Prıncess Dıana Necklace Could Fetch $15M

A South Sea pearl and diamond necklace with matching earrings once owned by Princess Diana will go under the hammer at Guernsey’s auction house in New York on June 27.

Named the Swan Lake Suite, it was created for Diana by Garrard, then British crown jeweler. The completed suite was intended as a gift from Egyptian film producer Dodi Fayed to Diana, the New York auction house said in a statement. Its estimate is $5 million to $15 million, an unusually broad range.

Ettinger has handled the sale of the Swan Lake Suite since 1999, when he was contacted by David Vyvyan Thomas, then crown jeweler for the British monarchy and an employee of Garrard. It was first bought at a Guernsey’s public auction in 1999 for under $1 million, Ettinger said. It was sold again in 2009 privately to its current owner, “a prominent family from Ukraine.” Ettinger wouldn’t reveal the price the family paid.

The platinum necklace is mounted with brilliant-cut diamonds in a scroll-motif center. Suspended from the necklace are five cultured South Sea pearls and seven marquise diamonds in a fringe drop design. The necklace is completed with a brilliant-cut diamond, two-row collet backchain that tapers to a single row. The necklace comprises a total of 178 diamonds. Diana wore the necklace on June 3, 1997, at the gala opening of Great Britain’s ballet season for the performance of Swan Lake at London’s Royal Albert Hall.

The auction will take place on June 27 at the Pierre Hotel. The merchandise will be on display at the venue from June 24 to 26.

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