Princess Diana's Sweater Sells for $1.14 Million at Auction

At a Sotheby's auction in New York, a red sweater featuring sheep motifs that once belonged to Princess Diana was sold for a record-breaking $1.14 million, as reported by the BBC.

Initially, Sotheby's estimated the value of Diana's sweater to be between $50,000 and $80,000. However, during the online bidding that began on August 31st, the initial offer reached $200,000, remaining the highest bid until the final moments of the auction. Surprisingly, an undisclosed buyer offered a staggering amount five times higher than the sweater's initial valuation.

This sweater, known as a creation of the Warm and Wonderful company, was worn by Diana Spencer in 1981 when she was still engaged to Prince Charles. It is adorned with a pattern of white sheep arranged in rows, with one black sheep standing out in the front. This design was often seen as a symbol of Diana's status within the royal family, though fashion experts considered it an exaggeration.

Shortly after her wedding, Buckingham Palace reached out to Warm and Wonderful, requesting repairs or a replacement for the damaged sweater. The company sent an identical piece, which Diana wore in 1983. Sotheby's included a letter from Warm and Wonderful and a thank-you note for the replacement as part of the auction lot.

In an era before social media, newspaper photos of Diana wearing the sweater gave a "stratospheric boost" to its manufacturer, Warm and Wonderful, inspiring the creation of new designs, according to Sotheby's.

The sweater itself was discovered in an attic in March of this year. It's worth noting that it sold for a higher price than many other items associated with Princess Diana, including her Ford Escort car, which was sold for $806,000 in 2022.

Previously, the record for the sale of items from Diana's wardrobe belonged to a ball gown created by Victor Edelstein in 1989. This dark burgundy dress made of silk velvet with no shoulder straps featured a tulip-shaped skirt. It was sold at auction for $604,800 earlier this year.

It's worth mentioning that Princess Diana's death has given rise to numerous conspiracy theories. However, unlike many conspiracy theories, this theory was promoted by a billionaire: Mohamed Al-Fayed, the father of Dodi Al-Fayed, who tragically died alongside Diana.