Designed as a graduated line of natural pearls measuring from approximately 8.00 to 10.45mm, the clasp set with a cushion-shaped ruby, framed within cushion-shaped and rose diamonds, length approximately 405mm, maker's mark for Gübelin.

By family tradition, these pearls were given by Princess Victoria Eugenie of Battenberg, future Queen of Spain, to the Hon. Ethel Gerard, daughter of William Cransfiel, 2nd Baron Gerard of Bryn, on the occasion of her marriage to Baron Maurice Arnold de Forest, Count de Bendern, in 1904, thence by descent. 

Rubies of Burmese origin cannot be imported into the US; this piece may contain a ruby of Burmese origin and therefore may not be able to be imported into the US. Certification of non-Burmese origin is required before the import of rubies into the US. Please see our Important Notices and contact the jewellery department for further information. Accompanied by SSEF report no. 82341, stating that the thirty-nine pearls, measuring from approximately 8.00 to 10.45mm, were found to be natural, saltwater. Clasp with maker's mark for Gübelin, stamped 750 for 18 carat gold. Pearls of white to cream body colour, partly with rosé and green overtones, a few blemishes and growth marks; for further details on the pearls, please refer to the SSEF report. The necklace would benefit to be restrung. Ruby red of medium strong saturation, with abrasions. Diamonds bright and lively, chipped. Signs of normal wear to the metal.
"In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Please note that colour, clarity and weight of gemstones are statements of opinion only and not statements of fact by Sotheby's. We do not guarantee, and are not responsible for any certificate from a gemological laboratory that may accompany the property. We do not guarantee that watches are in working order. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective, qualified opinion. Prospective buyers should also refer to refer to any Important Notices regarding this sale, which are printed in the Sale Catalogue, in particular to the Notice regarding the treatment and condition of gemstones and to the Notice regarding import of Burmese jadeite and rubies into the US.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING A LOT, ALL LOTS ARE OFFERED AND SOLD "AS IS" IN ACCORDANCE WITH THE CONDITIONS OF BUSINESS PRINTED IN THE SALE CATALOGUE."