Nassak Diamond
Encyclopedia
The Nassak Diamond is a large, 43.38 carats (8.7 g) diamond
that originated as a larger diamond in the 15th century in India. Found in the Amaragiri mine located in Mahbubnagar
, Andhra Pradesh
, India, and originally cut in India, the diamond adorned the statue of Shiva in the Trimbakeshwar Shiva Temple, near Nashik, in the state of Maharashtra
, India
from at least 1500 to 1817. The British East India Company
acquired the diamond through the Third Anglo-Maratha War
and sold it to British jewelers Rundell and Bridge
in 1818. Rundell and Bridge recut the diamond in 1818, after which it made its way into the handle
of the 1st Marquess of Westminster
's dress sword.
The Nassak Diamond was imported into the United States in 1927, and was considered one of the first 24 great diamonds of the world by 1930. American jeweler Harry Winston
acquired the Nassak Diamond in 1940 in Paris, France and recut it to its present flawless 43.38 carats (8.7 g) emerald cut shape. Winston sold the diamond to a New York jewelry firm in 1942. Mrs. William B. Leeds of New York received the gem in 1944 as a sixth anniversary present and wore it in a ring. The Nassak Diamond was last sold at an auction in New York in 1970 to Edward J. Hand, a 48-year old trucking firm executive from Greenwich, Connecticut
.
diamond. From at least 1500 to 1817, the Nassak Diamond adorned the statue of Shiva in the Trimbakeshwar Shiva Temple, near Nashik (Nassak), India on the upper Godavari River
. As priests worshiped Shiva through the statue, the diamond eventually acquired its name from its long term proximity to Nashik.
In 1817, the British East India Company
and the Maratha Empire
in India
began the Third Anglo-Maratha War
. During the Maratha war, the Nassak Diamond disappeared from the Shiva statue. The war ended in 1818 and the British East India Company was left decisively in control of most of India.
The Nassak Diamond quickly resurfaced in the possession of Baji Rao II
the last independent Indian Peshwa
Prince, who handed over the diamond to an English colonel named J. Briggs. In turn, Briggs delivered the diamond to Francis Rawdon-Hastings
, the 1st Marquess of Hastings who had conducted the military operations against the Peshwa. Rawdon-Hastings delivered the diamond to the East India Company as part of the spoils
of the Maratha war. The East India Company then sent the Nassak Diamond to England, to be sold on the London diamond market in 1818.
At the London diamond market, the Nassak Diamond was presented as an approximately 89 carats (17.8 g) diamond of great purity "but of bad form," having a somewhat pear-shape. The diamond further was characterized as a "rudely-faceted, lustreless mass." Despite its appearance, the diamond was sold for about 3,000 pounds (equivalent today to £) to Rundell and Bridge
, a British jewelry firm based in London
.
Rundell and Bridge held onto the diamond for the next 13 years. During that time, the jewelry firm instructed its diamond cutter
"to keep as closely as possible to the traces of the Hindu cutter, 'amending his defects, and accommodating the pattern to the exigencies of the subject matter.'" The recut by Rundell and Bridge from 89.75 carats (17,950 mg) to 78.625 carats (15,725 mg) resulted of a loss of no more than 10 percent of the original weight of the diamond.
In 1831, Rundell and Bridge sold the diamond to the Emanuel Brothers for about 7,200 pounds (today about £). Six years later in 1837, the Emanuel Brothers sold the Nassak Diamond at a public sale to Robert Grosvenor
, the 1st Marquess of Westminster. At one point, the Marquess mounted the diamond in the handle
of his dress sword. In 1886, the diamond was valued at between 30,000 and 40,000 pounds (today between £ and £), due in part to its vast gain in brilliancy from the recut by Rundell and Bridge.
free, since the diamond was determined to be an artistic antiquity produced more than one hundred years prior to the date of importation. However, E. F. Bendler, an American wholesaler and dealer in diamonds and a rival of Mauboussin, filed a protest that resulted in a lawsuit to determine whether a tax should be imposed on the diamond's entry into the United States. By November 1927, Mauboussin considered selling the diamond to friends of General Primo de Rivera
, who planned to give the diamond to the dictator on the occasion of his forthcoming investiture as marshal of Spain
. That sale never materialized and the lawsuit continued. The diamond was nearly lost in a theft that occurred in January 1929, when four gunmen robbed the Park Avenue
jewelry store where the Nassak Diamond was being kept. However, the thieves missed finding the diamond because it was being stored in a soiled envelope.
