The late Princess Margaret's wedding tiara and other possessions sold for nearly 18 million dollars at auction in London, nearly five times estimates.

Items that belonged to Queen Elizabeth II's only sibling were snapped up by hundreds of jewelry collectors and royal fans, including her wedding tiara which sold for 926,400 pounds (1.354 million euros, US$1.697 million).

Helen Molesworth, jewelery specialist at Christie's auction house, holds the tiara of Princess Margaret during an open house 05 June, 2006 in New York. The late Princess Margaret's wedding tiara and other possessions sold for nearly 18 million dollars at auction in London, nearly five times estimates. [AFP]

The Poltimore Tiara, originally created by Garrards in 1870 for Lady Poltimore, the wife of the second Baron Poltimore, had been estimated to be worth between 150,000 and 200,000 pounds.

Margaret wore it on several occasions, including at her wedding to Lord (Anthony) Snowdon, and, in its alternative form, as a diamond fringe necklace and scroll brooches before their marriage in 1960.

She died in 2002 at the age of 72.

Fetching the highest price was a translucent mauve enamelled silver Faberge clock, a gift from Margaret's grandmother Queen Mary, which sold for 1,240,000 pounds (1,812,138 euros, 2,273,317 dollars).

"We are extremely pleased with the result of this sale. Many of the lots far exceeded expectations," a spokesman for the auction house said. "This goes to show the continuing and enduring appeal for the royal family."

The unusual auction at Christie's -- including diamond encrusted brooches, pearl earrings and designer watches -- raised 9,597,680 pounds (14 million euros, US$17.6 million).

Margaret's children Viscount David Linley, 44, and Lady Sarah Chatto, 42, hope to pay inheritance taxes with proceeds from the sale which Christies estimated conservatively at two million pounds (2.9 million euros, US$3.6 million).

Some of the proceeds will also go to charity.

The collection included pieces that were inherited, presented as gifts or personally acquired by the princess and reflected her celebrated style and elegance.

An art deco pearl and diamond necklace that Margaret wore when photographed by Cecil Beaton for her 19th and 21st birthday portraits went for 276,800 pounds and brought applause from the sales room.

That was more than 10 times the initial estimates.

The sale has attracted some controversy amid claims that Margaret's ex-husband Lord Snowdon was unhappy that some of the items were being auctioned.

Lord Snowdon, who was married to the Princess between 1960 and 1978, wrote to Christie's questioning whether his children had the right to sell them.

However the auction house said there was no question of any of the pieces being withdrawn from the sale.