$4.81 Million for Marie Antoinette’s Necklace or Why Historic Jewels Dominate Modern Auctions

Diamond necklace on a mannequin. $4.81 Million for Marie Antoinette’s Necklace or Why Historic Jewels Dominate Modern Auctions. US

Experts suspect that some of the diamonds may be linked to the notorious “Affair of the Diamond Necklace.” Fast forward a few centuries, and this 300-carat gem — once worn at Queen Elizabeth II’s 1953 coronation — just fetched more than double its estimated value at a Geneva auction. Talk about a dazzling comeback!

Posted on November 17, 2024

Auction houses strive to attract collectors by presenting rare items from exclusive and precious materials, such as stones, metals, or natural materials. The recent years showed that the rules are changing a bit, as people are more interested in lots that have some stories behind them. Please remember that we are discussing the tendency in the field of jewelry. People are willing to own things that are valuable not only in the material sense but are connected to famous personas, historical events, or mysterious cases. Someone may say that this is because people nowadays are more conscious and captivated by things that translate values or bear the spirit of the whole epoch. However, someone may contradict and defend the idea that such aficionados are driven by vanity – nothing can compare to the pleasure of boasting about a multi-million-dollar item that a famous writer or political leader once owned. Which side to take depends on whether your glass is half empty or half full.

The niche for historical jewels is filled with such items as this diamond necklace linked to Marie Antoinette, which was offered for auction by a private collector from Asia. This Georgian-era stand-out piece was purchased at Sotheby’s auction by an undisclosed female buyer on November 13 in Geneva. While the pre-auction estimate varied between 2 – 3 million dollars, the lot eccentrically fetched way more – $4.81 million (4.26 million Swiss francs). The neckpiece resembles a delicate neck scarf and offers two ways of styling: either open or tied at the front.

You may wonder what story lies behind this item of jewelry. It must be specified that not the whole necklace belonged to the doomed queen, but some of the diamonds, which are believed once to be a part of a scandalous neckpiece that contributed to Marie Antoinette’s demise. She and her husband, French King Louis XVI, were guillotined in 1793 during the French Revolution. Eight years earlier, in 1785, the Diamond Necklace Affair broke out. It involved an impoverished noblewoman, Jeanne de la Motte, who pretended to be Marie Antoinette and got the necklace on the French queen’s behalf without paying for it. The situation resulted in a trial in which the real queen wasn’t found guilty; however, it did tarnish her reputation and fueled the public perception of her as a symbol of royal excess and extravagance. As they say, the flapping of a butterfly’s wings can cause a hurricane on the other side of the world. Similarly, a necklace scandal contributed to the French Revolution and the fall of the monarchy.

Reuters report from the Sotheby’s auction

The diamonds from the necklace, obtained by Jeanne de la Motte through trickery, were sold off one by one on the black market, making them nearly impossible to trace. Nevertheless, experts suggest that the quality and age of the stones align. Sotheby’s spokesperson, White Correal, shared that the buyer expressed incredible joy upon acquiring the piece. She remarked that she is thrilled to have won this lot but doesn’t see herself as an owner but rather a custodian who preserves it for the next person. Among its notable owners was Britain’s Marquess of Anglesey, whose family member donned the item during Queen Elizabeth II’s coronation, according to Sotheby’s.