Princess and Dragon turning hat into gold

The Dragons’ Den star met the starting price of £5,000 when bidding opened for the flamboyant Philip Treacy creation.

By lunchtime yesterday four other bids had been made on the website, taking the price to £5,400.

The headpiece sparked an outbreak of mirth and derision when the young royal donned it for the nuptials of Prince William and Kate Middleton last month.

Royal wedding watchers compared it to a Turkey Twizzler, a toilet seat and a pretzel and Facebook pages sprung up in its honour, attracting thousands of followers.

Undeterred, the 22-year-old princess decided to sell off the curious item for charity, with Unicef and Children in Crisis to benefit from the funds raised.

Unicef was unable to confirm who had outbid Bannatyne: “We’re so pleased Princess Beatrice has done this and every penny raised will make a difference.

“Already £5,000 is enough to provide four essential midwifery kits, which contain all of the medicines, medical supplies and sterilisation equipment for a maternity ward to support the safe delivery of 50 babies.”

Bannatyne, a Unicef UK ambassador, said: “Whatever anyone thinks of the hat, it’s fantastic that Princess Beatrice is doing this for Unicef and Children in Crisis. Good for her...

“I’d encourage everyone to get bidding to raise as much money as possible.”