‘Princie Diamond’ expected to fetch $30-$40M

Princie Diamond’ expected to fetch $30-$40M

By National Jeweler

New York--Christie’s New York is poised to sell the largest fancy intense pink Golconda diamond ever offered at auction when the “Princie Diamond” goes up for bid on April 16.

The Princie is a 34.65-carat fancy intense pink cushion-cut diamond whose origin can be traced to the ancient Golconda mines in south central India. The stone was first recorded as belonging to the royal family of Hyderabad, who ruled one of the wealthiest provinces of the Mughal Empire.

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<-Side view of the Princie Diamond

First offered at auction in 1960 by the Nizam of Hyderabad, the London branch of Van Cleef & Arpels purchased the Princie Diamond for £46,000 (approximately $69,588 in today’s currency).

The diamond got its name at a party at Van Cleef’s Paris store, where it was christened in honor of the 14-year-old Prince of Baroda, who attended the gathering.

This is the first time in 50 years that the diamond has appeared at auction, and Christie’s expects it to “achieve in the region of $30 million to $40 million.”

“One of the largest and finest pink diamonds in the world, the Princie Diamond carries a fabulous provenance. The rich history, combined with its rare pink hue, conveys a special charm, which will speak to all collectors in the world seeking the best of the best in gemstones,” said Francois Curiel, chairman of Christie’s jewelry department.

The Princie Diamond is part of Christie’s sale of Magnificent Jewels, which will offer nearly 300 pieces, from colored and colorless diamonds to gemstones, natural pearls and signed vintage jewelry.

Among the lots will be curated private collections such as the “Property of an Elegant Lady,” which includes a diamond cluster necklace of more than 160 carats by William Goldberg (below). The necklace is expected to sell for as much as $2.5 million.

An emerald and diamond necklace by Harry Winston (below), included in the “Property of a Distinguished American” collection, has a pre-sale high estimate of $1.2 million.

A three-strand natural pearl necklace, diamond rings, and pieces with Burmese rubies and Colombian emeralds also will be offered at the sale.

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“We have compiled a superb selection of colorless diamonds, beautiful vintage jewels from the best houses, and rare natural pearls, which are experiencing a remarkable surge at auction. Collectors continue to enjoy being part of a vibrant auction market both as sellers and buyers of rare jewels,” said Rahul Kadakia, head of jewelry for Christie’s America’s and Christie’s Switzerland.

Additional information about the Magnificent Jewels sale is on Christie’s website.