As part of Sotheby’s Hong Kong’s Magnificent Jewels auction on July 10, the royal jewel will make a return. The bracelet has been marked as “from the collection of a Gentleman” and is estimated to go for $49,000 – $64,500 (£39,000 – £51,500).
The royal jewel is set to be a highlight of Sotheby’s return to live auctions this summer following the coronavirus pandemic.
Since the crisis began, Sotheby’s has held 13 online jewellery sales, making a total of over $18.4 million (£14.8 million).
Princess Margaret was known for her love of sparkling jewellery.
The Queen’s sister had an impressive collection which included historic royal treasures and Art Deco pieces signed by prestigious French houses.
In 2006, the public saw a glimpse of Princess Margaret’s jewels as Christie’s auctioned 192 pieces of her jewellery as part of a reportedly controversial £14 million sale of her belongings.
The Princess’ children, the Earl of Snowdon and Lady Sarah Chatto, said the auction was necessary to fund their own children’s education and to settle a £3 million inheritance bill left when Princess Margaret died in 2002.
Princess Margaret’s Poltimore tiara, which she wore at her wedding, sold in the jewellery auction.
It was estimated at £200,000 but sold for £926,400.
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Although Princess Margaret was photographed wearing the bracelet several times through her life, it is not known who gave it to her.
The Princess kept the bracelet in its original form even though she remounted several other pieces of antique diamond jewellery into more modern styles.
At Christie’s, the bracelet sold for £48,000 which was six times its original estimate of £6,000 – £8,000.
The bracelet reappeared in 2017 at an auction at Boningtons in Epping, Essex.
This was alongside 12 other royal pieces from the Christie’s sale with each accompanied by a wax-sealed Certificate of Provenance from Kensington Palace.
At the Sotheby’s Hong Kong auction in July, the bracelet will be going for sale for a third time.
The house’s 13 jewellery sales during the coronavirus crisis have set several records.
This includes a record $3.7 million (£2.9 million) total for an online jewellery sale.
It also includes a new record for the most expensive jewel ever sold in an online-only sale.
This was when a Cartier Tutti Frutti bracelet sold for $1.34 million (£1 million) in April.