A rare 23.24-carat Golconda Blue diamond, once belonging to Indore’s Maharaja Yashwant Rao Holkar, has been withdrawn from Christie’s May 14 auction as the current owners opted for a private family sale. Estimated between $35–50 million, the vivid blue, pear-shaped gem was poised to become the largest fancy blue diamond ever offered at auction.

Originally acquired by Maharaja Tukoji Rao Holkar III in the early 1900s, the Golconda Blue carries a storied royal connection. It was first set into a bracelet by French jeweller Chaumet in 1923, later reimagined into an elegant necklace with the famed Indore Pears by Mauboussin, a piece famously worn by Maharani Sanyogita Devi in a portrait by Bernard Boutet. In 1947, American jeweller Harry Winston purchased the diamond, incorporating it into a brooch that eventually made its way to the Maharaja of Baroda.

Now set into a ring by master jeweller JAR, the diamond stands as a glittering symbol of Indore’s royal heritage and India's storied diamond legacy, one that stretches back to the time of Alexander the Great. Once hailed by Christie’s as a "once-in-a-lifetime gem", the Golconda Blue will now quietly continue its journey within the current owner's family.