Idol's Eye Diamond: The battle for a precious diamond between 2 members of Qatar's royal family has now reached the High Court of London.

Qatar Royal Family : Sheikh Hamad bin Abdullah Al Thani, cousin of Qatar's ruler Sheikh Tamim bin Hamad Al Thani, is a famous art collector. His collection includes many prized and rare things in the world. One such rare diamond "Idol's Eye" has sparked a war with one of his close relatives. The case is about the purchase of this precious diamond worth crores and the dispute over its exact price.

The case of the battle over the prized diamond

QIPCO, a company owned by Sheikh Hamad bin Abdullah Al Thani, cousin of Qatar's Sheikh Tamim bin Hamad Al Thani, owns a diamond named 'Idols Eye'. The price of this diamond is in millions of dollars. The diamond was loaned to him by Sheikh Saud, who was Qatar's culture minister between 1997 and 2005. He was also one of the world's most prolific art collectors. He bought the Idols Eye diamond in the early 2000s.

While lending the diamond, he also made a contract that if his family wants, Sheikh Hamad bin Abdullah Al Thani's company QIPCO can buy this diamond. Sheikh Saud died in 2014.

War on the price of diamonds

Sheikh Saud's company Elanus Holdings gave this diamond to QIPCO. Alenas Holdings is now owned by the Liechtenstein-based Al Thani Foundation, whose beneficiary is Sheikh Saud's widow and three children.

Now QIPCO wants to take this diamond for $ 10 million and on this issue, QIPCO's lawyers say that the lawyer of the Al Thani Foundation had entered into an agreement to sell the Idol Eye diamond for $ 10 million in a 2020 letter. But Elanus Holdings says that the value of this diamond is being underestimated and its true value is $ 27 million.

On the other hand, Elanus argues that the letter was sent by mistake. The matter has now reached the High Court of London regarding this dispute. Now Elanus lawyer Saad Hussain has told the court that Sheikh Saud's son, Sheikh Hamad bin Saud Al Thani, is asking for the right price for the diamond while other beneficiaries of the foundation were not consulted about it.