The auction was by Dix Noonan Webb in London, and its estimated sale price was between £30,000 to £40,000.

Margaret’s grandmother, Queen Mary, most likely gave her the jewellery piece for her 18th birthday the year before.

‘The Queen’s Jewels: The Personal Collection of Queen Elizabeth’ by Leslie Field mentions the Princess received a gift of a matching pearl necklace and bracelet set to honour her entrance into adulthood.

Frances Noble, head of Dix Noonan Webb’s jewellery department, says she believes this is the bracelet in question, although they cannot be 100 percent certain.

They estimate it was made around 1925.

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