the princie diamond

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Princ i e Diamond


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N E W YO R K

The Princie Diamond

Tuesday 16 April 2013


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N E W YO R K

The Princie Diamond

Tuesday 16 April 2013


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The Princ i e Diamond


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The Princie Diamond traces its noble lineage to the Nizams of Hyderabad, rulers of

the south central state in India through which the fabled Golconda mines ran and thenthrough the famous house of Van Cleef & Arpels. Christened by Pierre Arpels in 1960

at a party in Paris honoring the young Prince of Baroda, the Princie has remained

absolutely untouched since it was mined over 300 years ago. The most beautiful stones

discovered in Golconda were always reserved for kings and rulers as they represented

the highest power, which was then magically transferred to the owner. It was a widely

regarded belief that Gods gift to India became Indias gift to mankind and the Princie

is undoubtedly one of the greatest gifts of Golconda.

Rahul Kadakia

Head of Jewelry, Americas & Switzerland


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the Princie is a classic Golconda type pink diamond at this time, the largest

Golconda-type Fancy Intense pink graded by GIA we note the once-in-a-lifetime

opportunity to document a diamond such as the Princie.

Gemological Institute of America, March 2013


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Mir Tahniath Ali Khan

Afzal-ud-Daula

Golconda Diamonds


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First discovered in 400 BC, Golconda represents the ancient diamond fields of

India, the worlds earliest and richest diamond mines. A broad area extending

nearly one thousand miles in the north-south direction along the eastern half

of the nation, this diamond belt comprised five distinct districts, each separated

by high terrain. Each district had its own name. Of these, the most famous

is the one called Golconda. Comprising the Kistna and Godaviri valleys,

the Golconda district centered around the trading capital. Indeed, Golcondayielded the worlds most beautiful and illustrious diamonds including the

Koh-i-noor, now part of the British Crown Jewels, mounted in the late

Queen Mothers crown, in The Royal Collection at the Tower of London;

the Regent, considered the finest diamond in the French Crown Jewels, at

the Muse du Louvre in Paris; and the Hope, gifted by Harry Winston to the

Smithsonian Institution in Washington D.C.

Little is recorded of the very early days of diamond mining in India. The

older history is told by the earth itself as geologists have unraveled the scientific

mysteries regarding the origin of the deposits. The more recent history of the

area is found in the writings of Jean Baptist Tavernier. Tavernier journeyed

to Persia and India six times between 1630 and 1668, and chronicled in

great detail his visits to the Indian diamond mines. According to Tavernier,

diamond mining in the Golconda district grew at an explosive rate in the mid

seventeenth-century. At the Kollur mine alone, the most prestigious among

the local mines, 60,000 diggers and washers were employed where the vast

majority of diamonds found were from alluvial deposits. Alluvial deposits are

secondary deposits formed by the breakdown of older rocks by natural forces.

Nature tends to gather heavier particles and pebbles, including diamonds,

into river beds where very little remains of the parent rocks that originally

contained the diamonds. These rocks, called kimberlites, formed one hundred

miles below the earths crust and were pushed up to the surface by violent

volcanic action. In time, the kimberlites disintegrated, leaving behind the hard

and durable diamond crystals which were originally imbedded in them.

For about two thousand years, India remained the worlds only source of

diamonds. The second earliest known source is Borneo during the tenth-

century. When the Indian deposits came close to depletion, alluvial sources

were discovered in Brazil in 1725. A century and a half later, when the

Brazilian mines were largely exhausted, alluvial deposits were found in the

Ural Mountains of Russia and in 1866, the significant diamond finds of South

Africa were discovered. Diamonds in Australia were first recorded in 1851 butit was not until 1979 that the important Argyle pipe was discovered. More

recently, Canada and the Yakutsk region of Russia have become forerunners in

diamond mining. Today, diamond production in India is a fraction of what it

was during the seventeenth-century and is completely overshadowed by mining

in Africa, Australia, and Russia. However, it is the Golconda diamond with its

incomparable quality, mystery and romance, sought by royal houses all over

the world, which still reigns supreme among gem connoisseurs.


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Falaknuma Palace, situated on a hill-top on the outskirts of Hyderabad.


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The Princie Diamond Milestones

1700s

A large pink cushion diamond weighing approximately 34 carats is acknowledged in

the holdings of the Nizam of Hyderabad.

1960

On March 17th, the diamond is sold at Sothebys London (lot 100) as The Property

of a Gentleman to the London branch of Van Cleef & Arpels for 46,000. The

diamond is then sent to their headquarters in Paris.

