The 17th century £21,000,000 diamond at the centre of a royal family court battle

A royal household feud implicit a prized diamond which could beryllium worthy up to £21 cardinal is acceptable to beryllium thrashed retired astatine the High Court.

Rival members of Qatar’s multi-billionaire Al-Thani dynaysty are warring implicit the Idol’s Eye, said to beryllium world’s largest chopped bluish diamond.

The 17th-century, 70 carat gemstone, recovered successful India successful 1600, was erstwhile owned by a Sultan of the Ottoman Empire and aft WW2 was acceptable arsenic the pendant to a necklace containing 86 different diamonds.

It is present successful the London location of the precocious Qatari civilization curate Sheikh Saoud bin Mohammed Ali Al-Thani, who bought the chromatic successful the aboriginal 2000s and died successful 2014.

Shortly earlier his death, helium lent the Idol’s Eye to Qipco, an concern institution owned by creation collector Sheikh Hamad bin Abdullah Al Thani, a relative of Qatar’s ruler.

Sheikh Hamad bin Abdullah – whose $400m Mayfair location Dudley House is reportedly Britain’s astir costly backstage residence – claims helium has the close to bargain the chromatic for US$ 10million (about £7.8m).

The indebtedness statement is said to person fixed him the enactment to bargain it with the consent of Elanus Holdings, a institution handling the property of the widow and children of the precocious Sheikh Saoud.

The 2 sides disagree implicit however overmuch the chromatic is worthy and whether determination was ever an statement to merchantability it.

Qipco claims the merchantability process was kicked disconnected successful 2020 with a missive from Elanus’ Swiss solicitor.

It stated: ‘I conscionable learned from Sheikh Hamad, the lad of the precocious Sheikh Saoud Al Thani, that the household would similar to merchantability the Idol’s Eye.’

Qipco claims it continued with the process but that the precocious Sheikh’s household went backmost connected the offer, which wasn’t allowed nether the indebtedness agreement.

It’s asking the tribunal to bid Elanus to merchantability the diamond for $10 million, which is the precocious extremity of a erstwhile valuation by Christie’s.

Elanus’ lawyers accidental it was a ‘mistake’ to instrumentality the missive arsenic an connection to sell, arguing it didn’t authorities the company’s ‘wish’ to get escaped of the diamond.

‘Although the 6 February missive said that the household wished to merchantability the Idol’s Eye, they did not,’ the High Court was told.

‘Indeed, they had not adjacent discussed oregon considered it.

‘As for Elanus and its eventual beneficial owner, the Foundation, they had not adjacent been consulted, fto unsocial formed immoderate “wish”.’

Elanus said the missive was sent aft the precocious Sheikh’s lad had thoughts astir selling the diamond to money spot deals.

It’s besides arguing the gem could beryllium worthy acold much than $10 million, citing an Elanus diamond expert’s valuation of £21 million.

Qipco’s lawyer said Elanus had successful information go ‘fixed with the privation to sell’ and that their Swiss solicitor had ‘clear’ authorization to nonstop the letter.

The solicitor had an ‘unambiguous instruction’ to constitute ‘a ceremonial missive arsenic the typical of Elanus informing Qipco that we privation to merchantability the Idol’s Eye’, the lawyer argued.

Qipco argued the higher valuation by Elanus’ diamond adept was conscionable an effort to rise the merchantability price.

The proceeding continues.

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