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Pink 34-Carat Diamond Sells for $39 Million at Christie’s

The
The "Princie Diamond". Source: Christie's Images Ltd. 2013 via Bloomberg

April 16 (Bloomberg) -- A 34.65-carat pink diamond, known as “Princie,” sold for $39.3 million at Christie’s in New York today.

Estimated at $30 million, the stone failed to break the record for any jewel at auction of $46.2 million, paid in 2010 at Sotheby’s in Geneva for a pink diamond of 24.8 carats.

“Princie” drew just two bidders, with action starting at $20 million and continuing for only two minutes.

The winning offer came from Francois Curiel, international head of jewelry at Christies and president of Christies Asia, bidding in the room on behalf of an anonymous client.

The gem is considered one of the four most celebrated pink diamonds in the world. It was first recorded in the holdings of the Nizam, or monarch, of Hyderabad, India, according to Christie’s.

In 1960, “Princie” sold for 46,000 pounds ($70,725) at Sotheby’s in London. The buyer was Van Cleef & Arpels, which threw a party attended by Maharani Sita Devi of Boroda and her 14-year-old son, Sayajirao Gaekwad, who was nicknamed “Princie,” according to Christie’s catalog. The diamond was named after the youth.

Today’s price included the premium.

The diamond concluded Christie’s “Magnificent Jewels” auction, which tallied $81.4 million, with 82 percent of 295 lots sold.

Muse highlights include Laurie Muchnick, Mark Beech on books.

To contact the reporters of this story: Katya Kazakina in New York at kkazakina@bloomberg.net.

To contact the editor responsible for this story: Manuela Hoelterhoff at mhoelterhoff@bloomberg.net.

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