Italy's former royal family want their $335 million crown jewels back 75 years after the monarchy was abolished

·2 min read
  • The Italian royals have requested the return of their crown jewels, The Telegraph reports.

  • The family lost jewels thought to be worth $335 million when the monarchy was abolished.

  • They have been held in a vault in the Bank of Italy ever since.

The former Italian royal family are asking the country to return their crown jewels, which are thought to be worth €300 million, or around $335 million, The Telegraph reports.

The family — also known as the royal House of Savoy — lost its collection of tiaras, earrings, necklaces, and brooches when the monarchy was abolished in 1946. Ever since, the jewels have been kept in a vault in the Bank of Italy in Rome, the publication added.

A mediation meeting was held on Tuesday between representatives of the Bank of Italy and lawyers for the House of Savoy, which was found to be inconclusive, according to The Telegraph. The publication added that the bank will likely defer the royals' request to the government.

"Italy should do what is right and fitting and restore the jewels to my family," Prince Emanuele Filiberto of Savoy told The Telegraph's Nick Squires. "The monetary value of the jewels doesn't interest us. What is more important is the historical and sentimental value that they have for the family."

Prince Emmanuele added that while other nations keep their jewels on display, like Great Britain keeping its crown jewels in the Tower of London, this has never been the case for Italy.

"Italy is about the only republic in the world where the private property of the ex-royal family is still in the hands of the State. It's shameful. Even Russia and Yugoslavia restored private possessions to their royals," he said.

Prince Emanuele is the grandson of the last king of Italy and is considered a celebrity in the country. The prince previously told Insider that he spent the first 30 years of his life in exile after the Italian government banned male heirs from returning to the country. The ban was finally lifted in 2002.

Representatives for Prince Emanuele Filiberto of Savoy and the Bank of Italy did not immediately respond to Insider's request for comment.

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