Indian diamond to be toast of NY auction

  • Dipankar De Sarkar, Hindustan Times, London
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  • Updated: Apr 11, 2013 01:31 IST

A huge pink diamond described as “God’s gift to India” will go under the hammer next week in New York and is expected to fetch $30-$40 million (Rs.160-216 crore).

The 34.65-carat beauty, which was once in the possession of the Nizam of Hyderabad, is known as The Princie and is among the four “most important” pink diamonds in the world, said Rahul Kadakia, head of jewellery at Christies, which is auctioning the jewel on April 16.

It is also the world’s third largest pink diamond and is appearing in an auction for the first time in more than 50 years. 

There is a special romance associated with pink diamonds, the finest of which tend to come from India. This one was named after Prince Sayajirao Gaekwad, whose nickname was Princie, by his mother Maharani Sita Devi of Baroda in 1960 at a party in Paris.

“It was a widely regarded belief that God’s gift to India became India’s gift to mankind and The Princie is undoubtedly one of the greatest gifts of Golconda (mines),” Kadakia said.

In 2010, a 24.78-carat pink diamond sold in Switzerland for $45.72 million (Rs. 248 crore).

 

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