The very last sentence at Ursula's site explains what happened to the central element of the tiara. The fate of the remainder of the tiara is unknown.
"In 1966, the central element was sold at Christie's with the brooch fitting detachable so it could be worn as a pendant. It sold for £5000."
Laura --Previous Message-- : Does anyone know, or have pictorial evidence : of, the Princess Royal ever having worn the : Emerald VAD tiara she was given at the time : of her wedding in February 1922? I've seen : the photos on Ursula's site of that tiara : (see link), but it seems to have vanished : without a trace. Did she sell it, or pass it : onto anyone? : Cheers, Cerys : : : http://www.royal-magazin.de/england/mary-lascelles-harewood/mary-vat-tiara.htm :