Nizam of Hyderabad’s ‘Princie’ Pink Diamond sells for nearly $40 million

Andrea Divirgilio / April 18, 2013

Diamonds are a woman’s best friend, but they also are highly cherished item amongst jewelry collectors, as we noticed recently. A rare pink diamond, known to have it’s origins in the Golconda mines of South-Central India, and which was a part of the Nizam of Hyderabad’s collection, sold at a record breaking price of $39.32 million. The coveted stone weighs a sizable 34.65 carats, and bears what specialists would call a cushion cut stone. Also, the sale price of the ‘Princie’, also makes it most expensive Golconda diamond ever sold at an auction by Christie’s. Initially offered for sale by the Nizam himself, this pink diamond will now be placed in rank right after the ‘The Graffe Pink’ diamond, which exchanged hands for a little over $46 million, at a Sotheby’s auction 3 years ago.

The 'Princie' pink diamond once owned by the Nizam of Hyderbad in India

Without an iota of doubt about the status of the ‘Princie’ amongst the world’s largest pink diamonds, it is obvious but to draw parallels to some of the similarities between those diamonds and this one. A large size, polish and shaping as per desire, rare color and quality, and a noble history to go with it seem to be the main commonalities. Known to have it’s origins in the Golconda mines of South Central India, it was offered for sale in 1960, as the ‘Property of a gentleman’ by the Nizam of Hyderabad. The London branch of Van Cleef & Arpels bought it for a sum of $70,158 back then. A following celebration party was then held, which included guests like the then 14-year old Prince of Baroda, Sayajirao Gaekwad, and his mother, Maharani Sita Devi. Thus, in honor of the young prince, the ‘Princie’ pink diamond got it’s name, when the event took place at the Paris store of Van Cleef & Arpels.

Via: Christie’s

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