On March 23rd, online jewellery retailer Bidz.com will auction off a gold and diamond tiara designed by the late Gianni Versace to benefit the Aid for AIDS charity. The one-of-a-kind tiara, which contains over 1,200 diamonds and is worth an estimated $3 million, has been worn by celebrities including Madonna, Amber Valletta and Donatella Versace. The opening bid for the precious piece is $699,000. The Versace Tiara won the famous De Beers Diamonds International Award in 1995 due to the meticulous detail and craftsmanship Gianni Versace put into creating the piece.

The tiara, the star of Versace’s famous Atelier Collection, has previously been held only by private collectors. This is the first time in the history of the piece that it is being made available to the public for purchase. A substantial amount of the funds raised from the online auction will go to Aid for AIDS, a non-profit premier service provider for Los Angeles County whose mission is to provide direct financial assistance and critical support for the necessities of life to those impoverished and disabled by HIV/AIDS. More info at Versace Tiara

Sources: All About Madonna, Versace Tiara