India’s Princie Pink Diamond Sets Record Auction at $39.3M

One of the world’s largest pink diamonds, a 34.65-carat cushion-cut Princie Diamond sold for more than $39.3M at the Christie’s New York auction Tuesday.

It beat Christie’s highest house record of $24M for the sale of the Wittelsbach Diamond, a diamond of a rare deep blue color set in December 2008.

The Princie Diamond was won over by an anonymous bidder through a phone call.

The diamond originated from the ancient diamond mines in Golconda, Southern India, where all of the world’s top pink diamonds have been found. It was first recorded as a property of the Royal Family of Hyderabad, rulers of the richest provinces of Mughal, India.

According to Rahul Kadakia, Christie’s Head of Jewelry, a major event took place in the international auction industry with the recent record-breaking sale of the Princie Diamond.

Kadakia also said that aside from Christie’s sale of actress Elizabeth Taylor’s Collection, the Princie Diamond sale is the most successful jewelry auction ever held in the US.

According to Christie’s, the Princie Diamond, discovered around 300 years ago in the famous mines of Golconda is believed to be the world’s third largest pink diamond.

Sources: bbc.co.uk, forbes.com