Italian royal tiara fetches $1.6 million at auction

This diamond and pearl tiara sold for $1.66 million

Location: Geneva, Switzerland

It has been handed down through generations of Italy's royal family

after Maria Vittoria dal Pozzo received it as a wedding gift

upon her marriage in 1867 to Amadeo I of Savoy, later king of Spain

The largest Kashmir sapphire to ever appear at auction was also sold

The 55.19 carat stone fetched $3.87 million

"So, the bid is with Mary (one of Sotheby's auctioneer) at 1.2 million Swiss Francs on the phone. Against you online, the bid is here in Geneva on the phone, with Mary, at 1.2 million Swiss Francs. Fair warning, at 1.2 million. The hammer is up. At 1.2, to you Mary, thank you very much, thank you."

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