- Princess Diana’s iconic sheep sweater fetched a surprising $1.1 million at the Sotheby’s Fashion Icon auction on Thursday.
- The designers of the sweater revealed that Diana had a significant impact on their brand when she wore it in 1981.
- In addition to the sweater, the auction included two letters sent from Buckingham Palace to the brand.
Princess Diana’s sheep sweater achieved an astonishing sale price of $1.1 million at the Sotheby’s Fashion Icon auction on Thursday.
Sotheby’s announced that the sweater received a total of 44 bids, and its price escalated from $190,000 to the final amount of $1.1 million after an intense 15-minute bidding war.
In June, Insider had predicted the sweater to sell for an estimated range of $50,000 to $80,000.
Surpassing all expectations, the sweater was eventually sold for a staggering $1.143 million, setting a new record as the most expensive sweater ever auctioned, according to Sotheby’s press release.
Previously, the title of the most expensive garment belonging to Princess Diana was held by a velvet ballgown she wore in a royal portrait, which sold for $604,800 at a previous Sotheby’s auction earlier this year.
The sheep sweater was created by the British brand Warm & Wonderful, founded by Joanna Osborne and Sally Muir. They revealed that Princess Diana’s choice to wear their design in 1981 had a profound impact on their company.
“Discovering that she wore our sweater was a complete surprise; we only found out when we saw her on the front page of the newspaper wearing it,” they shared.
During a search in their archives in March 2023, co-founder Joanna Osborne stumbled upon what they suspected to be the original sheep sweater worn by Diana. The confirmation came from identifying details such as the damaged cuff, the shape, the single sheep at the shoulders, and slight variations in the sewn-on sheep eyes, as stated in the Sotheby’s catalog note.
Osbone and Muir explained that their decision to auction the sweater was an easy one. They said, “We didn’t want the responsibility of maintaining and protecting it from moths. Since the letters are part of its history, we believe the new owner should have them as well.”
Tristan Fewings/Getty Images for Sotheby’s
In a remarkable addition, the buyer of the sweater will also receive two letters from Buckingham Palace addressed to Joanna Osborne in 1981. These letters were sent by Diana’s private secretary at the time, Oliver Everett.
The first letter mentioned the damage to the sweater and expressed Diana’s admiration, stating that she would love to see it restored or replaced, as depicted in the auction listing images.
The second letter thanked Osborne for their work and conveyed Diana’s excitement to have the sweater back, expressing gratitude for its refurbishment. Osborne also apologized for the delay, referring to the package getting mixed up with late wedding presents.
Buckingham Palace declined to comment.
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