Princess Diana's Bespoke Diamond and Pearl Jewelry Set Will Soon Be Up For Auction

​Following King Charles III’s recent coronation, a lavish diamond-and-pearl necklace and matching pair of earrings that once belonged to his first wife, Princess Diana, is now up for auction. The necklace was only worn once by Diana, Princess of Wales, at a ballet performance of Swan Lake at the Royal Albert Hall in London on June 3, 1997. Holding onto her royal-given title as the Patron of Dance, Diana held a deep reverence for ballet, making the event an important occasion for her. As one of her last public appearances, she garnered more attention from photographers than at any other public event except for her wedding. Photos of her from that night were shared worldwide and featured as the main cover story in People Magazine not once but twice, including its hardcover edition in 1998. Shortly after her evening at the ballet, the crown jeweler asked Diana to return the necklace as he had not yet completed the matching earrings. To ensure a perfect match, he needed the necklace in his possession. Although the earrings were ready, the complete set had not yet been sent to her when she tragically lost her life in a car accident in Paris less than three months later.

The Swan Lake Suite 

During her tenure as Princess of Wales, Diana did not own her personal jewelry but wore the jewelry lent to her by the crown. The diamond-and-pearl earrings and necklace set, now referred to as The Swan Lake Suite, was custom designed by the princess in collaboration with Garrard, a luxury jewelry company that was the official jeweler of the British crown until 2007. Her bespoke necklace is crafted from materials she loved, boasting five 12mm South Sea pearls for which the princess had a deep fondness, and a whopping 178 brilliant-cut and marquise-shaped diamonds in total, equaling 51 carats! The glamorous earrings she never had the privilege of wearing feature two matching South Sea pearls and six brilliant-cut and marquise-shaped diamonds apiece. Both pieces in the Swan Lake Suite are mounted in platinum settings. Creating her custom jewelry pieces symbolized her autonomy and resilience, and the significance of wearing this personally customized diamond and pearl jewelry on such a momentous occasion meant a lot to her. The jewelry set was said to have been a gift from her companion, Dodi al-Fayed, the heir of Harrods, a luxury department store in London, who also died in the car crash.

​Changing Hands

Following her untimely passing, the crown jeweler faced a predicament—how to recover the expenses incurred. Eventually, Diana's family granted permission for the jewelry to be sold, on the condition that an allocation of the proceeds would be donated to Unicef in honor of Princess Diana's dedication to the abolition of landmines. In 1999, a British lord acquired the necklace and earrings as a gift for his wife. He disclosed that his wife realized that she would never feel comfortable wearing them due to the lingering impact of Diana's tragic demise. Subsequently, the jewelry suite was sold for close to a million dollars to a Texan businessman, James McIngvale from Houston, whose daughter wore the earrings and necklace on her wedding day. Then, McIngvale sold the set in 2010 to the current owner, Mark Ginzburg, a Ukrainian real estate developer. The Ukrainian family who owns the suite is auctioning the necklace and earrings to raise money to help rebuild their war-ravaged country.

​Up for Auction

The Swan Lake Suite necklace and earrings set will be auctioned on June 27 by Guernsey’s auction house at The Pierre Hotel in New York City, coincidentally following the 26th anniversary of Diana's memorable appearance wearing the necklace at Royal Albert Hall. The jewelry is expected to sell for a sum ranging from $5 million to $15 million. This will be the only significant jewelry belonging to Diana that will ever be available for sale, as her family has no intention of parting with other cherished possessions from their beloved mother.

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