As glamorous as the Beatles in her day, the late Princess Margaret proved her enduring place in the public's affection when items from her jewellery collection fetched 100 times more than expected at an auction on Tuesday, netting £9.6 million.
Her son Lord Linley and his sister Lady Sarah Chatto had agreed that treasured mementoes should go under the hammer to pay inheritance tax on her estate.
At the Christie's sale royal enthusiasts, some of them bidding anonymously, rushed to scoop up souvenirs of an aristocratic life. Within minutes of the opening a frantic price war was on for lot one, a pearl and ruby necklace thought to be worth £1,500. The first piece of jewellery ever given to Margaret, it eventually went for more than £25,000 over its estimated price because of its sentimental value.
One of the high points of the day came when the Poltimore tiara, which the Princess wore on her wedding day was auctioned. Made in 1870 for Lady Poltimore, wife of the royal treasurer, it was bought by Queen Elizabeth's sister for £5,500. One bidder paid £926,400 to take home the stunning piece, which was valued at £200,000.
Meanwhile, the Princess' five-string pearl choker, an 18th-birthday gift from her grandmother Queen Mary, sold for £276,800, well over its £20,000 starting price.
The auction, which continued on Wednesday, has not been without controversy as some of Margaret's friends have expressed concern that it was incompatible with her status. Lord Linley is thought to have authorised the sale with a heavy heart after finding no other means of paying the death duties.
Photo: © Alphapress.com
Photo: © Alphapress.com
Photo: © Alphapress.com
