Diamond brings record $21.5 million
The Archduke Joseph Diamond. The internally flawless stone, weighing 76.02 carats, originated from the Golconda mines in India. It was sold by Christie's International during its jewel auction in Geneva, Switzerland, on Nov. 13, 2012 for a price of $21.5 million. Known as the Archduke Joseph Diamond, the internally flawless stone was the most highly valued lot in a jewelry auction held by Christie's International at the Four Seasons Hotel des Bergues, Geneva.
The gem was bought by telephone bidder against an estimate of $15 million to $25 million, based on hammer prices. Using Christie's exchange-rate figures this gives a price of $282,545 per carat, a record for a colorless stone, beating the $276,600 set for the Beau Sancy diamond at Sotheby's (BID), Geneva, in May.
The Archduke Joseph was originally sourced from the Golconda mines in India, which produced the 105.6carat Koh-i- Noor of the U.K. Crown Jewels. The stone was the largest perfect Golconda diamond to have appeared at auction.
"The best diamonds have become extraordinarily valuable," Geoffrey Munn, managing director of the Londonbased jeweler Wartski, said in an interview before the sale. "There's a sense at the moment that money is like sand running through fingers and there's a scramble to buy jewels as a hedge."