The Princie Diamond breaks record at Christie’s New York sale

The Princie Diamond, a 34.65 carat Fancy Intense Pink diamond sold at the recent Christie’s New York sale, at a price that has created a new record for any jewel sold at Christie’s. It was bought for $39,323,750 with premium or $1,135,000 per carat, surpassing the previous record at Christie’s, of $24.3 million, set by the sale of the Wittelsbach Diamond..

Rahul Kadakia, Head of Jewelry, Christie’s Americas and Switzerland, commented: “A major event took place in the global auction industry with the record breaking sale of The Princie Diamond at Christie’s New York. Aside from Christie’s sale of the legendary Collection of Elizabeth Taylor, this was the most successful jewelry auction ever held in the United States and Christie’s was proud to have orchestrated the sale of such an historic gemstone.”

The Princie diamond is a cushion-cut sparkler originating from the Golconda mines in South Central India. It is characterized with its large size, desirable shape and polish, exceptional color and quality, Golconda origins, and a noble history. It was first recorded in the holdings of the Royal family of Hyderabad and first offered at auction in 1960 as “Property of a Gentleman” (later revealed to be the Nizam of Hyderabad himself). Bought by the London branch of Van Cleef & Arpels for a value which corresponds to US$1.3 million today, it was christened the unique name at a party at the firm’s Paris store, in honor of the 14-year-old Prince of Baroda, who attended the party with his mother Maharani Sita Devi.

Other highlights of the sale included top-quality white diamonds and natural pearls. The second top lot was a rectangular-cut D color diamond of 30.32 carats, bought for $4,435,750. A superb marquise-cut D color diamond ring by Harry Winston fetched $3,259,750, and a three-strand natural pearl necklace was purchased for $1,131,750.

The total sale of over 290 jewels realized a combined total of $81,358,700, marking the highest various owner jewelry sale total in the United States.