Golconda Blue Diamond of King Yeshwant Rao Holkar Heads to ₹430 Crore Christie’s Auction

A rare 23-carat blue diamond with deep royal roots is set to make history as it hits the global auction circuit.

A breathtaking treasure with royal Indian lineage is making a glittering comeback. The ‘Golconda Blue’—a 23-carat pear-shaped blue diamond with links to the famed Holkar dynasty—is set to go under the hammer at Christie’s ‘Magnificent Jewels’ sale in Geneva on May 14. 

Estimated to fetch a staggering $35 to $50 million, the diamond is being touted as a "once-in-a-lifetime" offering by the prestigious auction house.

Christie’s, in its 259-year legacy, has auctioned some of the world’s most iconic Golconda diamonds—the Archduke Joseph, the Princie, and the Wittelsbach among them. But the ‘Golconda Blue’ stands apart, not just for its size and rare colour, but for its storied royal history and unmatched provenance.

From the Courts of Indore to the Global Stage

The diamond’s tale begins in early 20th-century India, with Yeshwant Rao Holkar, the Maharaja of Indore, a man known for his cosmopolitan flair and passion for art and jewels. A Knight of the Order of the Indian Empire, he and his queen, Maharani Sanyogitabai Devi, epitomised Indo-Western elegance during the 1920s and ’30s.

In 1913, his father purchased the famous Indore Pears from French jeweller Chaumet. By 1923, Yeshwant Rao commissioned a stunning bracelet featuring the dazzling ‘Golconda Blue’. The gem would later become part of a legendary necklace created by Mauboussin, a Parisian jeweller, who Maharaja officially appointed in 1933.

The blue diamond wasn’t just a gem—it was part of a narrative that crossed continents. In 1946, iconic American jeweller Harry Winston acquired both the Indore Pears and the blue diamond, setting the latter in a brooch with a matching 23-carat white diamond. That piece eventually made its way back to Winston, was reimagined again, and is now set in a modern ring by celebrated designer JAR (Joel Arthur Rosenthal).

This will be the first time the diamond is offered at auction in its ring setting—a moment of monumental significance for collectors and historians alike.

The Golconda Legacy

Named after the legendary Golconda mines of India—once the world’s most prolific diamond source—diamonds from this region are renowned for their exceptional clarity, brilliance, and historical significance.

The legacy of these gems traces back to a 4th-century Sanskrit manuscript and continued with Alexander the Great introducing Indian diamonds to Europe in 327 BC. Marco Polo further romanticised them in the 13th century. The ‘Golconda Blue’ carries the weight of this rich legacy—spanning ancient manuscripts, Mughal courts, and modern-day auctions.

“Today, the ‘Golconda Blue’ stands not only as a natural marvel but also as a storied jewel — its provenance bridging continents, dynasties, and centuries,” Christie’s said in a statement.

A Royal Gem Awaits Its Next Chapter

As the diamond prepares to make its dazzling debut on the global auction stage in Geneva’s Four Seasons Hotel des Bergues, all eyes are on who will next claim ownership of this royal relic. Whether it's acquired by a collector, museum, or modern-day maharaja, one thing’s certain: the ‘Golconda Blue’ is more than a jewel—it’s a piece of history.