A diamond necklace worn by Princess Diana failed to sell at auction in New York on September 24.
The necklace (with five matching 12mm cultured pearls and 178 diamonds totalling 50.94 carats) and a pair of matching earrings were expected to sell for $1.5 million to $2.5 million but failed to reach the reserve price.
According to Guernsey’s auction house, Princess Diana wore the necklace only once at a gala performance of ‘Swan Lake’ at the Royal Albert Hall in London in June 1997.
She never wore the earrings as they were still “in the process of being fabricated” when she died in a car accident two months later. 
According to Guernsey’s, the crown jeweller Asprey & Goddard (now known as Garrard & Company) set out to produce a magnificent suite of jewels for Princess Diana in early 1997.
“The crown jeweller was pleased to offer Princess Diana his recently completed necklace in time for her appearance at the ballet (and) Diana looked resplendent as she arrived at Royal Albert Hall wearing the magnificent necklace and a pair of earrings from her own collection.
“Following the performance, Diana returned the necklace to Garrard where it could be mated with the matching earrings still in the process of being fabricated. Tragically, Diana did not have the opportunity to view the complete suite.
“After Princess Diana’s tragic death, the crown jeweller, in association with Garrard remained in possession of the now complete set of the diamond and South Sea Pearl necklace worn by Diana and the matching earrings, now referred to as the Diana, Princess of Wales Swan Lake Suite.”
 

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