«The existence of two versions of the same miniature suggests that the sitter was a lady of some prominence, and her cloth-of-gold bodice, rich jewels and fur sleeves show her to have been of high rank. One version, dating from c.1540, is in the Royal Collection. It was first said to be Katherine Howard around 1837, but may perhaps be identified with one of a group of miniatures at Lee Priory, Kent, that were described by George Vertue in the 1730s as being of Anne of Cleves, Jane Seymour and Katherine Howard. On the back of the miniature is engraved an inscription, probably dating from the nineteenth century: Catherine Howard, Queen of Henry 8th by Hans Holbein.
The other version of the miniature, signed by Holbein, was in the collection of Katherine's relative, Thomas Howard, Earl of Arundelm, in the early seventeenth century, and was engraved in 1645 by Wenceslaus Hollar without any identifying inscription, In 1743 it was engraved by Jacobus Houbraken as being Katherine Howard, which, together with Vertue's identification of the first miniature as Katherine in the 1730s, suggests that this portrait type was accepted as her likeness by 1730. The second miniature was acquired by Horace Walpole in the eighteenth century, although he believed that it probably portrayed Mary Tudor, Queen of France. It was sold to Walter Montagu-Douglas Scott, 5th Duke of Buccleuch, in 1842, and is still owned by the present Duke. The original miniature has been trimmed, as the hands are cropped.
Both miniatures show a young woman with dark auburn hair wearing a tawny-gold gown with a deep jewelled border at the neckline, a French hood, and an ouche and a pearl necklace that can be seen in portraits of Jane Seymour and Katherine Parr. Only recently have several portraits once thought to be of Lady Jane Grey been identified, on the evidence of jewellery, as Katherine Parr, and prior to that there were theories that Jane Seymour may have given away those jewels, perhaps to Mary Brandon, Lady Monteagle, who was possibly the sitter in these miniatures. But Katherine Parr is wearing the ouche in two portraits in the National Portrait Gallery, and the necklace in a portrait at Seaton Delaval Hall. Since the Queen's jewels were handed down from consort to consort, the sitter in the miniatures is almost certainly Katherine Howard; furthermore the 'square of jewels' edging the neckline of her bodice and the rich habiliments in the hood have been identified with wedding gifts given to Katherine by Henry VIII, the border being described in an inventory of her jewels as a 'square containing xxiii diamonds and lx rubies with an edge of pearl containing xxiii'. As has been observed, the identification as Margaret cannot explain why she is wearing the royal jewels. It is hard to understand why, given the evidence of jewellery, historians have been reluctant to accept these miniatures as Katherine Howard.» The Lost Tudor Princess: A Life of Margaret Douglas, Countess of Lennox by Alison Weir
I make her words mine.