News

Pink Diamond Sells For 39.3 Million Dollars At Christie's New York City Auction House

By Staff Writer | April 18, 2013 05:58 PM EDT

Pink Diamond sells for $39 million at Christie's NYC auction house
(Photo : flickr/ fancy diamonds)

NEW YORK -- A rare pink diamond, from the mines of Golconda in South India and once owned by Indian royalty, has sold for $39.3 million at Christie's auction in New York City.

Selling for $39,323,750 with premium means it costs $1,135,000 per carat! 

The price for the 34.65-carat diamond that sold at Christie's on Tuesday was the second highest ever for a jewel sold at auction. Unfortuantely, the seller and buyer were anonymous.  I would love to know who's carrying around that kind of money.

Like Us on Facebook

The buyer purchased the Diamond at Christies, making the bid over the telephone to protect his anonymity.

The gem is "one of the largest and finest pink diamonds in the world" with a "fabulous provenance," Christie's jeweler chief, Francois Curiel said.

Though the people involved aren't known, the diamond certainly is. The gem, nicknamed the Princie Diamond, was discovered 300 years ago in the Golconda mines in India.

It once belonged to the Nizam of Hyderabad, an Indian prince that ruled the wealthiest provinces of the Mughal Empire.  The Nazim had 149 children and was named the richest man in the world ranked by Time magazine in 1937. Around the time of India's independence, the Nizam lost power and needed funds. He sold the Princie through Sotheby's to an unidentified buyer.

The diamond was in then in possession of Italian senator Renato Angiolillo. 

In 1960, the diamond was purchased at auction by the London branch of the jeweler Van Cleef & Arpels. The exclusive jewelery firm originally paid 46,000 pounds for it, equivalent to $1.3 million today, Christie's said, indicating a hefty profit after Tuesday's sale.

Its name was given at a party at the firm's Paris store. It was called Princie in honor of the 14-year-old prince of Baroda, who attended the party with his mother, Maharani Sita Devi.

Bidders paid more than $80 million for the jewels at the New York auction, including just under $4.5 million for a 30.32 carat rectangular cut D color diamond and $3.3 million for a Harry Winston diamond ring.

Previously, the most paid at Christie's for a diamond was $24.3 million, for the 31-carat Wittelsbach diamond in 2008.

Featured Video : KIM JAEJOONG LAST DRAMA

Tagged :  world news

Featured

Comeback / Teaser / Music Video 08.22.14 | 01:12PM EDT

Taeyeon's Relationship With EXO's Baekhyun Will Not Be Revealed On TaeTiSeo's Reality Program

Whether you're a fan of TaeTiSeo or Taeyeon, one thing fans will not be seeing on the girl group's upcoming reality show is EXO's Baekhyun.

Editorial 08.22.14 | 07:17AM EDT

Super Junior’s Wonderful & Slightly Strange Comeback Concepts

Super Junior has had some interesting concepts since their debut in 2005.

Features 08.21.14 | 07:51PM EDT

2PM's Nichkhun Passes On Ice Bucket Challenge, Opts To Donate

Nichkhun has a problem with the apparent frivolous waste of water.

Editorial 08.21.14 | 08:30AM EDT

5 Unforgettable Concepts in K-Pop History

Some of of the most eye catching concepts in the history of K-Pop!

KpopStarz Is Looking For Enthusiastic Entertainment Contributors Reach Millions On The Web
Real Time Analytics