Zara Phillips, Queen Elizabeth II's eldest grand-daughter, has done a deal with the celebrity magazine Hello! for pictures of her newborn baby.
While most other British royals scrupulously guard their private lives as best they can, Phillips is the most senior member of the royal family to sell baby photographs to the glossy magazines.
The former equestrian world champion, her husband Mike Tindall -- the ex-England rugby union captain -- and their baby daughter Mia appear in the March 3 edition of Hello! weekly magazine.
"First photos: Zara and Mike Tindall present beautiful baby Mia", says the front cover, with a full-page picture of the trio.
The Daily Mail newspaper claimed Phillips and Tindall, a World Cup winner, had sold the pictures for £150,000 ($250,000, 180,000 euros).
A spokeswoman for the couple told AFP: "Anything to do with finance is purely speculation. We would never comment about anything to do with any financials.
"The pictures were done by a friend of theirs and it was an opportunity that came up recently and they just decided to do it."
Asked if Queen Elizabeth was aware of the deal, the spokeswoman said: "We would not comment on anything to do with Buckingham Palace."
The palace declined to comment when contacted by AFP.
Mia, born on January 17, is 16th in line to the throne, directly behind her Olympic medal-winning mother.
Phillips, 32, is the daughter of Princess Anne, the queen's only daughter.
Anne's children bear no royal titles and do not conduct duties on behalf of the queen, so therefore do not receive any public income.
Anne's son Peter Phillips sold his wedding pictures to Hello! for a reported £500,000 in 2008. Attended by the queen and senior royals, it is not known if the monarch was happy with the decision.