Bidding for the piece opened on January 6, with a information value of £80,000 to £120,000. Despite being “a truly amazing price that attests to the power of royalty”, its promoting value, £168,800, “way surpasses the inherent value of the jewel”, in line with Tobias Kormind, managing director of 77 Diamonds, Europe’s largest jewellers.

He continued: “But the fact it’s a Garrard jewel from the 1920s, and the fact so few of Diana’s jewels have ever come to auction, have rendered it much more alluring.

“At 77 Diamonds we might cost underneath £7,000 to remake one thing in an analogous fashion to this pendant in our Mayfair workshop.

“Jewellery with illustrious royal associations has a historical past of attracting good-looking costs at public sale. In November 2021, a pair of diamond bracelets hidden by French Queen Marie Antoinette to maintain them secure throughout the French Revolution, offered at Christie’s Geneva for £7.04million, rocketing previous the pre-sale estimate.

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