Diamond Sells for Record $21.5 Million
The Archduke Joseph Diamond, one of the world’s most famous and historic diamonds, sold for $21.5 million Nov. 13, 2012, at Christie’s Geneva. Since 1999, the diamond has been under the watchful eye of jeweler Alfredo J. Molina, chairman of Black, Starr & Frost. The Archduke Joseph, an awe-inspiring 76.02-carat, D color, internally flawless Golconda diamond, was the grand finale of Christie’s sale of Magnificent jewels, held at the Four Seasons Hotel des Bergues.
“The Archduke Joseph Diamond is considered the finest and largest perfect Golconda diamond ever to appear at auction, with a noble lineage and royal provenance literally ‘Fit for a Queen,’ ” says Molina. “I was privileged to be its guardian and champion for the past 13 years, but now it is time for the Archduke to continue on its immortal journey.”
One of the largest known diamonds from the legendary Golconda mines in India, where diamonds were discovered some 3,000 years ago, the Archduke Joseph Diamond took its name from its last-known and illustrious owner, the Archduke Joseph, a Habsburg prince of the Hungarian branch of the noble European dynasty.
“It has been fascinating to see the almost visceral response to the soulful beauty of the Archduke Joseph Diamond," says jewelry historian Vivienne Becker. “The fact that it has come from the collection of Black, Starr & Frost, one of the most distinguished names in 19th and 20th century jewelry, brings the story full circle. Black, Starr & Frost, the earliest American jeweler, revitalized today under the direction of Alfredo Molina, brought important diamonds, as well as dynamic design, to the most sophisticated American collectors of the day.”
The sale of the Archduke Joseph Diamond marks a milestone, not only in auction history but also in the fascinating narrative of Black, Star & Frost. Founded in 1810 and known as “America’s First Jeweler,” the company has a rich diamond heritage and a reputation for creating masterpieces of American jewelry. In 1928, it sold the 127.01-carat Portuguese diamond for $373,000 to the famous vaudeville star Peggy Hoskins Joyce. She was widely considered to be the model for the diamond-adoring Lorelei Lee in “Gentlemen Prefer Blondes.”
Black, Starr & Frost catered to the cream of American society throughout the prosperity of the mid to late 19th century and America’s glittering Gilded Age. Clients included the Rockefellers, Vanderbilts, Carnegies and Guggenheims.
The Molina Group acquired the company in 2006 with the aim to revitalize the name of Black, Starr & Frost and its reputation for design-driven jewels of the finest quality, and to restore the historic company to its position at the pinnacle of American luxury.
"Jeweler Dazzles the Diamond World," The Orange County Register
