Wednesday, December 14, 2011

Elizabeth Taylor's jewelry fetches record $115 million at auction

Elizabeth Taylor may be gone, but her jewelry is still turning heads. The actress's personal collection of jewels went up for auction Tuesday night -- and fetched a record $115 million.

A pearl, diamond and ruby necklace known as La Peregrina, a gift to Taylor from Richard Burton in 1969, sold for a record $11.8 million. Christie's, which conducted the auction, had estimated the necklace would sell for $2 million or $3 million. Burton paid $37,000 for it.

A 33.19-carat diamond ring, which was projected to go for $2.5 million to $3.5 million, sold for $8.8 million.

That sum for a single white diamond could have bought a whole lot of Taylor's White Diamonds.

A diamond bracelet given to Taylor by close friend Michael Jackson sold for $194,500.

Eighty pieces from Taylor's jewelry collection were auctioned Tuesday in New York, with the remaining 189 items to go Wednesday. Christie's has already blown past the $30 million it predicted as the total sale price. A portion of the proceeds will go to the Elizabeth Taylor AIDS Foundation.

More from the late actress' estate will go on sale later in the week, including some of her film scripts and costumes. In February, her collection of Impressionist and Modernist art will go on sale in London.

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