Huge diamond necklace worn at two British coronations goes on sale

(CNN) — A diamond necklace that has been worn at two British coronations, and is thought to have stones from the infamous necklace at the heart of a Marie-Antoinette scandal, is expected to fetch up to $2.8 million at auction.

Weighing approximately 300 carats, the 18th-century piece, likely created a decade before the French Revolution, is on public display for the first time in 50 years and will make its auction debut on November 11, according to Sotheby’s, which is handling the sale.

The jewel is being exhibited at Sotheby’s in London until Wednesday, before it sets off on the rest of its global exhibition tour. It will then head to Geneva, Switzerland, to be the highlight of Sotheby’s Royal and Noble sale, the auction house said in a press release Monday.

Despite the exact origins of the necklace not being recorded, the auction house believes the antique piece could only have been made for royalty or a high-ranking aristocrat.

In the early 20th century, it belonged to the Marquesses of Anglesey, a leading aristocratic family in the UK with close ties to the British royal family, Sotheby’s said.

Marjorie Paget, marchioness of Anglesey, wore the necklace to the coronation of King George VI in 1937. Her daughter-in-law then wore the same jewel to the coronation of Queen Elizabeth II in 1953, according to the release.

After the family parted with the diamond piece in the 1960s, it was exhibited in the American Museum of Natural History before being acquired by a private collector.

“This rare and important diamond jewel is a sublime survivor from the opulent court life of the Georgian era, defined by its unrivalled pomp and splendour; it is arguably one of the most magnificent and intact Georgian jewels in private hands,” said Andres White Correal, chairman of Sotheby’s jewellery Europe and Middle East and head of noble jewels, in the release.

“When compared to other surviving Imperial and Royal jewels from the same period, this necklace stands head and shoulders above these examples; it is a fortune in diamonds, and also a masterclass in exquisite design, workmanship and technical innovation for the period,” he added.

The piece consists of three rows of diamonds that trail on either side into a diamond tassel.

Each diamond is of an old mine brilliant cut and weighs between one and one-and-a-half carats, according to Sotheby’s, which said the diamonds were likely sourced from India’s legendary Golconda mines, where the Hope Diamond was discovered.

Jewels from that time period were often known for their luxury and versatility, with one piece having the potential to be worn as a necklace or as an ornament sewn into a piece of clothing, according to the release.

This particular piece can be worn around the neck with the tassels hanging down on either side, or with the piece tied in a simple knot.

A glittering scandal

Some of the diamonds from the necklace may have come from the piece at the heart of the “Affair of the Diamond Necklace” scandal, according to the auction house.

The glittering 1785 scandal at the court of Louis XVI involved a cardinal who was looking to regain the favor of Marie-Antoinette, the last Queen of France, who was tricked into acquiring a necklace on behalf of someone pretending to be the Queen.

However, the deceit came to light when the jewelers, who never received the first instalment for the necklace, applied for the money directly from the Queen, who never received the necklace.

The necklace, in the hands of a trickster, had in the meantime actually been broken up and sold in London.

The scandal tarnished the reputation of Marie-Antoinette, who was unjustly accused of having an immoral relationship with a cardinal, and discredited the French monarchy ahead of the French Revolution, in which the Queen ultimately met her demise.

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