Diana jewellery sale aims to raise millions for Ukraine

PRINCESS DIANA’S privately owned jewellery will be put on sale for the first time by a Ukrainian family who are raising war relief funds.

A diamond and pearl necklace and earring set, reportedly given to the late Princess by Dodi al-fayed, has emerged for sale for more than £10million.

The necklace was famously worn by Diana at the gala evening for Swan Lake at the Royal Albert Hall in June 1997, which became her last official engagement before her death.

The jewellery set, known as the Swan Lake Suite, has belonged to a prominent Ukrainian family since 2008.

However, the ability of the owners to maintain their business in war-torn Ukraine has led them to put the famous pieces up for auction, and they have pledged to donate a portion of the proceeds to the rebuilding of the country.

It is believed to be the first time Diana’s privately owned jewellery will be sold publicly, because most of the items she wore were lent to her by the Crown when she was a member of the Royal family.

The necklace was made from 178 diamonds totalling 51 carats and paired with five matching 12mm South Sea pearls. After the Swan Lake gala, it was returned to Crown jewellers Gerrard so that they could make a matching pair of earrings for her, but they only finished them after her death. The suite will be auctioned off next month in New York after being displayed in London.

Experts at Guernsey’s Auctioneers of New York have given the jewels a pre-sale estimate of between £4 million and £11million.

Arlan Ettinger, president of Guernsey’s, said: “While many accomplished figures fade from view, Diana is as vibrant today as when she was indeed the most admired woman on the planet.

“The jewellery Diana wore when she was part of the Royal family was loaned to her by the Crown, [but] the Swan Lake Suite was especially made for her.

“She was part of the design process. It is thought to be her only jewellery to have ever been sold, making it extraordinarily important.

“There are many people who have described it as priceless but we have given it a very broad estimate.

“The suite was reputed to have been a gift to her from Dodi al-fayed who was in her life at the time.”

The jewellery was purchased in 1999 by Jim Mcingvale, a US businessman, for just under $1million. He sold it in 2008 to the current owners, described as enthusiasts of the Royal family.

Mr Ettinger said: “The war in Ukraine has been a motivating factor in them deciding to sell the Swan Lake Suite now. They have had them for 14 years but given what is going on, their thoughts are now very much on rebuilding their country.”

The Swan Lake Suite will be sold on June 27.