Auction of Royal Princess Margaret Brings in $18 Million on First Night
6/20/2006
An auction of some 800 personal items once belonging to Princess Margaret was held at Christie`s in London and brought in $18 million on the first night alone. Among the items sold, a wedding tiara worn by the princess at her wedding to Lord Snowdon in 1960 brought in 1.7 million dollars. Also available were diamond-encrusted brooches, pearl earrings and designer watches, among other things. A Faberge clock, a gift from her grandmother, Queen Mary, was the highlight, selling for $2.2 million. Many items sold to collectors and fans of British royalty for much more than the estimated values, some as much as 100 times the value. The items are being sold to pay the inheritance tax on Princess Margaret`s estate, says her children, David Linley and Sarah Chatto.
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An auction of some 800 personal items once belonging to Princess Margaret was held at Christie`s in London and brought in $18 million on the first night alone. Among the items sold, a wedding tiara worn by the princess at her wedding to Lord Snowdon in 1960 brought in 1.7 million dollars. Also available were diamond-encrusted brooches, pearl earrings and designer watches, among other things. A Faberge clock, a gift from her grandmother, Queen Mary, was the highlight, selling for $2.2 million. Many items sold to collectors and fans of British royalty for much more than the estimated values, some as much as 100 times the value. The items are being sold to pay the inheritance tax on Princess Margaret`s estate, says her children, David Linley and Sarah Chatto.
