A diamond necklace that has been worn at two British coronations, and is thought to contain stones from the infamous necklace at the heart of a Marie Antoinette scandal, sold for over $4.8 million at an auction.

How the Affair of the Diamond Necklace changed history—and why 18th-century jewelry remains an eternal holy grail.

"There is obviously a niche in the market for historical jewels with fabulous provenances," Sotheby's jewelry specialist Andres White Correal said after a diamond-studded necklace with a possible link to Marie Antoinette's downfall sold for more than double the pre-sale estimate.