Would You Pay $3 million For Madonna’s Versace Tiara?

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…because it’s been auctioned off, so you could get your fair shot at the legendary Versace Tiara! The opening bid is $699,000 but it was estimated at $3 million.

Unique, previously highlighted by Madonna, Amber Valletta, Donatella herself, this Versace tiara was awarded in 1995 by De Beers Diamonds International. The golden tiara was worldwide appreciated for being meticulously crafted, containing over 1,200 diamonds in that gold structure. (more pictures after the jump)

Being the first time this tiara is available for public acquisition, the online auction marks more than a commercial milestone in the history of this piece of jewelry. Scheduled to take place on March 23rd, the auction is also a fund raiser for Aid for AIDS. I wonder if wearing a $3 million tiara makes you feel any wilder these recession days…