A diamond necklace that used to belong to Christina Onassis, daughter of Greek tycoon Aristotle Onassis, sold at auction on Wednesday for $7.1 million.

The necklace, with a 38-carat pear-shaped diamond, was the highlight of the Onassis jewelery auction at Christie's in London. It was displayed by a model as a fierce bidding war broke out.

Eventually, amid applause from rival bidders and onlookers, the item was secured by a private collector from Russia.

The necklace was a reminder of the glamour associated with the Onassis family.

Christina was the only daughter of Greek shipping magnate Aristotle Onassis - who went on to marry JF Kennedy's widow Jacqueline.

Christina lived a life of luxury, but there was tragedy too, as she lost both her parents and a brother within the space of two years.

Speaking after the auction on Wednesday, auctioneer Francois Curiel - who's also chairman of Christie's in Europe - said the sale had been a fitting tribute to one of the great icons of the 20th century.

"The Onassis family is known for collecting the best jewelery and the best works of art... a dream of an auction for an auctioneer," he commented.

The auction also included dozens of rings, bracelets, watches, necklaces and oddities belonging to the woman dubbed the "Poor Little Rich Girl" during her lifetime - including the so-called Faberge Buddha.

This was a jade-colored Buddha by Peter Carl Faberge, renowned for creating ornamental eggs for Russia's imperial family.

It sold for $2.5 million.

Christina Onassis died in 1987 of a heart attack. She was just 37 years old.

Her jewelery collection was put on sale by her daughter Athina.

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