Why celebrity-owned fashion can become so valuable - an explainer

When Kim Kardashian bought a necklace once worn by Diana, Princess of Wales, she acquired more than a piece of jewellery. The Attallah Cross already had a history spanning royal fashion, luxury retail and celebrity. Kardashian’s purchase illustrated how an object’s associations can become part of its cultural and economic value.

The diamond and amethyst cross was sold by Sotheby’s in January 2023 for US$197,453 (£160,000), almost twice its pre-auction estimate. Designed by court jeweller Garrard in the 1920s, the pendant later belonged to Naim Attallah, a Palestinian-British businessman, writer and former chief executive of Asprey and Garrard who was a friend of Diana.

Diana wore the cross on several occasions, giving the jewellery a connection to one of the most recognisable figures in modern fashion history.

How does celebrity ownership change an object's value?

The Attallah Cross is an example of how fashion objects can acquire meanings beyond their original purpose.

Material culture, an area of research rooted in anthropology, examines the relationships between people and objects. Researchers consider not only why people buy particular objects, but also how objects acquire personal, social and cultural meanings.

Celebrity ownership can add another layer. An item associated with a famous person can become a record of a particular moment, relationship or cultural era. Its value may therefore reflect both the physical object and the story attached to it.

The market for celebrity memorabilia includes objects that are far less conventionally valuable than the Attallah Cross. A false nail worn by Lady Gaga sold for US$12,000 in 2013. In 2022, a pair of Birkenstock sandals worn by Apple co-founder Steve Jobs sold for US$218,750.

These sales show how provenance – evidence of an object's history and previous ownership – can become an important part of its value.

Why does celebrity matter to fashion?

Celebrity has long influenced the way fashion and consumer culture work. Mass media helped create a culture in which the clothes and possessions of famous people could become objects of fascination.

Social media has changed that relationship by making celebrities more visible and accessible. People can follow their everyday lives, see what they wear and interact with their public personas directly.

Kim Kardashian is a prominent example of this shift. Her influence has extended across television, social media and fashion, while her public appearances have repeatedly connected her with significant pieces of fashion history.

Her collection includes a jacket worn by Michael Jackson, which she bought for her daughter North, and an Alexander McQueen oyster dress. In 2022, Kardashian also wore Marilyn Monroe’s famous dress from President John F. Kennedy’s 1962 birthday celebration to the Met Gala.

These objects connect Kardashian with earlier generations of celebrity culture. The relationship also works in the other direction: by acquiring or wearing historically significant objects, Kardashian becomes part of their continuing provenance.

What makes a fashion object valuable?

The Attallah Cross demonstrates that an object's value can have several dimensions.

Material value comes from its precious stones and craftsmanship.

Historical value comes from its age, designer and provenance.

Cultural value comes from its association with Diana and her place in fashion history.

Market value is reflected in what a buyer is willing to pay for it at auction.

These forms of value can reinforce one another. A piece of jewellery that is already rare can become more culturally significant when associated with a major public figure. That significance can, in turn, affect how collectors and auction houses understand its appeal.

The auction price does not prove that Diana's association alone determined the necklace's value. The final price reflects a combination of factors, including the object's design, materials, rarity, provenance and demand among bidders.

What does Kardashian's purchase tell us about celebrity memorabilia?

Kardashian's purchase places the Attallah Cross within a new chapter of celebrity history.

Diana's association with the necklace helped establish its place in fashion and popular culture. Kardashian is now part of its provenance, creating a link between two different eras of celebrity.

That does not necessarily mean the necklace will become more culturally important over time. The lasting significance of celebrity memorabilia depends on which people, objects and moments continue to matter to future audiences.

The purchase does, however, illustrate how celebrity can add meaning to fashion objects. An item associated with a famous person can represent not only what it is, but who wore it, when they wore it and what that person came to represent.

The Attallah Cross therefore demonstrates a broader point about fashion: the history attached to an object can be an important part of its value.