Rare 76.02 carat Archduke Joseph diamond to fetch $15 million


Time and again, precious and rare diamonds have fetched millions of dollars. Now the rare Archduke Joseph, a 76.02-carat diamond that had been retrieved from India’s most famous yet now closed diamond mine – Golconda known to produce the purest of gems will go on auction at Christie’s auction house in Geneva. The diamond holds historic value as it belonged to Archduke Joseph of Austria (1872-1962) and was put in the vault of the Hungarian General Credit Bank in 1933 by his son, Archduke Joseph Francis. Sold three years later to an anonymous buyer, the diamond was safely hidden while escaping the Nazis.

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Having resurfaced in 1961 and after passing through the hands of numerous wealthy buyers the diamond, according to critics, will fetch up to $15 million when it goes on sale in Geneva.
[Telegraph and Economictimes]