Princess Margaret's heirlooms that were sold for £14million by her son are up for sale again including five-carat diamond ring valued at £1.1million - that went for £142,000 in 2006

It's been 14 years since David Linley infamously auctioned off precious valuables belonging to his mother, the late Princess Margaret, to settle a £3 million inheritance tax bill.

And now the family's treasured possessions and mementos are up for grabs again.

A collector who snapped up 50 of the 800 items on sale in 2006 is now offering them up for sale and with altogether heftier price tags.

This includes the 5.16 carat diamond ring - the collection's most expensive item - which sold in 2006 for £142,400 and is now on sale for £1.1 million.

A collection of 50 items once belonging to Princess Margaret are going on sale including this 5.16 carat diamond ring - the collection's most expensive item - which sold at an auction held by her son David Linley in 2006 for £142,400 and is now on sale for £1.1 million

The auction also features a Macle Diamond Crystal Ring , By Stuart Devlin, which was sold in 2006 for £30,000 and is now on sale for £225,000 and a bed once belonging to the Queen's grandparents which the collector bought for £57,600 and is now selling for £125,000

And that trend continues with other items of jewellery as the sale also features a Macle Diamond Crystal Ring, by Stuart Devlin, which was sold in 2006 for £30,000 and is now on sale for £225,000.

A Cartier wristwatch which was bought for Princess Margaret as a Christmas present in 1950 and sold in 2006 for £57,600 is now on sale for £125,000.

Away from the jewellery, other items have also increased dramatically in value including the bed which once belonged to the Queen's grandparents, the Earl and Countess of Strathmore.

The bed fetched £48,000 at auction and is now being offered for sale for £175,000 by the mystery collector.

The man, who does not want to be identified, has set up a website to host the sale - royalpossessions.co.uk - and feels the time is right due to the popularity of the Netflix series The Crown.

Princess Margaret pictured in her garden at Kensington Palace with some of the balustrade from the Royal Stand at Ascot which was moved when the stand was rebuilt. A section of the railing which was left over and measures 25 metres is available for sale for £25,000

Pictured: a piece of the Ascot balustrade which is on sale for £25,000 and a black leather briefcase embossed with the initials ER below a crown which is on sale for £2,990

He told the Sunday Times: 'People are at home watching The , aren't they? So it's a great time to sell.

'It's not just an investment. It's a talking point: "I love your ring, darling." "Oh, yes. It was Princess Margaret's, you know" — what a great table conversation.

'The stuff should never have been sold in the first place. But here's an opportunity. Wow. It's a piece of history for your children's children.'

In 2006, David Linley and Lady Sarah courted controversy when they netted £14 million after selling 800 family heirlooms including Princess Margaret's wedding tiara, which fetched £926,000.

More than 800 items went under the hammer over the course of the two-day auction which saw extremely valuable be sold to the highest bidder.

A Cartier wristwatch which was bought for Princess Margaret as a Christmas present in 1950 and sold at the auction in 2006 for £57,600 is now on sale for £125,000 on the website

Pictured: An Edwardian Mahogany Bowfront Sideboard Retailed by S.J. Waring & Sons., Ltd., early 20th Century which is on sale for £12,500. It sold for £5,400 at auction in 2006

More than half the items were bought by people in the UK, according to sales figures, with some 16 per cent going to Americans and about ten per cent to Asia.

This included Margaret's wedding day tiara which went to a female collector from China for £926,400.

A portrait of young Princess Anne by Italian artist Pietro Annigoni went for £680,000 while a gold Cartier cigarette case given to the princess by her father George VI fetched £102,000.

The auction – which was held at Christie's and regarded as somewhat unseemly because of the seemingly short space of time since his mother's death – was originally estimated to raise £3 million.