The diamond is christened at a party in the Van Cleef & Arpels Paris store where it is

named Princie in honor of the 14 year old Prince of Baroda who attended the party

with his Mother, Maharani Sita Devi. The Princie is set as a pendant surrounded byround brilliants and suspended from a necklace with baguette-cut diamonds.

2013

On April 16th, the Princie diamond is presented once again at auction at Christies

New York as the largest cushion-cut fancy intense pink Golconda diamond, weighing

34.65 carats.


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1948. Gujarat. Baroda (Vadodara). Maharani Sita Devi of Baroda dressed for herhusbands 40th birthday celebrations, wearing an exceptional necklace whichincludes the Star of the South and the English Dresden diamonds.

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First introduced to the world at a Sothebys auction in 1960 as a spectacular pink

cushion-cut diamond and offered as The Property of a Gentleman who was none

other than the Nizam of Hyderabad, the Princie was purchased by the London

branch of Van Cleef & Arpels for a very significant 46,000 English pounds. It was

subsequently sent to their Paris store, where a christening party was held in its honor.

Many dignitaries graced the event and the guests of honor were Sita Devi, Maharanee

of Baroda and her fourteen-year old son Sayajirao Gaekwad, affectionately known as

Princie. Sita Devi was a beautiful young woman referred to as The Indian Wallis

Simpson and was known for her lavish lifestyle and passion for jewels. She received

jewelry from the Baroda Treasury which included the famous Star of the South

Diamond, the English Dresden and the Baroda pearl necklace which was later sold at

Christies New York for a world-record price in 2007.


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Mir Osman Ali Khan, at his wedding in April 1906.

It is widely believed that the Princie originates from the legendary treasury of the

Nizams who controlled the Deccan in Hyderabad, the wealthiest province of the

Mughal Empire. The Nizams ruled the Deccan from 1724 to 1948 over seven

generations. The dynasty was founded by Mir Qamaruddin, an astute and courageous

military leader originally from the Ottoman Empire, who was awarded the title of

Nizam-ul-Mulk by the Mughal Emperor Aurangzeb. The Emperor also bestowedupon him the title of Asaf Jah, the highest honor for a subject of the Mughal Empire,

and as a further mark of his esteem, appointed him Viceroy of the Deccan.

Despite numerous battles with the neighboring Marathas and the growing threat from

the French and British, the first Nizam was able to extend his territory to incorporate

the eastern sea coast and the Golconda mines to the south. The enormous wealth of

the Nizams can be attributed at least in part to their control of the largest and most

significant gems from the Golconda mines. Tumultuous times followed the death

of the founder of the dynasty in 1748, but despite continuous financial and military

troubles, the Nizams were able to maintain their rule unscathed until 1948, when the

government of India annexed Hyderabad. The last Nizam, Mir Osman Ali Khan, was

forced by the Indian government to form trusts for his property which were to be

sold after his death.


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Azam Jah, The Prince of Berar, with his wife Princess Durreshahwar

and eldest son, Barkat Ali Khan, Mukarram Jah, 1934.

Mir Osman Ali Khan succeeded his father to become the last Asaf Jah in 1911.

According to the writer Usha Bala Krishnan, Osmans incalculable wealth was rootednot only in real estate and property holdings, but also in his possession of vast

quantities of gold and silver, earning him the title richest man in the world. D. F.

Karaka, the Nizams unofficial biographer, presents accounts of unimaginable amounts

of gold in the familys possession-- gold everywhere, buried deep under the portico of

the King Kothi Palace and of such quantity that when packed in covered wagons, the

wheels sank into the ground because of the sheer weight of the treasure.

When Osman Alis chosen successor, his grandson Mir Barkat Ali Khan, was first

granted access to the hidden treasures of his family, it is reported that the sight

of caskets of diamonds, emeralds, rubies and pearls and vast quantities of jewelry

assaulted his eyes and changed him forever. The secret of the Princie Diamond is

hidden in the treasury of this fabled dynasty, whose spectacular power, wealth and

extravagance remain legendary to this day. The mystery of its extraordinary history

gives it an inestimable allure, rendering it truly a priceless treasure from the Kings of

Golconda.


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The Princie diamond is recorded as one of the four most celebrated and

historical pink diamonds in the world. All four of these great gemswere found at the fabled Golconda diamond mines in South central

India. Golconda was the earliest known diamond mine to mankind,

producing diamonds as early as 800 B.C. and was famous for the worlds

most significant diamonds such as the blue Hope and the Dresden green.

