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Geneva: Indian diamond fetches 16.9 million euros at auction

Press Trust of India
Nov 14, 2012 at 01:48pm IST

London: A 76-carat flawless diamond from India's famous Golconda mines broke world record by fetching a whooping 16.9 million euros (Rs 1,18,16,98,700) at an auction in Geneva. The cushion shaped diamond of perfect D colour from the ancient mines, where the famous Koh-i-Noor and Blue Hope diamond originated, fetched a record price at an auction late last night, Guardian reported quoting an announcement by the Christie's.

"It is a world record for a Golconda diamond and a world record price per carat for a colourless diamond. It is comparable in its noble lineage and superb quality to the legendary Koh-i-noor," Francois Curiel, director of the international jewellery department at Christie's said, adding that it was sold to an anonymous bidder and may apparently be on its way to a museum.

The rare colourless diamond, weighing 76-carat was named after Austria's Archduke Joseph August, a prince of the Hungarian line of the Hapsburgs, who reportedly deposited it in a bank vault in 1933. "Three years later it was sold to a European banker, and kept in France, locked away in a safe deposit box, where fortunately it remained undiscovered during the second world war," the auction house said.

Indian diamond fetches 16.9 mn euros at auction

The rare colourless diamond, weighing 76-carat was named after Austria's Archduke Joseph August.

It surfaced at auction in 1961 and again at Christie's in November 1993, netting 4 million euros at the time. The stone was subsequently "slightly recut".

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