A massive 24-carat pink diamond with roots tracing right back to India’s famous Golconda mines just pulled in $14.8 million (roughly ₹124 crore) at an auction in Geneva. Known in high-jewelry circles as the “Bulgari Pink,” this stone sat locked away inside a single family’s private collection for more than 70 years before finally hitting the auction block on November 10.Going under the hammer at Christie’s Magnificent Jewels sale, the gem brought in exactly 12.086 million Swiss francs. Pre-sale estimates had pegged the stone somewhere between 10 million and 15 million Swiss francs – roughly $12 million to $18 million, or ₹100 crore to ₹151 crore – so the final bid landed comfortably right in the sweet spot.What really separates this sale from other high-dollar jewelry headlines, though, is where the stone actually came from.
Why Dealers Call It the “Mona Lisa of Pink Diamonds “
In the world of rare gems, size usually forces a compromise on color, or vice versa. The Bulgari Pink somehow clears both hurdles. Weighing in at an impressive 24 carats, it features a classic emerald cut and carries a “Fancy Intense Pink” color grading.On top of that, gemologists classify it as a Type IIa diamond – an ultra-rare category that makes up less than two percent of all gem-quality diamonds ever pulled from the earth. These stones lack almost all nitrogen impurities, giving them a distinct internal transparency and brilliance you rarely see in larger crystals.
A staff member holds a 24.00-carat Fancy Intense Pink emerald-cut diamond ring by Bulgari, estimated at US$12-18 million, during a preview ahead of Christie’s auction in Geneva, Switzerland, November 4, 2026. REUTERS/Denis Balibouse
Before the gavel dropped in Geneva, Max Fawcett, Christie’s global head of jewelry, summed up the hype by calling the piece the “Mona Lisa of pink diamonds.” Given how seldom a colored stone of this weight and clarity even surfaces on the open market, buyers clearly agreed with the label.
An Indian Journey Starting in the 1950s
According to family records shared ahead of the sale, the Bulgari Pink’s modern history starts in India during the 1950s. The seller’s great-grandparents acquired the stone while it was still in its rough, uncut state.Gem historians link the crystal directly to southern India’s historic Golconda region – the exact same mining area responsible for legendary stones like the Koh-i-Noor and the Hope Diamond. For centuries, Golconda held a global monopoly on top-tier gems, producing stones prized for a crystal clarity that modern mines still struggle to match.Once acquired, the family took the rough stone over to Rome, handing it off to Italian luxury house Bulgari to cut, polish, and mount into the statement ring seen today. After Bulgari finished the piece, it vanished from public view, staying quietly passed down within that same European family for over seven decades until this week.
What Else Hit the Block in Geneva?
While the Bulgari Pink easily stole the spotlight, Christie’s Geneva sale had plenty of other heavy hitters on the roster.The wider auction featured a massive private estate containing nearly 300 pieces of 20th-century jewelry, packed with vintage designs from major houses like Cartier, Graff, and Bulgari. Still, nothing came close to matching the buzz around the 24-carat centerpiece.After spending seventy years hidden away in private vaults, the stone has finally entered a new chapter – turning a 1950s purchase in India into one of the biggest jewelry sales of the year.
