopoly in ancient times, lab-grown diamonds can restore it Blue diamonds, which are rarer than blue moons, made headlines twice in the past three weeks. First, when Christie's cancelled the auction of 'Golconda Blue' in April, and again on Tuesday when Sotheby's sold 'Mediterranean Blue' for $21.5mn in 2.5 minutes. Of the two, GB was the real deal. Mined in India, it had belonged to the Maharaja of Indore once, and was expected to fetch up to $50mn. Not because it was a fistful – 23ct is less than 5g; Ranjit Singh's Kohinoor weighed 191ct – but because it was the biggest blue diamond ever on the market. South Africa-mined MB, on the other hand, weighs a less atypical 10.3ct or 2g. All diamonds are special, but blue ones more so because they are born 600km under your feet, where temperature and pressure are so high it's like being in the middle of a nuclear explosion. Actually, nuclear explosions have been known to form 'nanodiamonds', but they're not worth the risk. As for the blue colour, it comes from traces of boron – the same chemical that an Egyptian plane was rumoured to have brought to Kirana Hills after the rumoured nuclear leak at its rumoured nuke silo after a rumoured Indian strike last Saturday What's not rumoured but certain is that the future of diamonds lies in labs, not underground. Although manmade diamonds have been around since the 1950s, Modi's gift of a 7.5ct lab-grown green diamond to the Bidens two years ago declared India's intent of causing a major upset in the market. Nine of every 10 diamonds are polished in India. Eight of every 10 diamond traders in Antwerp, Belgium – global hub of diamond trade – are Gujaratis. What we don't have anymore – despite a monopoly till the 1830s – is enough diamond mining. But lab-grown diamonds, which are indistinguishable from Kohinoor and Golconda Blue without deep chemical analysis, and far cheaper, can fill that gap. Diamond snobs might still demand the 'real' thing, but don't bet on it because manmade diamonds, with their relatively tiny carbon footprint, may be more flaunt-able. Besides, they'll be available in any colour you want, even if it's black. Facebook Twitter Linkedin Email This piece appeared as an editorial opinion in the print edition of The Times of India.
Indian Express
30-04-2025
- Business
- Indian Express
The story of Golconda Blue, and of India's once-legendary diamonds in Golconda
Christie's has pulled the 23.24 carat Golconda Blue, 'the largest Fancy Vivid Blue Diamond ever to be offered at auction' after 'the owners…made the decision to pursue a sale of the diamond to a family member'. The diamond, according to the British auction house 'among the rarest and most important…ever discovered throughout history', had been expected to fetch $35 million to $50 million at an auction in Geneva on May 14. Diamonds, the hardest of naturally occurring substances, are composed entirely of carbon, and formed under great heat and pressure below the Earth's surface. Their rarity, difficulty in extracting them, and the skill required to cut and polish them for jewellery, have historically made diamonds exclusive and expensive. What is the Golconda Blue? According to Christie's, the blue diamond belonged to Yeshwant Rao Holkar (1908-62), the Maharaja of Indore, who, along with his wife Sanyogitabai Devi, often collected paintings, jewellery, and other fine goods in Europe. In 1923, Yeshwant Rao's father visited the French luxury jewellery company Chaumet to commission a diamond bracelet set with the 23-carat, pear-shaped Golconda Blue. A decade later, Yeshwant Rao commissioned the French brand Mauboussin to set the gem in a necklace that was later worn by his wife. In 1947, the American jeweller Harry Winston bought the blue diamond, sold it briefly to the Maharaja of Baroda, reacquired it, and sold it to the current owner, whom Christie's did not name. The gems of India Rahul Kadakia, Christie's International Head of Jewellery, listed other Golconda diamonds auctioned by them, such as the 78.54 carat Archduke Joseph. Some of the world's most famous diamonds, such as the Koh-i-Noor and the pale pink Darya-i-Nur, were mined in Golconda. According to Christie's, the West's enduring fascination with diamonds began after Alexander brought back the gems to Europe from India in 327 BC. The Venetian Marco Polo wrote in 1292: 'No country but India produces diamonds. Those which are brought to our part of the world are only the refuse, as it were, of the finer and larger stones… In truth they (India) possess all the treasures of the world.' In his book, Diamonds: An Early History of the King of Gems (2018), the British jewellery historian Jack Ogden wrote that until the 1600s, India was by far the most important, if not the only, source of diamonds for the Mediterranean and European worlds. It is difficult to ascertain the exact date when the Golconda trade began, but there are records of Chinese, Filipino, Arab, and Jewish traders looking to India for the gems. Indian diamond markets included Ahmedabad and Goa, and although the stone was also mined in places such as the Panna diamond belt in Madhya Pradesh, Golconda remained the major trading centre, mentioned by travellers throughout history. The French merchant Jean-Baptiste Tavernier (1605-89) wrote that diamond mining in the Golconda district grew at an explosive rate in the mid-17th century. At the Kollur mine, 60,000 diggers and washers were employed. The French traveller Jean de Thévenot (1633-77) noted there was no uniformity in diamond prices, and the king at the time established a monopoly in mining. 'The French Catholic physician Gabriel Dellon, who traveled to India in the late 1660s, noted, 'Suratte (Surat) is a place of great Commerce; Their Diamonds are brought thither out of the Kingdom of Golconda',' Ogden wrote. Dimming allure The discovery of diamonds in Brazil in the 18th century eclipsed India's industry, Ogden wrote. 'It is noted that the output of Indian diamonds in the century or so prior to the discovery of the diamonds in Brazil has been estimated at anything between about 5,000 and 50,000 carats a year. The 1731 fleet from Brazil to Portugal is supposed to have carried no less than 100,000 carats; two years later it was 300,000,' he said. Today, Africa, Australia, and Russia are some of the key players in the diamond industry. In the world of jewellery, gold is seen as a better alternative with value as a long-term investment. 'Blood diamonds', mined in conflict zones or using child labour, have dimmed their shine. Lab-grown diamonds have emerged as a cheaper and more ethical alternative. And yet, as Christie's noted: 'It is Golconda diamonds — with their incomparable quality, mystery and romance, sought by royal houses all over the world — which still reign supreme among gem connoisseurs.'
