Historic 'Golconda Blue' diamond, once owned by Indian Maharajas, set for ₹300 crore auction

A rare gem steeped in royal Indian heritage is set to turn heads at an upcoming auction in Geneva. Known as The Golconda Blue, this vivid blue diamond, once owned by the Maharajas of Indore and Baroda, will go under the hammer at Christie’s 'Magnificent Jewels' auction on May 14. The diamond is expected to fetch between $35 million and $50 million, roughly ₹300 to ₹430 crore.

Weighing 23.24 carats, The Golconda Blue is mounted in a sleek contemporary ring designed by Parisian master jeweler JAR. Its impeccable origin and exceptional color make it one of the rarest blue diamonds in the world. With a history that spans centuries and continents, the diamond reflects India’s rich and glittering legacy in the world of precious stones.

The stone’s origins trace back to the Golconda mines of present-day Telangana, which also gave the world iconic gems like the Koh-i-Noor and the Hope Diamond. Its journey into royalty began when it was acquired by Maharaja Yeshwant Rao Holkar II of Indore in the early 20th century. It was first set into a Chaumet bracelet in 1923, then later part of an opulent necklace crafted by Mauboussin alongside the famous "Indore Pears."

The Maharaja’s royal collection, immortalized in paintings and photographs of the era, was a fusion of Indian tradition and Western luxury. By the 1940s, the diamond had traveled to the United States, where legendary jeweler Harry Winston repurposed it into a brooch. It eventually returned to India, becoming part of the Baroda royal family’s collection before being acquired by private hands.

Now, as it reemerges on the world stage, The Golconda Blue promises to captivate collectors and historians alike. Its legacy stands alongside blue diamond legends such as the Oppenheimer Blue (14.62 carats, sold for $57.5 million in 2016) and the De Beers Blue (15.10 carats, sold for $57.4 million in 2022).

Christie’s has called the diamond a “once-in-a-lifetime” auction piece — a testament to its combination of royal provenance, historic importance, and exquisite beauty. The sale will take place at the Four Seasons Hotel des Bergues in Geneva, where global collectors will vie for this slice of India’s regal past.