Jewellery Designer's Goods Set For Auction

Published on 05/06/09

Lovers of items such as gold diamond rings and diamond bracelets may be able to pick themselves up some of a renowned designer's possessions later this month.

On June 16th items owned by Penny Preville will be auctioned off, reports Nationaljewelernetwork.com.

The goods, which are worth up to $4 million (£2.4 million), are being sold due to a ruling from the US Bankruptcy Court.

According to the source, the designer became involved in a voluntary chapter 11 bankruptcy case last November, after first suffering financial troubles two years earlier.

Among the items set to go under the hammer are Ms Preville's inventory, which is worth a reported $3.75 million, as well as office equipment and furniture and property related to her jewellery business.

In other auction news, last month a brooch once owned by the Queen Mother was sold in Matlock for £650.

The glittering item attracted telephone bidders and even a television camera crew as it found a new owner.