The brooch by Cartier dates from 1932, purchased by Her Majesty Queen Elizabeth from Cartier in 1947 for £175, and it is estimated to sell for £40,000-50,000.
Engraved with the ownership mark ‘M’ beneath Princess Margaret’s coronet, the brooch was formerly from The Collection of Her Royal Highness, Princess Margaret, and was sold at Christie’s in June 2006.
Other items in the sale include several Cartier pieces, including an aquamarine line bracelet circa 1940, a diamond and onyx lovebirds brooch circa 1960, and a diamond and sapphire owl brooch circa 1950.
A 19th Century amethyst cross pendant, formerly the property of Edith Vane-Tempest-Stewart, Marchioness of Londonderry, will also be sold at the auction.
Frances Noble, head of the Jewellery Department and associate director at Dix Noonan Webb, said: “Princess Margaret’s love of brooches was evident throughout her life, and this particular brooch seems to have been a favourite, as there are numerous photographs of her wearing it throughout her life.
“We are thrilled to be offering this particularly beautiful Cartier brooch in our November 23 auction, following on from the success earlier this year of the sale of Princess Margaret’s iconic Art Deco pearl and diamond bracelet, which she wore in her 19th birthday portrait by Cecil Beaton in 1949 and which subsequently sold at DNW for the astonishing price of £398,000.”
She added: “These recent high prices confirm the strong interest currently at auction for items with a Royal provenance, in part probably due to the Netflix series The Crown, which has introduced a new younger audience to the stories and personalities of our Royal Family.”