Portugal Colonial - Handbags and ball gowns: Princess Diana finery goes under the hammer

Nearly fifty pieces, including gowns, shoes, handbags and hats, will go under the hammer in Beverly Hills.

"Princess Diana's Elegance & A Royal Collection," brings together some of the style maven's favorite designers, including Victor Edelstein, Murray Arbeid and Catherine Walker.

Highlights include Arbeid's blue diamante ball gown, which the princess wore in 1986 to the London premiere of Andrew Lloyd Webber's "The Phantom of the Opera," and a magenta lace dress by Edelstein.

Both pieces are expected to fetch up to $400,000, according to Julien's Auctions, which is running the sale.

"We are here celebrating Princess Diana's elegance," said Gabriela Schwartz, of the auction house.

"We have some really standout pieces... that Diana wore with a lot of pride and (which are) really emblematic of her style."

Diana married Britain's now-King Charles in 1981 in an opulent ceremony watched by tens of millions around the globe.

The fairy tale soured over the following years and their tempestuous relationship became fodder for newspapers and gossip magazines, feeding a growing celebrity culture that exploded in the 1990s.

The couple had two children -- Princes William and Harry -- but divorced in 1996 in a tabloid frenzy and amid mutual infidelities.

Diana died in a car crash in Paris the following year as she and her lover tried to outrun paparazzi.

More than a quarter of a century on, the woman dubbed "The People's Princess" remains unmatched as a celebrity and style icon, whose allure continues to fascinate millions.

A dress worn by the princess that was auctioned last year fetched a staggering $1.14 million.

The collection, which has toured the globe for months, is expected to generate huge interest by the time bidding closes on Thursday.

As well as items of high couture, the sale will also include shoes by Salvatore Ferragamo, Kurt Geiger and Rayne, as well as letters in Diana's own handwriting, along with a number of other items connected to the British royal family.

O.Salvador--PC