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LONDON, Jun 14, 2006 (UPI via COMTEX) -- It was clear early on that the auction of Princess Margaret's effects would make more than its estimated $5.5 million and it, in fact, tripled that figure.
The bidding took place at Christie's in central London. Bidders clamored for even the simplest trinkets associated with the princess. Items were being sold for up to 100 times their catalogue estimate, the Times of London reported Wednesday.
Individual jewelry items went for between $37,000 and $55,000. A Cartier watch given to Margaret as a 20th birthday present by her mother went for $88,000.
At the close of auction the total figure was $17,714,417.93.
Some of the proceeds of the auction will be donated to the Stroke Association, where a fund has been established in the princess's memory.
But the principle reason for the sale, which was ordered by Princess Margaret's children is to pay inheritance tax on the $14 million from their mother's estate.
URL: www.upi.com Copyright 2006 by United Press International
