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Indian diamond fetches record price

Geneva: The flawless “Archduke Joseph” diamond, from India’s famous Golconda mines, broke several world records when it was sold at auction in Geneva late on November 13 for $21.47 million (16.9 million euros). The price which the 76 carat jewel fetched at the Christie’s sale is a record for the auction of a clear, colorless 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.

“It’s a cushion-shaped diamond, weighing 76.02 carats, of D color” the purest, most colorless variety of diamond, a rarity and a specialty of the ancient Golconda mines in the Indian state of Andhra Paradesh, said Christie’s jewelry expert Jean-Marc Lunel.