A legal dispute within the Qatari royal family regarding the ownership of the renowned Idol’s Eye diamond concluded in London, as a judge ruled that the 70-carat gem will remain with the family of a former culture minister. The ruling was delivered on Thursday, ending a contentious battle over this historically significant diamond.
The conflict involved Sheikh Hamad bin Abdullah al-Thani, an art collector based in London, who asserted his right to purchase the diamond from Elanus, a company linked to the family foundation of the late Sheikh Saud bin Mohammed bin Ali al-Thani. Sheikh Hamad claimed that an offer to sell the diamond was extended to him by Sheikh Saud’s son in 2020, prompting him to seek court validation for his right to acquire the gem through his investment firm, Qipco.
Conversely, the Mohammed Ali al-Thani faction maintained that no serious sale discussions had taken place. The court ultimately sided with Elanus, stating that they could not be forced to sell the diamond.
Sa’ad Hossain KC, representing Elanus, emphasized that the Idol’s Eye had been securely stored in Sheikh Saud’s personal safe and highlighted its significance as one of his most treasured pieces.
The diamond is currently valued at approximately $27 million by an expert from Elanus, underscoring its immense worth and historical significance.
The Idol’s Eye is believed to be the largest cut blue diamond globally and boasts a rich history, having been owned by various notable figures including a Persian prince and several American collectors before arriving in London. Its origins trace back to the early 17th century in India’s Golconda region. The gem has been compared to other famous diamonds such as the Hope Diamond and the Taylor-Burton Diamond.
Historically, it is said that Prince Rahab of Persia initially owned the stone until it was seized by the East India Company to settle debts. After centuries of obscurity, it resurfaced at a Christie’s auction in 1865 and has since changed hands multiple times. Notably, American jeweler Harry Winston acquired it in 1946 and incorporated it into an elaborate necklace before Sheikh Saud purchased it for around £7 million ($8.78 million) in 2004.
There are intriguing legends surrounding the Idol’s Eye, including speculation that it served as the eye of a secret idol within a temple, although these theories remain unverified.
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