One of the Rarest and Biggest Diamonds in the World Expected to Fetch Over $15 Million at Christie’s
The legendary Archduke Joseph Diamond, going up for auction at Christie’s in November in Geneva, is so large and blingtastic that photographers struggled to take photos of it during last week’s press preview in New York City. The 76.02 carat rock truly has to be seen to believed, which is why its predicted it will fetch upwards of $15 million when it hits the auction block.
The origin of the diamond traces back to the ancient Golconda mines in India. Although historians haven’t been able to pinpoint exactly when the diamond was gained by the House of Habsburg, it was recorded as a piece of property of the Archduke during his life from 1872-1962. He then passed the diamond on to his son, who then sold it to an anonymous buyer who left it in a safe during World War II. It appeared at auction in 1961 and again in 1993, when Christie’s sold it for $6.5 million.
The diamond is so rare it is almost not comparable to anything else in existence, except, according to Rahul Kadakia, Head of Jewellery at Christrie’s Americas and Switzerland, the Koh-i-Noor diamond that is part of the crown jewels.
Kadakia says the diamond is proof of the strength of the diamond market. “What else can you get a 150 percent return from in 19 years?” he told us.
As for those wondering what someone who is purchasing a diamond of this size should do with it, Kadakia suggests with a glint in his eye, “Come back to me in five years, and I’ll sell it for $50 million.”
Yes, investing is all well and good, but a suggestion for the person who buys this diamond, which is “a little heavier than a quail egg” according to Kadakia—if you’ve got it, flaunt it.