Christie's Auction of the late Duke and Duchess of Kent's Estate: November 2009

[Marsel]

Well, the recession did hit the real estate sector heavily; things were really bad (for the sellers) about a year ago – prices were up to 40% even in the prime areas. However, things have improved slightly in the last 5-6 months.

Investing in land is always a wise decision, however the problem is that if your other assets are invested in properties or valuables and you have little ‘cash’, then in order to pay for the DT, the beneficiaries will still have to sell. Which means, if you are going to leave a large estate, you’d better be sure there are easily disposable assets too.

Personally I think that investing into land and works of arts and/or jewellery will still pay off in the long run, but I’m saying so from Russia, where there are no such ridiculously high taxes.

 

[RubyPrincess168]

It is so sad to see the Kents selling their family heirlooms off.

What a shame that the family has to part with them, but if they (the items) have been sitting away in storage since the late Duchess passed (in what 1968?), maybe its not a bad thing to sell them. Hopefully, they have taken the most sentimental items for themselves.

Selling off our silver: The Duke of Kent's family flog gifts given to them by the public to the highest bidder | Mail Online

Someone went to alot of trouble to track down the gift givers to get their reactions! Would it have been more preferable to sell them for scrap metal and get the $$ that way? What are they supposed to do with their father's coronation chair and stool? Sit in it while watching tv? Save it and use it when Prince Charles or Prince William ascends the throne?

Marsel you raise very valid points but gifts are just that gifts. And when someone gives it you, you have the right to do with it what you see fit.

It is tacky, yes it is tacky to sell a gift or "regift" it. But what is the point of keeping stuff that you have no use for...and they just pile up.

I see nothing wrong with this - it's just like having a garage sale. A lot of people are downsizing their stuff. If it's useless gifts or stuff, there's no point in storing - someone is going to dispose of it at some point. My parents' basement is full of not only their stuff but things they took when their parents died and haven't gone through yet as well. Thankfully they are dealing with it now, while they are alive so it doesn't fall on us kids to do it. I'd be curoius how much money from the proceeds of the sale are actually going to charity. I suspect the sale (in this economy) was because they need the money, and the charity donation is to appease the public.

 

[muriel]

I thought they would make about double the originally estimated 1.25 million pounds, they should be pleased, as Im sure every bit helps the kents now!

I am not sure the Kent's in general, and Prince & Princess
Michael in particular, are as badly off as might have been suggested. They have a fair amount of capital (nearly £6m from just the sale of the house in the Cotswolds) and I am sure they were well provided for by Marina. In addition, I am sure they have made the odd pound or two in all their trapezing around Russia and Eastern Europe!!!!

 

[maria-olivia]

Regarding the result of the Auction the best sold item is the painting of the Duchess d'Argyl by Laszlo - estimation 10.000-15.000 and sold 46.850 ..
At Glamis castle I saw the one of Queen Mum also painted by Laszlo, a lovely painting of a young Duchess.
Louise, Duchess d' Argyl Queen Victoria's daughter had not a happy life at all.
To pay such a lot of money for having in your dining room the painting of an old sad royal is pathetic.

 

[susan alicia]

it is not about the royal but about the artist probably. Perhaps the buyer is a museum and even it is a private person, it is the work of art that matters in this case I think

Regarding the result of the Auction the best sold item is the painting of the Duchess d'Argyl by Laszlo - estimation 10.000-15.000 and sold 46.850 ..
At Glamis castle I saw the one of Queen Mum also painted by Laszlo, a lovely painting of a young Duchess.
Louise, Duchess d' Argyl Queen Victoria's daughter had not a happy life at all.

To pay such a lot of money for having in your dining room the painting of an old sad royal is pathetic

.

 

[maria-olivia]

Susan Alicia , I don't think a Museum had that money for a minor royal but you are right about the artist who is famous.
The painting of young Victoria estimation 10.000-15.000 was sold 10.000.
But is was not a painting of Winterhalter but AFTER W.
Is this the royal was important but not the artist.

 

[susan alicia]

I don't know maria-olivia, I do no know what an After W. usually fetches, perhaps Christie's was looking for a buyer who collects everything that has to do with Victoria and who liked the style of Winterhalter and it did not happen.

Susan Alicia , I don't think a Museum had that money for a minor royal but you are right about the artist who is famous.
The painting of young Victoria estimation 10.000-15.000 was sold 10.000.
But is was not a painting of Winterhalter but AFTER W.
Is this the royal was important but not the artist.

 

[Warren]

...I am sure they were well provided for by Marina.

Like many royals Princess Marina had assets (jewellery, silverware, bric-a-brac etc), but was cash poor.
It's all relative of course but royal figures often aren't as "rich" as we imagine them to be.
For example, the Duchess of Gloucester may be dripping in diamonds but her fabulous jewellery collection, worth a fortune, produces zero income.

ETA.. Getting back to Princess Marina's financial situation, when the Civil List was drawn up for the new reign in 1937 no provision was made for the widow of a King's son as at that time there were no widows of that status. The situation could have been remedied by a quick Act of Parliament but due to the war it wasn't. I've read that she refused the government pension she was entitled to as the widow of an officer and it wasn't until 1953 with the new Civil List and a bequest from Queen Mary's estate that her financial position was made secure. During the intervening period she had to sell off various assets (collectables, Fabergé) to provide for herself and her three young children.

 

[muriel]

Like many royals Princess Marina had assets (jewellery, silverware, bric-a-brac etc), but was cash poor.
It's all relative of course but royal figures often aren't as "rich" as we imagine them to be.
For example, the Duchess of Gloucester may be dripping in diamonds but her fabulous jewellery collection, worth a fortune, produces zero income.

Well at least using their share of the proceeds from the sale, Prince & Princess Michael will be able to pay their rent for a few years.

 

[branchg]

Marina did have money she inherited from The Duke when he died (mainly, the nearly 1 million pounds George V settled on each of his sons at his death), but it was limited to the income with the principal left in trust for her three children.

Queen Mary and George VI both helped her out, but she generally had a difficult time financially until her brother-in-law died and additional provision was made through the Civil List. But I doubt there was much capital left when she died in 1968.

 

[KittyAtlanta]

The items belonged to them and obviously no one in the family raised a royal eyebrow once it was disclosed that they would all share in the sale. I wonder how many items came out of the home they had to sell? Can you imagine having to store this stuff? No thanks. I don't think I've ever seen a royal lady wear a jewel that had belonged to the DoW. Correct me if I'm wrong.

 

[Mermaid1962]

There have been suggestions that Princess Michael of Kent received some pieces from the Duchess of Windsor, and every now and then there's a comment about a piece of jewelry looking "Wallis-like."

The items belonged to them and obviously no one in the family raised a royal eyebrow once it was disclosed that they would all share in the sale. I wonder how many items came out of the home they had to sell? Can you imagine having to store this stuff? No thanks. I don't think I've ever seen a royal lady wear a jewel that had belonged to the DoW. Correct me if I'm wrong.

 

[Dierna23]

Princess Michael has worn the ruby brooch that belonged to the Duchess of Windsor quite often. And of course there are those gorgeous emerald earrings that she also wears quite frequently, but I'm not 100 % sure if they belonged to Wallis. I would think so, though.

 

[Mermaid1962]

Thank you for "fleshing out" my reply Dierna23. I couldn't think of any of the jewels in particular that Princess Michael had worn.

Princess Michael has worn the ruby brooch that belonged to the Duchess of Windsor quite often. And of course there are those gorgeous emerald earrings that she also wears quite frequently, but I'm not 100 % sure if they belonged to Wallis. I would think so, though.