"Iconic" Princess Diana Necklace Up for Sale

Guernsey's Auction House in New York is putting a number of what it calls "iconic" items" on the block Friday, including a necklace worn by Princess Diana to one of her last major public appearances -- the gala performance of "Swan Lake" at the Royal Albert Hall in London in June 1997, just weeks before her tragic death.

It's estimated the necklace and matching earrings that are also being sold will fetch between $1.5 million and $2.5 million.

Diana didn't wear the earrings, because they weren't ready at the time.

The necklace has 164 diamonds, totaling 42.35 carats. Fourteen of the diamonds are marquise.

NECKLACE STATS:

5 matching cultured pearls 12mm
11 marquise diamonds that total in 7.71 carat
3 marquise diamonds that total in 0.88 carat (these make up the clasp in the back)

The necklace is described as "a brilliant cut diamond and marquise diamond scroll motif center with a South Sea cultured pearl five stone and marquise diamond fringe drop, to a brilliant cut diamond two row collet back chain tapering to a single row; mounted in platinum, claw set, with an integral box clasp."

The necklace was made specifically for Diana by the royals' crown jeweler, David Thomas, and the director of a firm called Garrard. They wanted to capture Princess Diana's taste and incorporate South Sea pearls, which she loved.

On "The Early Show" Wednesday, co-anchor Erica Hill told her colleagues all about it - and even got to wear it!: