Sellers of historic diamonds are increasingly wary of the hefty commissions charged by reputed auction houses. This has given impetus to private sales, where such costs can be avoided. However, the benefits offered by established auction houses — particularly their rigorous authenticity checks and the credibility associated with names like Sotheby’s and Christie’s — remain significant and cannot be overlooked. This can be better seen in the context of two blue diamonds from the famed Golconda mines – The Golconda Blue Diamond and the Seraphim Blue Diamond.
THE GOLCONDA BLUE DIAMOND
The 2025 cancellation of a high profile auction by Christie’s, could be pointer for a wider trend in the near future? The auction involved a blue diamond from the Golconda mines. Referred to as the Golconda Blue Diamond, the diamond had royalty in in its provenance – the history was traced from the early 1900s. Chrisitie’s made a shocking and disappointing announcement just a couple of weeks before the auction. The seller had decided to go for a private sale. Could this whole drama have been enacted by the seller and Christie’s, just to gain the traction of exorbitant price predictions, using Christie’s turbo style publicity campaigns? The private sale could have been planned earlier?
THE SERAPHIM BLUE DIAMOND
Another historic diamond from the Golconda mines, has been gaining interest in recent times. An elusive pear shape blue Golconda diamond, referred to as the Seraphim Blue Diamond. Apparently worn by the first Nizam of Hyderabad, Asaf Jah 1 in a turban ornament – the diamond has not been seen for centuries. Multiple reports on various platforms have been narrating a similar storyline in recent times – the underlying claim is that the Seraphim Blue Diamond, has been traced to a valuable Russian collection. Excitement is being controlled as hopes are raised of the historic blue diamond, making it to an auction by the likes of Sotheby’s or Christie’s. Remains to be seen if the diamond has been already sold, in private sale. Such transactions are generally kept confidential – the desire of both, the seller and the buyer.
TWO HISTORIC DIAMONDS
Deviating a bit from the topic of a public auction or a private sale, some interesting notes on the Golconda Blue Diamond and the Seraphim Blue Diamond. The announcement of the Golconda Blue Diamond auction raised some confusion, this as the presumption was that the diamond was in fact the Seraphim Blue Diamond. Knowledgeable experts quickly clarified the issue, the two blue diamonds did originate from the Golconda mines, did have royalty in their provenance – but had their own story to tell.
The Golconda Blue Diamond had a provenance that started in the early 1900s. The Seraphim Blue Diamond on the other hand, was worn by the Asaf Jah 1 the first Nizam of Hyderabad, the time frame was way back – around 1724. The Golconda Blue Diamond has a confirmed weight of 23.24 carats, experts provide a hypothetical weight of no more than 6 to 9 carats for the Seraphim Blue Diamond. Both diamonds are said to have a fine blue color and impressive clarity.
The Golconda Blue Diamond was pulled out of the auction, the Seraphim Blue Diamond has never been put up for auction. The big auction houses have not had the opportunity to organize, a historic Golconda diamond auction for a while.
SUMMARY
Private sales of historic diamonds offer the advantage of confidentiality. The identities of both diamond buyer and seller, as well as the agreed price, can be kept discreet and away from the wider diamond circuit. Some experts argue that diamonds like the Seraphim Blue Diamond and the Golconda Blue Diamond, would have little problem in attracting top level collectors. A direct sale would not require the seller, to part with a hefty margin that would be picked by the auction house.
The extensive due diligence carried out by auction houses plays a crucial role in authenticating the physical properties, provenance, and legal ownership of a historic diamond. The commission charged by reputed auction houses, should be reviewed in the above context.
