AUCTION Princie Diamond from Golconda mines sets a new record

A34.65 carat fancy intense pink diamond known as Princie Diamond set a new record high at Christie’s New York on April 16, selling for USD 39,323,750 . The diamond — a cushion-cut sparkler that originated from the ancient Golconda mines in South Central India — was purchased by an anonymous collector bidding by phone.

The sale price represents a new record for any jewel sold at Christie’s, surpassing the previous house record of USD 24.3 million set in December 2008 with the sale of the Wittelsbach Diamond. Among important large diamonds, the Princie possesses all of the most desirable qualities today’s collectors seek in diamonds — large size, desirable shape and polish, exceptional colour and quality, Golconda origins, and a noble history. It was first recorded in the holdings of the Royal family of Hyderabad, rulers of one of the wealthiest provinces of the Moghul Empire. The diamond’s unique name was bestowed at a party at the firm’s Paris store, where it was christened the “Princie” in honour of the 14-year-old Prince of Baroda, who attended the party with his mother Maharani Sita Devi.