A Ukrainian family is set to auction off a jewelry set previously owned by Princess Diana, according to a report by the Telegraph on May 10.
The jewelry set consists of a necklace made of 178 diamonds weighing a total of 51 carats, as well as five South Sea pearls measuring 12mm each and matching earrings.
The necklace is believed to have been a gift from Dodi Al-Fayed, a billionaire’s son with whom Princess Diana had a relationship after her divorce from Prince Charles in 1996. Princess Diana wore the necklace at her last official public appearance at the Gala performance of Swan Lake in June 1997, and it’s also known as the “Swan Lake Suite.”
The jewelry set was commissioned to be made into earrings to accompany the necklace, but after Princess Diana’s tragic death in August 1997, the earrings were never made and the set was left incomplete.
In 1999, American businessman Jim McIngvale purchased the necklace and earrings set for around $1 million from Princess Diana’s estate. However, during the 2008 financial crisis, the jewelry set was reportedly acquired by a Ukrainian family who were fans of the British royal family.
After being exhibited in London, the jewelry set is now set to be auctioned off in New York on June 27. Experts from the auction house, Guernsey’s, have estimated the set could fetch between $4 million and $11 million.
According to the Telegraph, the Ukrainian family has decided to auction the jewelry set due to financial difficulties caused by the war in Ukraine. They have also pledged to donate a portion of the proceeds to reconstruction efforts in the country.
Alan Ettinger, the president of Guernsey’s, said the family’s decision to sell the set was motivated by their desire to contribute to Ukraine’s reconstruction efforts in the current difficult circumstances.
The Telegraph also noted that this is the first time any of Princess Diana’s personal jewelry has been auctioned off. Most of the jewelry she wore during her reign belonged to the royal family.