The Winter Egg is studded with 1,660 diamonds and was a gift from Nicholas II, the last Emperor of Russia, to his mother, Dowager Empress Maria Feodorovna. The piece was crafted by Alma Theresia Pihl, one of only two female designers at Fabergé, and includes platinum, double-handled trelliswork basket set with carved quartz flowers and rose-cut diamonds

The Winter Egg will head to Christie’s auction house in London on 2 December and is expected to sell for more than £20 million ($AUD40.93 million). This piece has already set the world record for the sale of a Fabergé egg at auction on two occasions – returning $AUD13.95 million at Christie’s in Geneva in 1994 and $AUD14.72 million at Christie’s in New York in 2002.

“The highly important Winter Egg has twice set the world record for a work by Fabergé and represents a once-in-a-lifetime opportunity to acquire a masterpiece of such calibre,” Christie’s explained.

“It is among the most lavish of Fabergé’s Imperial creations and is widely regarded as one of the most original and artistically inventive Easter eggs the house produced for the Imperial family.

“The sale will also feature just under 50 exceptional works by Fabergé, including hardstone figures, animals, objects de vertu and furniture, offering collectors a rare opportunity to acquire masterpieces from this extraordinary collection.”

A total of 50 Imperial Easter Eggs were produced by Fabergé between 1885 and 1916. Of those, 43 eggs are still believed to exist and are located in museums around the world. It’s believed that seven, including the Winter Egg, are privately owned.

Fabergé was founded in 1842 and, earlier this year, was sold to a technology investor as part of a $AUD76.2 million deal.