Care to spare a few crores? Head to the Sotheby’s auction at Hong Kong in April and bring back the exclusive NiravModi Diamond necklace home. The Indian jewellery designer is all set to auction off his latest masterpiece of diamond necklace that features 17 high-quality Russian diamonds. The largest diamond is a 10 carat, while the smallest stone boasts 2 carats – bringing it to a total of 85 carats. The 50 crore base price is only fair considering the 1500 man hours that have been invested in crafting this unique neckpiece. “It took us two years to source all the diamonds, which represent characteristics similar to ones from the Golkonda region,” says Modi.
In the past, Sotheby’s and Christie’s have auction off about 20 exquisite precious jewellery designs for NiravModi. The designer is confident of attracting enough bidders for this latest offering. International buyers are expected to go for the highest bids with US and Europe opening up to luxury investments. Modi expects to attract wealthy international buyers for his most expensive design with its fine workmanship and excellent stone quality. “It’s the craftsmanship, design, diamond necklace along with the quality and rarity of the stones used in the piece,” – that justifies the generous investment. Modi explains.
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In 2010, Christie’s Autumn Jewellery Auction sold Modi’s Golconda Necklace for Rs 1.29 crores. In 2012, Modi’s Riviere Diamond Necklace was sold for $5.1 million, in another Hong Kong auction by Sotheby’s. Modi is also the first Indian jeweler to be featured on the cover of Christie’s Hong Kong Auction Catalogue, along with biggies like Cartier and Van Cleef & Arpels.
Vintage designs studded with Golconda diamonds or Kashmiri Sapphires are on the priority radar of the global luxury shoppers. Traditional jewellery with historical significance, but unique contemporary elements are also preferred.
The Golconda Diamond Necklace
If you are expecting a glance at the 50 crore diamond necklace, you may have to wait a while longer for Modi to complete his ‘finishing touches’. Meanwhile, take a look at these exclusive (and expensive) Nirav Modi jewellery designs.