Margaret of Austria, wife of King Philip III of Spain, stands resplendently dressed, her royal authority conveyed through the formality of the portrait as well as her sumptuous attire. She is bedecked with jewels: Her skirt is fastened with decorative clasps, long strands of pearls encircle her neck, and intricate chains adorn her waist and wrists. In the center of her chest is a large brooch that was part of the Spanish crown jewels for several cen-turies and appears in numerous royal portraits. It contains two gems that were so famous that they were given nicknames: The large pearl was known as “La Peregrina” (The Pilgrim), and the blue diamond was called “El Estanque” (The Pond).