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.

The necklace containing around 300 carats of diamonds was bought by an unidentified woman who put in her bid over the phone, Sotheby's said.

The 300-carat necklace thought to be at the center of the infamous 'Affair of the Diamond Necklace' that contributed to the French Revolution sold at auction in Geneva

"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.

Composed of approximately 300 carats of old mine-cut diamonds, the historic piece was once worn during royal coronations and is rumoured to hold ties to the scandal that tainted Marie Antoinette’s reputation.