Guernsey's told the National Jeweler that they cancelled the auction that morning. The reason was the sale of the jewels through a private arrangement prior to the auction. But it declined to give further details.
The next day he announced on his website that he had sold Princess Diana's “Swan Lake Set” to a “prominent” museum.
The Swan Lake set includes a South Sea pearl necklace and matching earrings. They were made by Garrard with the princess's input in the design.
On June 3, 1997, Diana, Princess of Wales, attended the premiere of the British National Ballet's Swan Lake at the Royal Albert Hall in London wearing the necklace. This was one of her last public appearances.
After the ballet, the princess returned the piece for Garrard to make a pair of matching earrings. But she met a tragic end in Paris before receiving them.
The necklace is composed of 178 marquise and round brilliant-cut diamonds and seven 12 mm South Sea pearls. They are set in platinum and include more than 50 carats of diamonds.
The accompanying earrings feature a round cluster of brilliant-cut and marquise diamonds with a cultured South Sea pearl drop. They are also set in platinum and are shaped like a claw with links and clips.
Due to Diana's estrangement from the royal family after her divorce from Prince Charles, the set was left without an owner after her death in August 1997 and did not follow any royal protocol.
Garrard was contacted by a British lord who bought the jewels for his wife. However, they say she never wore them because she was too uncomfortable with their connection to the late princess.
The jewellery then went to the Guernsey auction house. In December 1999 they were bought by the Texan businessman James Mc Ingvale for $1 million.
In 2008, the set changed hands again. The jewelry was purchased through a private sale by the current owner Ginzburgs. The Ginzburgs are a Ukrainian family deeply affected by the war in their homeland.
“I know that their hope is that the money from the sale can be used for rebuilding,” said Guernsey chairman Arlan Ettinger.
The pre-auction estimate for the Swan Lake set was $5 million to $15 million.
Source: nationaljeweler.com