After the first robbery attempt, Mauboussin's jewellery firm opened a branch in New York City on October 1, 1929, only to be met by the Wall Street Crash of 1929
at the end of October. To compound matters, the same gang of international robbers tried to steal the Nassak Diamond again in May 1930, but once again missed it.
Prior to the outcome of the lawsuit, the insured diamond was valued between US$400,000 and $500,000 (allowing for inflation, this would now be $ and $). At the time the lawsuit was pending, imported diamonds that were cut and suitable for use in the manufacture of jewelry, without actually being set as jewelry were subject to an ad valorem
tax of 20% its value. However, artistic antiquities produced more than one hundred years prior to the date of importation could be imported into the United States duty free; that is to say, without having to pay a 20% tax. The final decision of the lawsuit was released on June 4, 1930. In that decision, the court determined that the unset 78.625 carats (15,725 mg) Nassak Diamond was not an artistic antiquity and was suitable for use in manufacture of jewelry. In particular, the court said that the 1930 Nassak Diamond was nothing more than "a large diamond, cut in an ordinary way." As a result, the importer owed an ad valorem tax of 20% of the diamond's value under U.S. Tariff Act of 1922
.
in Chicago, Illinois, the "Official guide book of the fair, 1933" described the diamond as a flawless, blue-
white stone with a reputation of being "the finest diamond outside crown jewels
collections."
In 1940, American jeweler Harry Winston
acquired the Nassak Diamond in Paris, France and recut it to its present flawless 43.38 carats (8.7 g) emerald cut shape. Winston sold the diamond to a New York jewelry firm in 1942. In 1944, Commander William Bateman Leeds, Jr., millionaire son of the inventor of a tin plating process and friend of George Mauboussin, purchased the diamond for his wife, Reflexion Olive Leeds (born Olive Hamilton), and gave it to her in a set ring as a sixth anniversary present.
gem laboratory to produce a Diamond Grading Report. In that same year, the Nassak Diamond was placed in the hands of J. & S.S. DeYoung, a then 100-year old estate jewelry house located in New York. The Gemological Institute of America
Diamond Grading Report that came with the diamond indicated that it was Internally Flawless.
In early April 1970, the diamond was rated one of the thirty great stones of the world and placed on display at Parke-Bernet Galleries in New York City. On April 16, 1970, the diamond was sold at auction for $500,000 (allowing for inflation, this would now be $) to Edward J. Hand, a then 48-year old trucking firm executive from Greenwich, Connecticut
. This was the second highest auction price ever for a diamond. Six years later, the diamond was placed on display in November 1976 at a charity benefit as a means to attract donors to that benefit.
purchased a McDonnell Douglas DC-9
airplane from KLM; two months later, the plane was in the United Kingdom with the name "Nassak Diamond".
Diamond
In mineralogy, diamond is an allotrope of carbon, where the carbon atoms are arranged in a variation of the face-centered cubic crystal structure called a diamond lattice. Diamond is less stable than graphite, but the conversion rate from diamond to graphite is negligible at ambient conditions...
that originated as a larger diamond in the 15th century in India. Found in the Amaragiri mine located in Mahbubnagar
Mahbubnagar district
Mahabubnagar or Mahboobnagar , also known as Palamooru is a district in the Andhra Pradesh state of India, in the Telangana region. It is named after its largest city and district headquarters, Mahabubnagar.It is the second largest district in the state in terms of area...
, Andhra Pradesh
Andhra Pradesh
Andhra Pradesh , is one of the 28 states of India, situated on the southeastern coast of India. It is India's fourth largest state by area and fifth largest by population. Its capital and largest city by population is Hyderabad.The total GDP of Andhra Pradesh is $100 billion and is ranked third...
