Athina Onassis, the heiress once dubbed 'the richest little girl in the world', is selling millions of dollars of jewellery she inherited.

The only surviving descendant of Greek shipping magnate Aristotle Onassis, 23-year-old Athina has decided to sell more than 40 pieces owned by her mother, Christina, who died when she was three.

The sale is prompted not by a lack of money - Athina inherited a fortune estimated at anything up to $2 billion - but by her decision that she has no need of what she sees as the glittering accoutrements of a bygone era.

The jewellery collection has an estimated value of $16 million and is being auctioned on Wednesday. It is on public show at Christie's in London today.