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February 18, 2025Ownership battle for ‘Idol Eye’ diamond ends
Sheikh Hamad bin Abdullah Al Thani claimed he had a legal right to purchase the diamond through an investment company, Qipco, because the Al-Thani family offered it for sale in 2020. The diamond is owned by a foundation established by the late Sheikh Saud bin Mohammed Ali Al-Thani, who purchased the stone for £7 million in 2004.
The company that legally owns the Idol’s Eye, Elanus, which the family foundation owns, disputed the case because no firm ‘wish’ to sell the item had ever been established.
The Idol’s Eye is a 70.21-carat Golconda diamond with a blue tinge. It is shaped like an Old Mine cut, but it has nine main facets instead of eight. The diamond was unearthed in India more than 400 years ago and, according to legend, was kept as the eye of a secret idol in the Temple of Benghazi.
The value of the diamond was discussed during the case, with one expert suggesting £21 million.
