Jewelled golden hare behind picture book Masquerade could sell for £20,000

A jewelled golden hare that sparked a national treasure hunt in 1979 could fetch an estimated £15,000 to £20,000 when it appears at auction for the first time in almost 37 years.

The necklace was inspired by Jack Hare, the central figure of Kit Williams’ picture book Masquerade, which became a publishing sensation not only for its exquisite pictures and charming story but the clues it contained to locate the artefact Williams’ had created and buried.

The book, which featured a number of oil paintings, follows Jack’s journey after he is entrusted to deliver treasure from the moon to the sun.

Artist and author Williams, along with former University Challenge presenter Bamber Gascoigne, buried the golden jewel in the English countryside in Bedfordshire near a cross-shaped monument to Catherine of Aragon, the first wife of Henry VIII, in 1979.

The 18-carat gold necklace set with gemstones, known as the Masquerade Hare, was concealed in a terracotta casket engraved with the legend “I am the keeper of the jewel of the Masquerade, which lies waiting safe inside me for you… or eternity.”

The Masquerade Hare (Sotheby’s/PA)

The location of the necklace, which was valued at £5,000 at the time it was made, could only be discovered by solving a series of complex riddles and the clues were solved correctly by two Manchester physics teachers in 1982.

The treasure had already been claimed by another searcher, however, who, it later emerged, had been given the approximate location through his connection with Williams’s former girlfriend.

The hare disappeared after being bought by an anonymous overseas buyer in the late 1980s and slipped into a private collection until 2009 when Williams was reunited with his hand-made amulet.

The makers of a BBC Four documentary, The Man Behind The Masquerade, traced the owner to Egypt and brought the item over for a reunion with Williams.

The Masquerade Hare, which was made in 1978 as Williams was finalising his book, is set with a ruby eye and features depictions of a rodent, bird and frog.

The necklace will be sold online as part of Sotheby’s London Fine Jewels Sale, which closes on Friday November 28.

Also being auctioned is Elizabeth Taylor’s turquoise cuff, which carries a pre-sale estimate of £5,000 to £7,000.

A diamond and imitation pearl necklace once owned by the author Dame Barbara Cartland is among the other items up for auction.