The Savoy claim i Crown Jewels, kept in a casket buried in the Bankitalia vault for 75 years. Finally we arrive at the first mediation meeting to discuss the ownership of the treasury between the lawyer of the House of Savoy, the lawyer Sergio Orlandi, and the representatives of the Bank of Italy, the Prime Minister and the Ministry of Economy. The meeting was convened by the mediator Giovanni De Luca, after the request made on November 29, 2021 by the heirs of the last king of Italy, Umberto II. If the parties fail to reach an agreement, as it likely will, the heirs of the "King of May" will proceed to sue the state.
At the request for return of the jewels last November, the lawyers of Bankitalia - Marco Di Pietropaolo and Olina Capolino - had rejected the request arguing that the return could not be accepted "taking into account the responsibilities of the custodian". An answer that the Casato obviously did not like.
The jewel feud between Savoy and the State
But why does the former royal house claim these jewels? And on what basis are you making this proposal? Unlike other real estate and movable assets that belonged to the Savoy in Italian territory until 1946, the jewels have never been confiscated, like the rest of the assets. According to the lawyer Orlandi, the lack of confiscation justifies the claims of the Savoys.
But three quarters of a century have passed for the request of the Savoy. According to some rumors, the heirs of the King of May had not claimed them before for fear that such a request could fuel a wave of resentment, given that the males of the House of Savoy were not able to set foot again in Italy until 2003, when the text of the law which forbade entry.
But to understand how these jewels ended up in via Nazionale, we need to take a step back to the birth of Republic sanctioned with the referendum of 2 June 1946. Three days after the end of the monarchy, the minister of the Royal House Falcone Lucifero, appointed by the former king Umberto II, delivered the jewels to the governor of the Bank of Italy, at that time Luigi Einaudi, future first president of the Republic. In the delivery report it is written: "The precious objects that represent the so-called endowment jewels of the Crown of the Kingdom are entrusted to the central cash desk for custody, to be kept at the disposal of those entitled to it".
A deliberately vague formula, according to Einaudi himself. Because it leaves room for the possibility that those jewels could one day return to the royal family. Even if, what lies ahead is a very long journey.
How much are the Savoy jewels worth?
Another mystery of the story is the value of the objects stored in the vault. Since since 1946 it has only been possible to inspect and inventory the contents once. It was 1976 when the Rome prosecutor's office, following the rumors circulating regarding the tampering and theft of some brooches belonging to the Crown's assets, had decided to break the seals and ascertain that everything was in order. The verification was done by the maison Bulgari who estimated the value at around a few million.
However, the commercial value is potentially much higher. Based on the valuations applied in the auctions of Sotheby's for the jewels that belonged to queens and princesses, the treasure could be worth around 300 million. Given that last May in Geneva the tiara that belonged to the wife of Amedeo I of Savoy was auctioned for 1,6 million dollars.
What is known for sure is the contents of the chest. The box, covered in leather on three levels and protected by 11 seals (5 from the Ministry of the Royal Household, 6 from the Bank of Italy), contains 6.732 diamonds and 2 pearls, mounted on necklaces (worn by Queen Margherita), earrings, diadems and various pins. The stones have different weights and cuts for a total of almost 2 carats. The jewels include, for example, a rare pink diamond mounted on a large bow-shaped brooch, the famous tiara of Queen Margherita, later worn by Queen Elena. Then there are other jewels, including those of Princess Maria Antonia.
