Princie Diamond

Princie Diamond
Weight 34.65 carats (6.930 g)
Color Intense Pink
Cut Cushion-cut
Country of origin India
Mine of origin Golconda mines
Estimated value US $40 million

The Princie Diamond is an approximately 34.65 carat cushion-cut fancy intense pink diamond[1] discovered 300 years ago in the Golconda mines. Christie's (who auctioned it on 16 April 2013, when it fetched a price of 39.3 million dollars[2]) say that the Princie Diamond is believed to be the third largest pink diamond in the world after the Daria-i-Noor (ca. 175 to 195 carats) the Noor-ol-Ain (ca. 60 carats) which are both part of the Iranian Crown Jewels but which were both cut, according to experts, from one single ca 242 carat pink diamond.,[3] and the Pink Star (formerly known as the Steinmetz Pink), a diamond weighing 59.60 carats.

Physical properties

The Gemological Institute of America characterizes the Princie Diamond as fancy intense pink, natural color, VS2 clarity, Type IIa. The Princie diamond is at this time the largest Golconda-type fancy intense pink diamond ever to be graded at the Gemological Institute of America.[1] The Princie also has the property that when exposed to ultraviolet light it displays bright orangey-red fluorescence. According to the Gemological Institute of America this kind of reaction to ultraviolet light is typical of diamonds of Indian origin. Of more than 7 million diamonds that have gone through the Gemological Institute of America's laboratory, no more than 40 exhibited this phenomenon and the Princie is the largest pink diamond that possesses it[4][5]

History

The diamond was discovered about 300 years ago in the Golconda mines. Long before it was known as the "Princie" or by any other name it belonged to the royal family (Nizams) of Hyderabad, its first known owners. The then Nizam of Hyderabad had it auctioned in 1960 at Sotheby's. It was bought by the London branch of the jewelers Van Cleef & Arpels for 46,000 British pounds. It was then sent to their Paris store where it was named "Princie" by Pierre Arpels in honor of the fourteen-year-old son of Sita Devi, the Maharanee of Baroda, Sayajirao Gaekwad (1945-1985). The diamond had not gone to auction or been seen in public since 1960.[4]

2013 auction

It was auctioned by Christie's in New York on 16 April 2013 for what was a record-breaking price and was expected to sell for more than 45 million dollars.[6] In the event it only fetched 39.3 million dollars which is still a record breaking price. It sets the record for being the most valuable Golconda mine diamond ever sold at auction and the highest price for any jewel sold at Christie's, surpassing the previous house record of 24.4 million dollar set in December 2008 with the sale of the Wittelsbach Diamond.[2] It was purchased by an anonymous collector bidding by phone.

References

  1. 1 2 "Art Gallery | Online Auction Viewing of furniture, jewelry, watches, musical instruments and fine art | MAGNIFICENT JEWELS AND THE PRINCIE DIAMOND". Christies.com. Retrieved 2013-09-05.
  2. 1 2 "34-Carat Princie Diamond Fetches Nearly $40 Million, Setting Two Records". Forbes. 2013-04-16. Retrieved 2013-09-05.
  3. ↑ Thus the Princie is in fact the third largest pink diamond ever found if one considers weight at discovery
  4. 1 2 "THE PRINCIE DIAMOND | Jewelry Auction | unmounted, diamond | Christie's". Christies.com. 2013-04-16. Retrieved 2013-09-05.
  5. ↑ Among those diamonds that have gone through the G.I.A.'s lab
  6. ↑ "BBC News - Princie Diamond: Rare Indian gem sells for $39m". Bbc.co.uk. 2013-04-17. Retrieved 2013-09-05.
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