[QODLink]
Europe

Archduke Joseph diamond sells for $21m

The Golconda diamond, sold in Switzerland, broke the record for the highest auction price per carat for a gem.
Last Modified: 14 Nov 2012 10:34
The diamond originally comes from the Indian state of Andhra Paradesh [Reuters]

One of the world's most famous diamonds has been sold at an auction for $21 million in Switzerland.

The flawless 'Archduke Joseph" diamond, from India's famous Golconda mines, broke several world records when it was sold on Tuesday.

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 a record for a diamond Golconda from the same mines which produced the Koh-i-Noor which is on the crown of the British queen.

"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.

The diamond's seller, American jeweller Black, Starr & Frost, said they thought it would be "going to a museum", Reuters news agency reported.

The 'Archduke Joseph,' which was bought by an anonymous bidder,once belonged to the Habsburgs, former rulers of the Austrian empire.

It takes its name from the Archduke Joseph (1872-1962) who was for a short period the Hungarian head of state.

The diamond was sold in 1936 to a still-anonymous buyer and, hidden in a safe, escaped the attentions of the Nazis during the second world war .

It reappeared on the international scene at a sale in London in 1961.

In 1993 it was sold again, in Geneva, for $6.5 million.

252

Source:
Agencies
Topics in this article
People
Country
City
Featured on Al Jazeera
The author argues that in the new economy, it's people, not skills or majors, that have lost value.
Colleagues of detained Al Jazeera journalists press demands for their release, 100 days after their arrest in Egypt.
Mehdi Hasan discusses online freedoms and the potential of the web with Wikipedia founder Jimmy Wales.
A tight race seems likely as 814 million voters elect leaders in world's largest democracy next week.
Featured
Venezuela's president lacks the charisma and cult of personality maintained by the late Hugo Chavez.
Despite the Geneva deal, anti-government protesters in Ukraine's eastern regions don't intend to leave any time soon.
Since independence, Zimbabwe has faced food shortages, hyperinflation - and several political crises.
After a sit-in protest at Poland's parliament, lawmakers are set to raise government aid to carers of disabled youth.
A vocal minority in Ukraine's east wants to join Russia, and Kiev has so far been unable to put down the separatists.
join our mailing list