34-carat Princie diamond of Last Nizam is up for Auction

The 34-carat Princie diamond once owned by Nizam of Hyderabad Mir Osman Ali Khan is up for an auction in New York. Christie’s auction house expects this Princie diamond would become the costliest gemstone ever sold in auction history.

Nizam Mir Osman Ali Khan was regarded as the richest man in the world by Time magazine in 1937. The lavish lifestyle of Nizam became legend. He was fathered to 149 children from his numerous wives and mistresses. His collections of jewellery and stones were breathtaking. He used to use Jacob diamond, which was valued at £100m in 2008 as a paperweight. Mir Osman Ali Khan had presented Queen Elizabeth II wedding gifts in 1947 included brooches and a necklace which she still wears. The last Nizam owned Rolls-Royce limousines, hundreds of racehorses and trunks filled with silver and gold bullion. After Indian independence Nizam had surrendered his states to India and sold the diamond to Van Cleef & Arpels “for a very significant 46,000 English pounds,” says Christie’s auction house.

Princie diamond, extracted from the legendary Golconda mines over 300 years, is a pink diamond of 34.65 carats. The diamond was later bought by Maharani Sita Devi of Baroda.

“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,” the Christie’s notes informed.

“The Princie diamond brings together the legendary names of Golconda, Nizam of Hyderabad, and the Maharani Sita Devi of Baroda. This rich history, combined with its rare pink hue, conveys a special charm, which will speak to all collectors in the world seeking the best of the best in gemstones,” François Curiel, the chairman of Christie’s Jewellery Department said.

(Additional input from the Independent)

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