Indian diamond fetches record price at Geneva auction

INDIA: The flawless ‘Archduke Joseph’ diamond, from India’s famous Golconda mines, broke several world records when it was sold at auction in Geneva late Tuesday for $21.47 million (16.9 million euros).

The price which the 76 carat jewel fetched at the Christie’s sale is a record for the auction of a clear, colourless diamond.

It is also the highest auction price per carat for such a gem and the record for a Golconda diamond, the same mines which produced the Koh-i-Noor which adorns the British Queen’s crown.

“It’s a cushion-shaped diamond, weighing 76.02 carats, of D colour” the purest, most colourless variety of diamond, a rarity and a speciality of the ancient Golconda mines in the Indian state of Andhra Paradesh, said Christie’s jewelery expert Jean-Marc Lunel.

AFP