The two largest pinks, namely the Darya-i Nur, of approximately 175-

195 carats and the Nur ul-Ain, of approximately 60 carats, are in the

collection of the Iranian Crown Jewels and were first discovered by

the 17th century French traveler Jean Baptist Tavernier. It has since

been determined that they were cut from a single pink diamond roughweighing over 242 carats, dubbed The Great Table by Tavernier and

recorded as the biggest stone he had ever seen in Golconda. The Princie

diamond, a fancy intense pink cushion-cut diamond of 34.65 carats

is the third largest, followed by the Agra diamond, a fancy light pink

diamond of 32.24 carats which was sold at Christies London in 1990.

GIAs grade of Fancy Intense describes a depth of color, tone and

saturation that is extremely rare in pink diamonds over 5 carats. It has

reported that very few pink diamonds above 5 carats have the depth

of color required to receive a grade of Fancy Intense in GIAs color

grading system. At 34.65 carats, the Princie ranks as the largest Fancy

Intense Pink Golconda diamond GIA has ever graded, and one of the

largest Fancy Intense pink diamonds in the world.

Historical Pink Golconda Diamonds


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The Agra Diamond, 32.24 caratsSold at Christies London, 1990

The Princie Diamond, 34.65 carats

Nur ul-Ain, 60 caratsIranian Crown Jewels

Darya-i Nur, 175195 caratsIranian Crown Jewels


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The Agra Diamond, 32.24 carats

Sold at Christies London, 1990

The Indore Diamonds, 46.39 carats and 44.14 carats

Sold at Christies Geneva, 1980 and 1987

Famous Golconda Diamonds

sold at Christies


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The Archduke Joseph Diamond, 76.02 carats

Sold at Christies Geneva, 1993 and 2012

The Wittelsbach Diamond, 35.56 carats

Sold at Christies London, 2008

The Ahmadabad Diamond, 78.86 carats

Sold at Christies Geneva, 1995


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Of more than 7 million diamonds that have gone through the

GIA Laboratory no more than 40 of them exhibited orangey-

red fluorescence/phosphorescence. Of these, the Princie is

the largest pink diamond that possesses this outstanding

phenomenon.

The Princie Diamond exhibits distinctive bright orange fluorescence duringexposure to long-wave and short-wave ultraviolet radiation

The Hope Diamond exhibits remarkable red phosphorescence followingexposure to ultraviolet radiation

Fluorescence and Phosphorescencein Historic Diamonds


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The Princie Diamonds reaction has been attributed to diamonds

of known Indian origin and it is this reaction that indicates thePrincie Diamond is a classic Golconda type pink diamond.

Gemological Institute of America

Fluorescence is an emission of visible light when a diamond is exposed to ultraviolet

radiation. In more than 95% of all diamonds that exhibit fluorescence, the reaction is

blue. In rare instances, the reaction can be yellow, white or another color.

A defining characteristic of the Princie diamond is its bright orange fluorescence

when exposed to both short-wave and long-wave ultraviolet radiation. Type II pink

diamonds typically exhibit no reaction or a weak blue color when exposed to long-

wave radiation. It is extremely rare for Type II pink diamonds to exhibit any reaction

to short-wave radiation.


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the Princie is a classic Golconda type pink diamond at this time, the largest

Golconda-type Fancy Intense pink graded by GIA we note the once-in-a-lifetime

opportunity to document a diamond such as the Princie.

Gemological Institute of America, March 2013


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END OF SALE

The Princie Diamond

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295

An historic cushion-cut fancy intense pink diamond, weighing

approximately 34.65 carats

With report 5111433470 dated 25 November 2009 from the Gemological

Institute of America stating that the diamond is fancy intense pink, natural

color, VS2 clarity

Accompanied by a supplemental letter from the Gemological Institute of

America stating that the diamond has been determined to be a Type IIa

diamond. Type IIa diamonds are the most chemically pure type of diamond

and often have exceptional optical transparency. Type IIa diamonds were first

identified as originating from India (particularly from the Golconda region) but

have since been recovered in all major diamond-producing regions of the world.Among famous gem diamonds, the 530.20 carat Cullinan and the 105.60

carat Koh-i-noor are examples of Type IIa

Accompanied by a hardbound monograph from the Gemological Institute

of America, featuring additional photography, data collection charts and

gemological research, attesting to the rarity and prestige of the Princie diamond

Estimate on Request

Prospective bidders for the Princie diamond are asked to please contact theJewelry Department at least 24 hours prior to the auction.

295


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Nizam Mir Osman Ali Khan is dressed in traditional Hyderabadi clothes.