Indian Express
28-04-2025
- Business
- Indian Express
The Golconda Blue Diamond withdrawn from auction
Days before it was to come under the hammer at a Christie's sale in Geneva on May 14, the Golconda Blue — the largest known vivid blue diamond, with Indian origins — has been withdrawn from the auction. Its owner has, reportedly, decided to sell it within the family. The highlight of the Christie's Magnificent Jewels sale, the 23.24 carat pear-shaped diamond, once belonged to Yeshwant Rao Holkar, the Maharaja of Indore. In 1923, his father had commissioned the French luxury jewellery house Chaumet to set it in a diamond bracelet. In the '30s, Yeshwant Rao appointed jewellery company Mauboussin to put it in a necklace with Indore Pears, a piece that was also worn by the Maharani of Indore for a portrait by French artist Bernard Boutet. Sanyogitabai Devi of Indore (1914-1937), H.H. The Maharani of Indore painted by Bernard Boutet de Monvel in 1934 (courtesy: Christie's) In the 1940s, American luxury jeweller Harry Winston purchased the diamond and reportedly set it with another 23-carat white diamond in a brooch and sold it to the then Maharaja of Baroda, from whom he bought it back and resold it to its current owner, who has now set it in a ring by jewellery designer Joel Arthur Rosenthal (known as 'JAR'). According to a release issued by Christie's, 'The legacy of Golconda diamonds begins with a reference found in 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 famously chronicled the captivating beauty of Indian diamonds in his travel writings. The Golgonda Blue, a Fancy vivid blue pear shaped diamond of 23.24 carats, setting by JAR, estimate $35- 50 million (courtesy: Christie's) In the release, Rahul Kadakia, Christie's International Head of Jewellery, states: 'Exceptional noble gems of this calibre come to market once in a lifetime. Throughout its 259-year history, Christie's has offered 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.'
News18
28-04-2025
- Business
- News18
Rare 'Golconda Blue' Diamond, Once Owned By Ruler Of Indore, Set For Auction At Christie's In May
The 23.24-carat Golconda Blue diamond, once owned by Indore's Maharaja Yeshwant Rao Holkar, is set for auction at Christie's with an expected price of $35–$50 million. A rare Golconda vivid blue diamond is set to be auctioned at Christie's on May 14. The gem was once owned by the Maharaja of Indore, Yeshwant Rao Holkar. Various reports suggest the diamond, named 'Golconda Blue', weighs in at over 23-carats and its sale is expected to set a record at $35 to $50 million. According to Forbes, if the 23.24-carat diamond went to auction, it would be the largest fancy blue diamond to have been presented at a public sale. In a report, First Post quoted Christie's and stated Yeshwant Rao Holkar's father, Tukoji Rao Holkar III – the then ruler of Indore, obtained the popular Indore Pear diamonds from the French luxury jewellery and watch house, Chaumet, in 1913. Ten years later, Tukoji commissioned Chaumet to set his pear-shaped Golconda blue diamond into a bracelet, it stated. The Golconda Blue, the largest fancy vivid blue diamond ever to come to auction, is set to headline the Christie's Magnificent Jewels sale next month. The auction house estimates it will sell for $35 million to $50 million — Reuters (@Reuters) April 14, 2025 In 1933, Holkar appointed the Parisian jewellery house Mauboussin as his official jeweller. The French company redesigned the Indore king's royal collection and created a long flowing necklace for both the Golconda Blue and the Indore Pears, the report claimed. He acquired the diamond in January 1947 and then set it in a brooch alongside a similar white diamond weighing 23 carats. The famed jeweller later sold the brooch to the Maharaja of Baroda, the report quoted Phillips Auction House. Winston then reacquired the brooch and resold it as a newly designed jewel, ending the blue diamond's journey with the Indian royalty, according to the report. The Forbes said Christie's provided a brief statement saying the unidentified owners of the rare gem decided to sell it within the family. The statement reads: '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," the spokesperson told Forbes.
