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Originally Posted by ingenue
Here's what I can't quite grasp-- what about Princess Margaret? In light of her jewels and items from her personal collection to be auctioned off at Christie's-- does that mean that she didn't leave much to her children, Lady Sarah and Viscount Linley? Why would they need to sell her jewellery, i.e. the Queen Mary riviere and the Poltimore tiara, (esp the diamond riviere, which has such significant royal provenance)? it was said in an article that proceeds will go to paying inheritance taxes... Did she leave much to her children??
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Viscount Linley owes inheritance tax on Margaret's estate and will use the proceeds from the auction to meet the bill. It is generally believed Margaret had a small fortune in the range of $2-3 million, invested in stocks and bonds.
Most of the jewelry being auctioned would likely have sat in a vault somewhere. It's unlikely Lady Serena or Lady Sarah need to wear valuable jewels or a large tiara appropriate for a Royal Highness.