A Qatari royal, Sheikh Hamad bin Abdullah Al Thani, lost a legal battle over the 17th century Idol’s Eye diamond at London’s High Court. The diamond dispute involved Sheikh Saud bin Mohammed Al Thani’s relatives and highlighted differing valuations. The court ruled against QIPCO’s claim for ownership despite assertions of a sales agreement.
A significant ruling was handed down in London as a dispute involving the Qatari royal family and the 17th century Idol’s Eye diamond reached the High Court. Sheikh Hamad bin Abdullah Al Thani, related to Qatar’s ruler, sought ownership of the diamond, facing off against the relatives of the late art collector Sheikh Saud bin Mohammed Al Thani. The case was notably contentious, illustrating the complexities of royal inheritance and family agreements over valuable artifacts.
Sheikh Saud, who served as Qatar’s culture minister and was renowned for extensive art collection, acquired the Idol’s Eye diamond in the early 2000s. Following his death in 2014, the diamond, initially lent to QIPCO—led by Sheikh Hamad—became the center of a legal battle. There was an agreement that allowed QIPCO to purchase the diamond pending the consent of Elanus Holdings, a company connected to Sheikh Saud’s heirs.
Contentions regarding the diamond’s valuation emerged, with Elanus asserting the gem is worth approximately $27 million. QIPCO’s legal team argued a 2020 letter from Elanus’s attorney constituted a sales agreement for $10 million, but Elanus claimed the correspondence was erroneous. The case was ultimately dismissed by Judge Simon Birt, who ruled against QIPCO’s bid.
Judge Birt acknowledged the diamond’s storied history, mentioning its possible origins from a Golconda mine in Southern India and past ownership by Sultan Abdulhamid II of the Ottoman Empire. The controversy highlights the intricacies of art ownership, especially when royal legacies are involved, emphasizing differing valuations and interpretations among family members.
The High Court’s ruling underscores the challenges of asset ownership and valuation disputes within royal families. The Idol’s Eye diamond, with its rich history and significant financial implications, serves as a focal point for this case. Ultimately, the court decision reflects the complexity of familial agreements regarding inherited treasures and the legal interpretations that can arise from them.
Original Source: www.independent.co.uk