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Credits

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WORKS CITED

Bala Krishnan, Usha R. Jewels of the Nizams, Pictor Publishing

Gemological Institute of America

Meen, V.B. and Tushingham, A.D. Crown Jewels of Iran. University of Toronto Press, 1968

Raulet, Slyvie. Van Cleef & Arpels. Editions Du Regard, 1986

IMAGE CREDITS

Page 232 Usha R. Bala Krishnan, Jewels of the Nizams, Pictor Publishing

Page 233 Gemological Institute of America

Page 240-241 Gemological Institute of America

Page 242 V&A Picture Library (IS.107-105)

Page 244-245 Bharath Ramamrutham,Jewels of the Nizams by Usha R. Bala Krishnan, Pictor Publishing

Page 246 (top left) By permission of the British Library, Add Or. 3848

(top right) By permission of the British Library, MSS. EUR.G. 38/1 (3i)

(bottom left) By permission of the British Library, MSS. EUR.G.38/1 (3k)

(bottom right) Courtesy Salar Jung Museum, Hyderabad and Usha R. Bala Krishnan, Jewels

of the Nizams, Pictor Publishing

Page 247 (top left) V&A Picture Library (IS.107-105)

(top right) Courtesy Siasat and Usha R. Bala Krishnan, Jewels of the Nizams, Pictor Publishing

(bottom) www.rajadeendayal.com

Page 249 Henri Cartier-Bresson/Magnum PhotosPage 250 Narendra Luther

Page 251 Narendra Luther

Page 253 (top left) Courtesy of the Royal Ontario Museum

(top right) Varouj Yazejian, Photo Vahe, Teheran

Page 256 (top left and top right) Courtesy of the Smithsonian Institution

Page 264 www.rajadeendayal.com


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THE POWER OF PINKCHRISTIE'S NEW YORK MAGNIFICENT JEWELS AUCTION

ACHIEVES US$81.3 MILLION

The Princie Diamond Sells For $39,323,750

MOST VALUABLE GOLCONDA DIAMOND EVER SOLD AT AUCTION

MOST VALUABLE DIAMOND EVER SOLD AT CHRISTIES

AND AT AUCTION IN THE UNITED STATES

New YorkAn extraordinary 34.65 carat Fancy Intense Pink diamond set a new record high at Christies New

York on April 16, selling for $39,323,750 (25,560,438 / 29,886,050) with premium, or $1,135,000 per carat.

The diamond a cushion-cut sparkler that originated from the ancient Golconda mines in South Central India -

- was purchased by an anonymous collector bidding by phone.

The sale price represents a new record for any jewel sold at Christie's, surpassing the previous house record of

$24.3 million set in December 2008 with the sale of the Wittelsbach Diamond. Among important large

diamonds, the Princie possesses all of the most desirable qualities todays collectors seek in diamonds : 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, rulers of one of the wealthiest provinces of the

Mughal Empire. First offered at auction in 1960 as Property of a Gentleman (later revealed to be the Nizam

of Hyderabad himself) the diamond was purchased by the London branch of Van Cleef & Arpels for 46,000,

which corresponds to US$1.3 million today and highlights the tremendous investment opportunities in the

P R E S S R E L E A S E | N E W Y O R K | 1 6 A p r i l 2 0 1 3

F O R I M M E D I A T E R E L E A S E


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world of diamonds. The diamonds unique name was bestowed at a party at the firms Paris store, where it

was christened the Princie in honor of the 14-year-old Prince of Baroda, who attended the party with his

mother Maharani Sita Devi.

Further highlights of the day-long auction at Christies included top-quality white diamonds and natural pearls.

The second highest price of $4,435,750 was achieved for a rectangular-cut D color diamond of 30.32 carats, or

$146,300 per carat. A superb marquise-cut D color diamond ring by Harry Winston fetched $3,259,750, and a

three-strand natural pearl necklace was purchased by a Middle East buyer for $1,131,750 . The total sale of

over 290 jewels realized a combined total of $81,358,700 (52,883,155/ 61,832,612), marking the highest

various owner jewelry sale total in the United States.

Rahul Kadakia, Head of Jewelry, Christies Americas and Switzerland, commented: A major event took place

in the global auction industry with the record breaking sale of The Princie Diamondat Christies New York.Aside from Christies sale of the legendary Collection of Elizabeth Taylor, this was the most successful jewelry

auction ever held in the United States and Christies was proud to have orchestrated the sale of such an

historic gemstone.

Christies next major jewels auctions will take place in Geneva on May 15 and in Hong Kong on May 28.