, India, and originally cut in India, the diamond adorned the statue of Shiva in the Trimbakeshwar Shiva Temple, near Nashik, in the state of Maharashtra
Maharashtra
Maharashtra is a state located in India. It is the second most populous after Uttar Pradesh and third largest state by area in India...
, India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
from at least 1500 to 1817. The British East India Company
British East India Company
The East India Company was an early English joint-stock company that was formed initially for pursuing trade with the East Indies, but that ended up trading mainly with the Indian subcontinent and China...
acquired the diamond through the Third Anglo-Maratha War
Third Anglo-Maratha War
The Third Anglo-Maratha War was the final and decisive conflict between the British East India Company and the Maratha Empire in India. The war left the Company in control of most of India. It began with an invasion of Maratha territory by 110,400 British East India Company troops, the largest...
and sold it to British jewelers Rundell and Bridge
Rundell and Bridge
Rundell & Bridge were a British jewellery firm based in London, also trading under the more familiar title Rundell, Bridge and Rundell.Philip Rundell and John Bridge were appointed Royal Goldsmiths, Silversmiths, Jewellers and Medallists in 1797 and held the Royal Warrant until 1843.Amongst their...
in 1818. Rundell and Bridge recut the diamond in 1818, after which it made its way into the handle
Hilt
The hilt of a sword is its handle, consisting of a guard,grip and pommel. The guard may contain a crossguard or quillons. A ricasso may also be present, but this is rarely the case...
of the 1st Marquess of Westminster
Robert Grosvenor, 1st Marquess of Westminster
Robert Grosvenor, 1st Marquess of Westminster, KG was the son of the 1st Earl Grosvenor, whom he succeeded in 1802 as 2nd Earl Grosvenor. He was created Marquess of Westminster in 1831. He was an English Member of Parliament and an ancestor of the modern day Dukes of Westminster...
's dress sword.
The Nassak Diamond was imported into the United States in 1927, and was considered one of the first 24 great diamonds of the world by 1930. American jeweler Harry Winston
Harry Winston
Harry Winston was an American jeweler. He donated the Hope Diamond to the Smithsonian Institution in 1958 after owning it for a decade, and traded the Portuguese Diamond to the Smithsonian in 1963.-History:...
acquired the Nassak Diamond in 1940 in Paris, France and recut it to its present flawless 43.38 carats (8.7 g) emerald cut shape. Winston sold the diamond to a New York jewelry firm in 1942. Mrs. William B. Leeds of New York received the gem in 1944 as a sixth anniversary present and wore it in a ring. The Nassak Diamond was last sold at an auction in New York in 1970 to Edward J. Hand, a 48-year old trucking firm executive from Greenwich, Connecticut
Greenwich, Connecticut
Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2010 census, the town had a total population of 61,171. It is home to many hedge funds and other financial service companies. Greenwich is the southernmost and westernmost municipality in Connecticut and is 38+ minutes ...
.
History
The Nassak Diamond originated in the 15th century in India. Although the date of the original cutting is unknown, the original cutting was performed in India and had sacrificed everything to size while giving the diamond a form and appearance similar to that of the Koh-i-NoorKoh-i-Noor
The Kōh-i Nūr which means "Mountain of Light" in Persian, also spelled Koh-i-noor, Koh-e Noor or Koh-i-Nur, is a 105 carat diamond that was once the largest known diamond in the world. The Kōh-i Nūr originated in the state of Andhra Pradesh in India along with its double, the Darya-ye Noor...
diamond. From at least 1500 to 1817, the Nassak Diamond adorned the statue of Shiva in the Trimbakeshwar Shiva Temple, near Nashik (Nassak), India on the upper Godavari River
Godavari River
The Godavari is a river that runs from western to southern India and is considered to be one of the big river basins in India. With a length of 1465 km, it is the second longest river in India , that runs within the country and also the longest river in South India...
. As priests worshiped Shiva through the statue, the diamond eventually acquired its name from its long term proximity to Nashik.
