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Today is Princess Anne‘s 75th birthday. To mark her milestone, the royals shared a portrait of Queen Elizabeth II’s daughter donning the same dazzling tiara she wore for her 23rd birthday portrait.

Now, the diamond experts at the U.K. jewelry retailer Steven Stone have taken a closer look at the diadem Anne has been wearing for five decades and are sharing the details about this stunning tiara.

“The Diamond Festoon Tiara was presented to Princess Anne in 1973 by the World Wide Shipping Group of Hong Kong, in recognition of her role in christening one of their ships,” Maxwell Stone told Showbiz Cheat Sheet. “Believed to date back to the early 20th century, it carries not only exquisite craftsmanship but also a rich sense of history.

“Renowned for its delicate openwork design, the tiara showcases graceful festoon-style diamond swags and pendants, its perfectly balanced silhouette combining elegance with remarkable lightness. Its refined proportions and comfortable fit have made it one of the Princess Royal’s most cherished choices for formal occasions.”

He added: “The tiara made its public debut in 1973, when Princess Anne wore it for a series of portraits by Lord Lichfield to mark her 23rd birthday, as well as in pre-wedding photographs with her first husband, Captain Mark Phillips. Since then, it has graced countless high-profile occasions, from Queen Elizabeth II’s Silver Jubilee Gala to numerous State Banquets.

“While placing a monetary value on such a rare and historically significant jewel is challenging, I’d estimate the tiara’s worth to be in the region of $4 million.”

Related: Princess Anne’s Favorite Accessory Cost as Much as a House