A necklace, adorned with approximately 500 diamonds and possibly connected to a scandal linked to Marie Antoinette’s downfall, fetched $4.8 million at a Geneva auction on Wednesday.

Originally expected to fetch between $1.8 and $2.8 million at Sotheby’s Royal and Noble Jewels sale, the 18th-century piece, containing around 300 carats of diamonds, saw intense bidding that pushed the hammer price to 3.55 million Swiss francs ($4 million). After adding taxes and commissions, the final sale price reached 4.26 million francs ($4.81 million).

It’s speculated that some diamonds in this necklace trace back to the infamous “Diamond Necklace Affair” of the 1780s, which further damaged Marie Antoinette’s reputation and fueled revolutionary sentiments leading to the French Revolution.

The necklace, which features three rows of diamonds with a tassel at each end, had been preserved in a private Asian collection for 50 years before this auction. Described by Sotheby’s as “miraculously intact,” this jewel was highlighted as a “spectacular antique jewel” and an “incredible survivor of history” in their pre-sale statement.

WATCH: A diamond-studded necklace thought to be linked to a scandal that hastened the downfall of the doomed 18th century queen of France, Marie Antoinette, sold at auction in Geneva for $4.81 million https://t.co/8Tmkbu7Al8 pic.twitter.com/VU1TBfXU1n

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Sotheby’s described the Georgian-era necklace as “rare and highly important,” likely crafted in the years leading up to the French Revolution. According to Andres White Correal, head of Sotheby’s jewelry department, the necklace had been part of the Marquesses of Anglesey’s collection since the early 20th century. It was notably worn at public events by family members during the 1937 coronation of King George VI and again at Queen Elizabeth II’s coronation in 1953.

The precise origins of the necklace, including its designer and original owner, remain largely unknown, though it’s suggested it was made for a royal or noble figure. Some diamonds are believed to be from the necklace involved in the scandal where Jeanne de la Motte, a noblewoman in financial distress, deceitfully promised payment for a luxurious necklace in Marie Antoinette’s name. Although the queen was proven innocent, the affair contributed to public resentment against her lavish lifestyle, stoking revolutionary fervor.

Sotheby’s noted that the diamonds might have originated from the renowned Golconda mines in India, known for their exceptionally pure and dazzling diamonds.