In 1817, the British East India Company
British East India Company
The East India Company was an early English joint-stock company that was formed initially for pursuing trade with the East Indies, but that ended up trading mainly with the Indian subcontinent and China...
and the Maratha Empire
Maratha Empire
The Maratha Empire or the Maratha Confederacy was an Indian imperial power that existed from 1674 to 1818. At its peak, the empire covered much of South Asia, encompassing a territory of over 2.8 million km²....
in India
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
began the Third Anglo-Maratha War
Third Anglo-Maratha War
The Third Anglo-Maratha War was the final and decisive conflict between the British East India Company and the Maratha Empire in India. The war left the Company in control of most of India. It began with an invasion of Maratha territory by 110,400 British East India Company troops, the largest...
. During the Maratha war, the Nassak Diamond disappeared from the Shiva statue. The war ended in 1818 and the British East India Company was left decisively in control of most of India.
Baji Rao II
Baji Rao II was the last Peshwa of the Maratha Confederacy, and governed from 1796 to 1818. His reign was marked by confrontations with the British.-Biography:...
the last independent Indian Peshwa
Peshwa
A Peshwa is the titular equivalent of a modern Prime Minister. Emporer Shivaji created the Peshwa designation in order to more effectively delegate administrative duties during the growth of the Maratha Empire. Prior to 1749, Peshwas held office for 8-9 years and controlled the Maratha army...
Prince, who handed over the diamond to an English colonel named J. Briggs. In turn, Briggs delivered the diamond to Francis Rawdon-Hastings
Francis Rawdon-Hastings, 1st Marquess of Hastings
Francis Edward Rawdon-Hastings, 1st Marquess of Hastings KG PC , styled The Honourable Francis Rawdon from birth until 1762 and as The Lord Rawdon between 1762 and 1783 and known as The Earl of Moira between 1793 and 1816, was an Irish-British politician and military officer who served as...
, the 1st Marquess of Hastings who had conducted the military operations against the Peshwa. Rawdon-Hastings delivered the diamond to the East India Company as part of the spoils
Looting
Looting —also referred to as sacking, plundering, despoiling, despoliation, and pillaging—is the indiscriminate taking of goods by force as part of a military or political victory, or during a catastrophe, such as during war, natural disaster, or rioting...
of the Maratha war. The East India Company then sent the Nassak Diamond to England, to be sold on the London diamond market in 1818.
At the London diamond market, the Nassak Diamond was presented as an approximately 89 carats (17.8 g) diamond of great purity "but of bad form," having a somewhat pear-shape. The diamond further was characterized as a "rudely-faceted, lustreless mass." Despite its appearance, the diamond was sold for about 3,000 pounds (equivalent today to £) to Rundell and Bridge
Rundell and Bridge
Rundell & Bridge were a British jewellery firm based in London, also trading under the more familiar title Rundell, Bridge and Rundell.Philip Rundell and John Bridge were appointed Royal Goldsmiths, Silversmiths, Jewellers and Medallists in 1797 and held the Royal Warrant until 1843.Amongst their...
, a British jewelry firm based in London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
.
Rundell and Bridge held onto the diamond for the next 13 years. During that time, the jewelry firm instructed its diamond cutter
Diamond cutting
Diamond cutting is the art, skill and, increasingly, science of changing a diamond from a rough stone into a faceted gem. Cutting diamond requires specialized knowledge, tools, equipment, and techniques because of its extreme difficulty....
"to keep as closely as possible to the traces of the Hindu cutter, 'amending his defects, and accommodating the pattern to the exigencies of the subject matter.'" The recut by Rundell and Bridge from 89.75 carats (17,950 mg) to 78.625 carats (15,725 mg) resulted of a loss of no more than 10 percent of the original weight of the diamond.
In 1831, Rundell and Bridge sold the diamond to the Emanuel Brothers for about 7,200 pounds (today about £). Six years later in 1837, the Emanuel Brothers sold the Nassak Diamond at a public sale to Robert Grosvenor
Robert Grosvenor, 1st Marquess of Westminster
Robert Grosvenor, 1st Marquess of Westminster, KG was the son of the 1st Earl Grosvenor, whom he succeeded in 1802 as 2nd Earl Grosvenor. He was created Marquess of Westminster in 1831. He was an English Member of Parliament and an ancestor of the modern day Dukes of Westminster...
