Grand Sancy diamond for £100,000 (c. £6 million in 2017 currency), given to her as a morning gift the day after the wedding, by Paul's father. It was not until 1862 that the estate of Father Paul Demidov was finally divided. At the same time, the management of the Demidov companies were completely taken over by the young Paul Demidov, when mother Aurora stepped aside. Uncle Anatole Demidov had resigned from the company as early as 1856, when Paul had turned 17 years old. The result was a decline in the profitability of the company's production. There were several reasons. Anatole Demidov's annuity was disproportionate to the company's return. Paul himself spent a wasteful life and had little interest in running the company. Part of the reason was the abolition of serfdom in Russia in 1861, when mining companies also lost their free labour. As the situation worsened, mother Aurora had to return to the company's management. It was feared that the mines were running out, and costs rose when the workers had to be paid in cash. Paul had to sell his mansion in Paris along with its art collections, and also his luxurious villa at Deauville. The Demidov palace on the exclusive Bolshaya Morskaya Street in Saint Petersburg was rented and finally sold in 1875 to the Italian ambassador. Things came to such a state that Aurora's four stranded nut-sized morning gift pearls were being held by a bank as a security for the company's one million-rouble debt (c. $14,400,000 in 2017 currency). Pearls can be seen in the portrait of Aurora, with the young Paul. However, Anatole Demidov's death in 1870 alleviated the situation of the Demidov company, as his large annuity did not accumulate anymore in the company's expenses. Married life Paul's troubled life was changed by his falling in love with a lady-in-waiting from Saint Petersburg, Princess Maria Mescherskaya. Paul met Maria in Paris in the spring of 1867. His first marriage was 1 June 1867 to Princess Maria Elimovna Meshcherskaya (Saint Petersburg, 28 February 1844 - San Donato (or Vienna, per Ferrand), 8 August 1868). She died two days after giving birth to a son, Elim Pavlovich Demidov, 3rd Prince of San Donato, at Hietzing in the suburbs of Vienna 6 August 1868. Losing his wife had a lasting effect on Paul, who remained inconsolable for a long time, spending a long while in