LONDON (AP) _ In the movie, the necklace was tossed into the ocean. In real life, it's going to be kept under lock and key.

British jewelers are creating a sapphire and diamond necklace modeled on the fake one worn by actress Kate Winslet in the film ``Titanic.''

The real version, being made by Asprey jewelers, will be valued at $3 million, the Daily Telegraph reported.

Asprey said it has spent $1.5 million purchasing a 170-carat Sri Lankan sapphire, as well as 107 diamonds weighing a total of 36 carats to recreate a real version of the film necklace.

The newspaper said the jewelers will send the piece to Beverly Hills next week to be sold at auction March 21. All proceeds from the sale will go to the Diana, Princess of Wales Memorial Fund, and an AIDS charity.