PRESS CONTACT: Erin McAndrew | +1 212 636 2680 |[email protected]

Gabriel Ford| +1 212 636 2680 |[email protected]

About Christies

Christies, the world's leading art business, had global auction and private sales in 2012 that totaled 3.92 billion/$6.27 billion.

Christies is a name and place that speaks of extraordinary art, unparalleled service and expertise, as well as international glamour.

Founded in 1766 by James Christie, Christie's has since conducted the greatest and most celebrated auctions through the centuries

providing a popular showcase for the unique and the beautiful. Christies offers over 450 auctions annually in over 80 catego ries,

including all areas of fine and decorative arts, jewellery, photographs, collectibles, wine, and more. Prices range from $200 to over$100 million. Christie's also has a long and successful history conducting private sales for its clients in all categories, with emphasis

on Post-War and Contemporary, Impressionist and Modern, Old Masters and Jewellery. Private sales totaled 631.3 million/$1

billion in 2012, an increase of 26% on the same period last year.

Christies has a global presence with 53 offices in 32 countries and 10 salerooms around the world including in London, New Y ork,

Paris, Geneva, Milan, Amsterdam, Dubai, Zrich, and Hong Kong. More recently, Christies has led in growth markets such as Russia,

China, India and the Middle East, with successful sales, exhibitions and initiatives in Moscow, Baku, Beijing, Mumbai, Delhi, Jeddah,

Abu Dhabi, Doha and Dubai.

*Estimates do not include buyers premium. Sales totals are hammer price plus buyers premium and do not reflect costs, financing

fees or application of buyers or sellers credits.

# # #Images available on request

Visit Christies Website atwww.christies.com

Complete catalogue available online atwww.christies.com or via the Christies iPhone app

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M a g n i f i c e n t J e w e l s a n d T h e P r i n c i e D i a m o n d

New York, 16 Apr i l 2013, Sa le #2694

[All sold prices include buyers premium]

241 lots sold Total: $81,358,700 / 52,883,155 / 61,832,612 82% sold by lot

294 lots offered 0.65= $1 / 0.76=$1 91% sold by value

Lot Description Estimate ($) PriceRealized

Buyer

295

The Princie DiamondA cushion-cut fancy intense pink Golconda diamond of

34.65 cts

$1,135,000 per caratWORLD AUCTION RECORD FOR A GOLCONDA DIAMOND

MOST EXPENSIVE DIAMOND EVER SOLD AT CHRISTIES

AND IN THE UNITED STATES

Estimate on

request

$ 39,323,750

25,560,438

29,886,050

Anonymous

283A rectangular-cut D color VVS1 diamond of 30.32 cts

$146,300 per carat

3,000,000

4,000,000

$ 4,435,750

2,883,238

3,371,170

Private

294

A marquise-cut D color VVS2 diamond ring of 23.30

cts, by Harry Winston

$140,000 per carat

2,500,000

3,500,000

$ 3,259,750

2,118,838

2,477,410

Graff Diamonds

282 A diamond necklace by William Goldberg1,600,000

2,500,000

$ 1,859,750

1,208,838

1,413,410

Essex Global

Trading

286

An oval-cut ruby and diamond ring of 11.08 cts

$157,000 per carat1,500,000

2,500,000

$ 1,743,750

1,133,438

1,325,250

US Trade

131

A rectangular-cut fancy pink-brown VS1 diamond of

35.60 cts

$47,000 per carat

1,400,000

1,800,000

$ 1,683,750

1,094,438

1,279,650

Anonymous

71A pear-shaped D color VVS2 diamond of 12.04 cts

$115,000 per carat

900,000

1,100,000

$ 1,383,750

899,438

1,051,650

US Trade

145

A rectangular-cut D color internally flawless diamond

of 11.39 cts

$116, 000 per carat

1,000,000

1,500,000

$ 1,323,750

860,438

1,006,050

Asian Private

208 An emerald and diamond necklace by Harry Winston800,0001,200,000

$ 1,203,750 782,438

914,850

European Trade

290A three-strand natural pearl necklace measuring from

4.95 to 11.05 mm

1,000,000

1,500,000

$ 1,131,750

735,638

860,130

Middle East

Trade

Rahul Kadakia, Head of Jewelry, Christies Americas and Switzerland, commented: A major event took place in

the global auction industry with the record breaking sale ofThe Princie Diamondat Christies New York. Aside fromChristies sale of the legendary Collection of Elizabeth Taylor, this was the most successful jewelry auction ever held

the princie diamond

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