Wednesday, 14th June 2006 (3671 views)

An auction of the late Princess Margaret's gold jewellery has raised funds far exceeding the amount it was expected to generate by both experts and her family.

It is believed that the sale, held by Christie's in London, has already raised some £10 million towards the settling of the Queen's sister's estate.

A gold and silver Faberge clock sold for £1.1 million – it had been predicted that it would fetch between £600,000 and £800,000.

That was not the only surprise of the day as another Faberge treasure, a gold and enamel cigarette holder, smashed through its guide price of £2,000 and was bought in the end for £209,600.

Also sold were a solid gold and sapphire Cartier cigarette case, a gift from her father, and a tiny gilt hedgehog brooch – which was valued at £50 but fetched £5,670.

Christie's had apparently scheduled two sales over the course of the afternoon but the level of interest in the jewellery was so high that the second will now be taking place today.

 

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