In a first, royal diamond 'The Golconda Blue' to go under hammer

A rare piece of India's royal heritage, 'The Golconda Blue' -- a historic diamond once owned by the Maharajas of Indore and Baroda -- is set to make its auction debut at the Christie's "Magnificent Jewels" sale in Geneva on May 14.

The 23.24-carat vivid blue diamond, mounted in a striking modern ring by celebrated Parisian designer JAR, is expected to fetch an estimated value between $35 and $50 million (Rs 300-430 crore).

"Exceptional noble gems of this caliber come to market once in a lifetime. Over the course of its 259-year history, Christie's has had the honour of offering some of the world's most important Golconda diamonds, including the Archduke Joseph, the Princie, and the Wittelsbach.

"With its Royal heritage, extraordinary color, and exceptional size, 'The Golconda Blue' is truly one of the rarest blue diamonds in the world," Rahul Kadakia, Christie's International head of Jewelry, said in a statement.

Hailed as one of the most important and rarest blue diamonds ever discovered, what makes the auction more significant for Indian audiences is its direct lineage to Indian royalty -- and its origins in the legendary Golconda mines of present-day Telangana, renowned for producing the world's most iconic diamonds.