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A stunning diamond and pearl necklace worn by Princess Diana is now up for auction—and could fetch a whopping $12 million, Us Weekly (opens in new tab) reports.
The Swan Lake Suite necklace, which was given its name because Diana wore it to that ballet, is now owned by a Ukrainian couple, who are now putting it up for auction. They originally purchased it for around $630,000, but they now say it has skyrocketed in value, according to The Sun (opens in new tab).
"Right now they are just entertaining offers," a spokesperson for the auction house Guernsey's told The Sun. "I can't cite prices but obviously you're aware of what it sold for previously. Markets change and I think the family feel that originally they picked it up for a bit of a song."
The necklace was originally created by Garrard, which was then the Crown Jeweler, and includes diamonds and South Sea pearls. Originally it was supposed to come with matching earrings, but they were not ready in time for Diana to wear them to the Royal Albert Hall in London in 1997, one of her last public appearances before her death. According to Guernsey's, Garrard asked for the necklace back to make sure the earrings matched. Just when they were about to return it to Diana, the princess was tragically killed in a car accident.
According to The Daily Mail, (opens in new tab) Garrard later sold the necklace and earrings to a British businessman, who then put them up for auction in 1999 with part of the proceeds going to the Diana Memorial Fund. An American collector then bought it, and later, a Texas businessman bought it to display in his store. This current auction is a big deal for collectors of royal memorabilia. "It is the general belief that these may well be the only substantial jewels worn by Diana that will ever be sold," Guernsey's website reads (opens in new tab).
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Megan Friedman is the former managing editor of the Newsroom at Hearst. She's worked at NBC and Time, and is a graduate of Northwestern's Medill School of Journalism.
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