Meghan Markle has been banned from participating in the auction of Princess Diana’s Necklace, now owned by the Ginzburgs, a prominent Ukrainian family.

The necklace is set to be auctioned in New York next month and is expected to raise between £4 million and £12 million.

According to a source who spoke exclusively to the Daily Mail, Lady Sarah McCorkadale, Diana's sister, had a private conversation with Evelyn Pumalec, head of jewellery design at Garrard between 1996 and 1998, to ask her to prohibit Prince Harry from participating in the auction because she didn't want the necklace to end up as a trinket for Meghan Markle, Diana's daughter-in-law.

Evelyn Pumalec revealed that the necklace was the product of private discussions between Princess Diana and David Thomas, crown jeweller at the time, several months earlier.

She also disclosed that Lady Sarah McCorkadale had come to appreciate and adore Diana's eldest son, Prince William, much more than Prince Harry.

It is well known that Prince William may decide against purchasing this necklace because he does not want to stir up a debate regarding the Royal Family's usage of British taxpayer money to purchase opulent items right after King Charles's coronation.

In early March 1997, Evelyn Pumalec was given clear instructions to create a necklace and earrings for a princess, but she was not given any names.

She recalls working feverishly to get the necklace completed in time for the event, which was significant because the newly divorced princess was eager to show her independence by wearing jewellery she had chosen, not borrowed from the Crown.

Following the ballet, Diana returned the necklace to David Thomas at Garrard, who paired it with a set of matching earrings to make the set complete.

It has been reported that Dodi Fayyad, who was in a relationship with the princess at the time of her death, may have been interested in purchasing the entire suite as a romantic gesture, but this is unconfirmed.

Royal insiders suggest that it is unlikely because Dodi didn't start dating Diana until several weeks after the Swan Lake performance.

Instead, to the great disappointment of the craftsmen and women at Garrard, she never had the opportunity to wear the necklace again, or the matching earrings, before her death in August 1997.

According to Thomas, the Swan Lake suite was held at Garrard until 1998 when the jeweller sought permission, as a courtesy, from Diana's sister, Lady Sarah MacAucardale, to include the necklace in a tribute fashion exhibition in Shropshire.

In a letter from the time, she adds that she would be very happy for Garrard to auction or sell the necklace privately.

They did so soon afterward.

It was sold for an undisclosed sum to a wealthy British man, who kept the necklace for a year before selling it.

It is claimed his wife, once she learned of its provenance, refused to touch the necklace as a mark of respect to Diana and her tragic death.

He sold it, through auctioneer Guernseys, to American businessman Jim McIngvale for just under 800,000 pounds.

McIngvale, a retail magnate based in Houston, Texas, bought the jewels for his daughter to wear on her wedding day.

A decade later, in 2010, at the height of the financial crisis, he too decided to sell them, and the matching set was purchased for 458,569 pounds by the Ginzburg family, real estate magnates in Ukraine.

Thirteen years on, the Swan Lake suite is changing hands once again.

With little likelihood of any of the princesses of the jewellery going on public sale, Guernseys, who are once again overseeing the forthcoming sale, say it's a once-in-a-lifetime opportunity to own a piece of royal history, if you've got several million to spare.

This time, however, the cause is something that would likely have been close to Diana's heart, a portion of the proceeds will go towards the rebuilding of war-torn Ukraine.

Lady Sarah McCorkadale's decision to ban Meghan Markle from participating in the auction has caused quite a stir.

It is clear that Lady Sarah McCorkadale has a deep love and appreciation for her sister, Princess Diana, and wants to ensure that her legacy is respected.

The auction of the necklace is a significant event, and it is understandable why Lady Sarah McCorkadale wants to ensure that it is not used as a trinket for someone who did not appreciate Princess Diana's legacy.

The Swan Lake suite is a remarkable piece of jewellery with a fascinating history.

It is a testament to Princess Diana's independence and her desire to make her own choices.

The fact that it is now being auctioned off for a good cause is a fitting tribute to her memory.

It is likely that the necklace will attract a lot of interest from buyers who are willing to pay a premium to own a piece of royal history.

In conclusion, the auction of Princess Diana's Necklace is a significant event that has attracted a lot of attention.

Lady Sarah McCorkadale's decision to ban Meghan Markle from participating in the auction has caused controversy, but it is clear that she wants to ensure that her sister's legacy is respected.