A cousin of Qatar’s ruler has lost a legal dispute in London’s High Court over ownership of the historic 17th-century "Idol’s Eye" diamond, a gem valued at millions of dollars, according to a

report by Reuters.

The lawsuit was filed by Sheikh Hamad Bin Abdullah Al-Thani, a renowned art collector and cousin of Qatar’s ruler Sheikh Tamim Bin Hamad Al-Thani. His claim was opposed by the family of the late Sheikh Saud Bin Mohammed Al-Thani, Qatar’s former culture minister.

Sheikh Saud, who served as culture minister from 1997 to 2005, was an avid collector and acquired the 70-carat diamond in the early 2000s. Shortly before his passing in 2014, he lent the gemstone to the Qatar Investment and Projects Development Holding Company (QIPCO), led by Sheikh Hamad Bin Abdullah.

Under the terms of the agreement, QIPCO was granted an option to purchase the diamond, provided that Elanus Holdings, a company linked to Sheikh Saud’s family, approved the sale. Elanus is ultimately controlled by the Liechtenstein-based Al-Thani Foundation, whose beneficiaries include Sheikh Saud’s widow and children.

The legal dispute centered around a 2020 letter from the foundation’s lawyer, which QIPCO interpreted as an agreement to sell the diamond for $10 million. However, Elanus argued that the letter was sent in error. QIPCO sought a court order compelling Elanus to complete the sale, but Judge Simon Birt dismissed the claim on Thursday.

Throughout the case, the two parties contested the diamond’s true value. Elanus’ legal team presented an expert’s valuation placing the gem at approximately $27 million.

In his ruling, Judge Birt noted that the diamond is believed to have originated from a mine in Golconda, Southern India, although its full history remains uncertain. The gem is also said to have been previously owned by Sultan Abdulhamid II, one of the last rulers of the Ottoman Empire.

Neither QIPCO nor Elanus’ legal representatives have issued a comment following the court’s decision. Photo by Steven Depolo, Wikimedia commons.