A necklace consisting of 500 300-carat diamonds dating back to the 18th century was sold for $4.8 million at an auction held Wednesday in Geneva.

This piece, which was neglected and remained intact over the centuries by a “miracle,” in the words of the head of the jewelry department at Sotheby’s Europe, Andres White Curial, has an estimated price ranging between 1.8 and 2.8 million dollars.

The necklace was sold for 3.55 million Swiss francs ($4 million), bringing the amount after taxes and commissions to 4.26 million Swiss francs ($4.80 million).

White Curial told Agence France-Presse that the buyer, who preferred to keep her identity secret and submitted her offer over the phone, “feels very happy.”

He added, "There is clearly interest in the market for historical jewelry with amazing provenance... People are not only buying the piece, but the story behind it."

Sotheby's confirmed in a statement that "this ancient jewel is one of the wonderful pieces that have remained intact throughout history."

The necklace consists of three rows of diamonds, ending at both ends with two large, amazing designs.

The design of the pendant highlights the transparency of the gemstones and gives great flexibility to this piece, which dates back to the Georgian era and is “rare and very important,” according to Sotheby’s.

White Correll said, “The jewel was passed from one family to another, starting at the beginning of the twentieth century when it was in the collection of the Marquis of Anglesey.”

He pointed out that members of this aristocratic family placed the jewel twice in public places: once during the coronation of King George VI in 1937 and a second time during the coronation of his daughter Queen Elizabeth II in 1953.

White Curial said, “It is a masterpiece of the Georgian era and a masterful lesson in design, manufacturing and technical innovation for this era.”

According to Sotheby's, the diamonds were likely extracted from Golconda mines in India.