, the 1st Marquess of Westminster. At one point, the Marquess mounted the diamond in the handle
Hilt
The hilt of a sword is its handle, consisting of a guard,grip and pommel. The guard may contain a crossguard or quillons. A ricasso may also be present, but this is rarely the case...
of his dress sword. In 1886, the diamond was valued at between 30,000 and 40,000 pounds (today between £ and £), due in part to its vast gain in brilliancy from the recut by Rundell and Bridge.
Mauboussin and the lawsuit
In 1922, George Mauboussin had become the named partner of "Mauboussin, Successeur de Noury," a French jewellery house that traced its roots to its founding by M. Rocher in 1827. In March 1927, the Duke of Westminster used U.S. importers Mayers, Osterwald & Muhlfeld to sell the diamond to Parisian jeweler George Mauboussin, who was living in the United States at the time. Mauboussin's importation of the diamond into the United States was taxTariff
A tariff may be either tax on imports or exports , or a list or schedule of prices for such things as rail service, bus routes, and electrical usage ....
free, since the diamond was determined to be an artistic antiquity produced more than one hundred years prior to the date of importation. However, E. F. Bendler, an American wholesaler and dealer in diamonds and a rival of Mauboussin, filed a protest that resulted in a lawsuit to determine whether a tax should be imposed on the diamond's entry into the United States. By November 1927, Mauboussin considered selling the diamond to friends of General Primo de Rivera
Miguel Primo de Rivera
Miguel Primo de Rivera y Orbaneja, 2nd Marquis of Estella, 22nd Count of Sobremonte, Knight of Calatrava was a Spanish dictator, aristocrat, and a military official who was appointed Prime Minister by the King and who for seven years was a dictator, ending the turno system of alternating...
, who planned to give the diamond to the dictator on the occasion of his forthcoming investiture as marshal of Spain
Spain
Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...
. That sale never materialized and the lawsuit continued. The diamond was nearly lost in a theft that occurred in January 1929, when four gunmen robbed the Park Avenue
Park Avenue (Manhattan)
Park Avenue is a wide boulevard that carries north and southbound traffic in New York City borough of Manhattan. Through most of its length, it runs parallel to Madison Avenue to the west and Lexington Avenue to the east....
jewelry store where the Nassak Diamond was being kept. However, the thieves missed finding the diamond because it was being stored in a soiled envelope.
After the first robbery attempt, Mauboussin's jewellery firm opened a branch in New York City on October 1, 1929, only to be met by the Wall Street Crash of 1929
Wall Street Crash of 1929
The Wall Street Crash of 1929 , also known as the Great Crash, and the Stock Market Crash of 1929, was the most devastating stock market crash in the history of the United States, taking into consideration the full extent and duration of its fallout...
at the end of October. To compound matters, the same gang of international robbers tried to steal the Nassak Diamond again in May 1930, but once again missed it.
Prior to the outcome of the lawsuit, the insured diamond was valued between US$400,000 and $500,000 (allowing for inflation, this would now be $ and $). At the time the lawsuit was pending, imported diamonds that were cut and suitable for use in the manufacture of jewelry, without actually being set as jewelry were subject to an ad valorem
Ad valorem tax
An ad valorem tax is a tax based on the value of real estate or personal property. It is more common than a specific duty, a tax based on the quantity of an item, such as cents per kilogram, regardless of price....
tax of 20% its value. However, artistic antiquities produced more than one hundred years prior to the date of importation could be imported into the United States duty free; that is to say, without having to pay a 20% tax. The final decision of the lawsuit was released on June 4, 1930. In that decision, the court determined that the unset 78.625 carats (15,725 mg) Nassak Diamond was not an artistic antiquity and was suitable for use in manufacture of jewelry. In particular, the court said that the 1930 Nassak Diamond was nothing more than "a large diamond, cut in an ordinary way." As a result, the importer owed an ad valorem tax of 20% of the diamond's value under U.S. Tariff Act of 1922
Fordney-McCumber Tariff
The Fordney–McCumber Tariff of 1922 raised American tariffs in order to protect factories and farms. Congress displayed a pro-business attitude in passing the ad valorem tariff and in promoting foreign trade through providing huge loans to Europe, which in turn bought more American goods...
