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Indian diamond fetches record price in Geneva

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The Archduke Joseph Diamond which was sold at auction in Geneva on Tuesday for US$21.47 million. Photo: Xinhua

The flawless Archduke Joseph diamond, from India’s famous Golconda mines, broke several world records when it was sold at auction in Geneva for US$21.47 million.

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 the record for a Golconda diamond – the same mines which produced the Koh-i-Noor which adorns the British Queen’s crown.

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“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 jewellery expert Jean-Marc Lunel.

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

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

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