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! 

Like Us on Facebook

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.

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.

Tagged :  world news

Featured

Oversea Event 12.17.14 | 08:28AM EST

Votes For 29th Golden Disk Awards Are Heating Up With Fans Of EXO, Beast & WINNER Showing Strong Support

EXO, Beast, and WINNER are leading key categories, as fans vote for the 29th Golden Disk Awards.

Hot Issues 12.17.14 | 07:56AM EST

J.Tune Camp Reveals Plans For A Three-Member MBLAQ

After confirmation that members Lee Joon and Thunder will be leaving the group, MBLAQ will continue as a trio with plans for a new album.

Oversea Event 12.15.14 | 11:46AM EST

5 Paintings By FT Island Guitarist Choi Jong Hoon To Be Exhibited At Tower Records In Tokyo

FT Island member Choi Jong Hoon has transformed into a painter and has opened his own exhibition in Japan.

Editorial 12.15.14 | 07:16AM EST

K-Pop Mixtape: The Best Of Korean Electro

A collection of songs from the best electronic musicians in K-pop - Clazziquai Project, Idiotape, GD X Taeyang, and more!

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