.
Harry Winston's influence
In 1930, the Nassak Diamond had a somewhat elongated triangle form with rounded corners. The depth of one side of the triangle was thicker than the other. The diamond was "without flaw, unusually brilliant, and so cut as to well display its clear, crystal brilliancy." While on exhibit at the 1933 World's FairCentury of Progress
A Century of Progress International Exposition was the name of a World's Fair held in Chicago from 1933 to 1934 to celebrate the city's centennial. The theme of the fair was technological innovation...
in Chicago, Illinois, the "Official guide book of the fair, 1933" described the diamond as a flawless, blue-
white stone with a reputation of being "the finest diamond outside crown jewels
Crown Jewels of the United Kingdom
The collective term Crown Jewels denotes the regalia and vestments worn by the sovereign of the United Kingdom during the coronation ceremony and at other state functions...
collections."
In 1940, American jeweler Harry Winston
Harry Winston
Harry Winston was an American jeweler. He donated the Hope Diamond to the Smithsonian Institution in 1958 after owning it for a decade, and traded the Portuguese Diamond to the Smithsonian in 1963.-History:...
acquired the Nassak Diamond in Paris, France and recut it to its present flawless 43.38 carats (8.7 g) emerald cut shape. Winston sold the diamond to a New York jewelry firm in 1942. In 1944, Commander William Bateman Leeds, Jr., millionaire son of the inventor of a tin plating process and friend of George Mauboussin, purchased the diamond for his wife, Reflexion Olive Leeds (born Olive Hamilton), and gave it to her in a set ring as a sixth anniversary present.
Present information
In early 1964, gemologist G. Robert (Bob) Crowningshield evaluated the Nassak Diamond at the Gemological Institute of AmericaGemological Institute of America
The Gemological Institute of America, or GIA, is a nonprofit institute dedicated to research and education in the field of gemology and the jewelry arts. Founded in 1931, GIA's mission is to protect all buyers and sellers of gemstones by setting and maintaining the standards used to evaluate...
gem laboratory to produce a Diamond Grading Report. In that same year, the Nassak Diamond was placed in the hands of J. & S.S. DeYoung, a then 100-year old estate jewelry house located in New York. The Gemological Institute of America
Gemological Institute of America
The Gemological Institute of America, or GIA, is a nonprofit institute dedicated to research and education in the field of gemology and the jewelry arts. Founded in 1931, GIA's mission is to protect all buyers and sellers of gemstones by setting and maintaining the standards used to evaluate...
Diamond Grading Report that came with the diamond indicated that it was Internally Flawless.
In early April 1970, the diamond was rated one of the thirty great stones of the world and placed on display at Parke-Bernet Galleries in New York City. On April 16, 1970, the diamond was sold at auction for $500,000 (allowing for inflation, this would now be $) to Edward J. Hand, a then 48-year old trucking firm executive from Greenwich, Connecticut
Greenwich, Connecticut
Greenwich is a town in Fairfield County, Connecticut, United States. As of the 2010 census, the town had a total population of 61,171. It is home to many hedge funds and other financial service companies. Greenwich is the southernmost and westernmost municipality in Connecticut and is 38+ minutes ...
. This was the second highest auction price ever for a diamond. Six years later, the diamond was placed on display in November 1976 at a charity benefit as a means to attract donors to that benefit.
Trivia
In December 1982, BMI airlinesBmi (airline)
British Midland Airways Limited , is an airline based at Donington Hall in Castle Donington in the United Kingdom, close to East Midlands Airport, and a fully owned subsidiary of Lufthansa...
purchased a McDonnell Douglas DC-9
McDonnell Douglas DC-9
The McDonnell Douglas DC-9 is a twin-engine, single-aisle jet airliner. It was first manufactured in 1965 with its maiden flight later that year. The DC-9 was designed for frequent, short flights. The final DC-9 was delivered in October 1982.The DC-9 was followed in subsequent modified forms by...
airplane from KLM; two months later, the plane was in the United Kingdom with the name "Nassak Diamond".