JEWELLERY fans with a spare £120,000 have the chance to get their hands on a precious pair of pearl and diamond earrings given by an exiled king to his mistress.

The earrings, which date from the early 20th century, are believed to have been bought by King Carol II of Romania, a great grandson of Queen Victoria, for his mistress Elena Lupescu and are due to be sold at auction on April 26 with an estimate of £120,000.

Carol was king of Romania for a decade from 1930 onwards, but preferred to spend his time travelling with mistress than on matters of state and became known as the Playboy King.

He abdicated in 1940, settling in Portugal and marrying Elena in 1947. He remained in exile for the rest of his life and died in 1953.

The earrings, together with a Mellerio pearl ring were owned by Elena and will go to auction at Woolley & Wallis in Salisbury on April 26 at 11am.

Jonathan Edwards, head of jewellery at the auctioneers, said: “We believe they were probably acquired on one of the famous European tours with King Carol. They were bequeathed to the current owner’s family by Elena, who died in 1977. They have been generating a lot of interest from buyers and we are looking forward to an exciting sale.”

For more information call Woolley & Wallis on 01722 424500 or go to woolleyandwallis.co.uk.