Princess Margaret bought the tiara for £5,500 in 1959 (equivalent of £128,800 today). Like many late nineteenth century tiaras, the jewel was convertible. It could be taken off its frame and transformed into a fringe necklace and 11 brooches. Before the announcement of her engagement Princess Margaret wore the piece as a necklace. For her royal wedding on May 6, 1960, Margaret debuted the dramatic tiara.
She wore it many times, but most famously while posing in bathtub for a photo taken by her husband, Anthony Armstrong-Jones. The famous photograph was taken in 1962, but it became public in 2006. The tiara was sold to private buyer for $1.7 million in 2006.
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