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Elizabeth Taylor Auction

December 14, 2011 by staff 

Elizabeth Taylor Auction, Elizabeth Taylor’s jewelry collection fetched a record-setting $115 million — including more than $11.8 million for a pearl necklace and more than $8.8 million for a diamond ring given to her by Richard Burton— at an auction of gems and other memorabilia amassed by the late actress. The 33.19-carat diamond ring given to Taylor by the actor she married twice, sold for $8,818,500.

The pearl, diamond and ruby necklace, known as “La Peregrina,” purchased at auction for $37,000 in 1969 by Burton for Taylor reached the world record price of $11,842,500. It was estimated to sell for $2 million to $3 million. The price surpassed the previous auction record for a pearl, set in 2007 at Christie’s auction house in New York City with the sale of The Baroda Pearls for $7,096,000.

The ring, estimated to sell for $2.5 million to $3.5 million, was included in a collection of Taylor’s necklaces, earrings, pendants and rings and other gems that went on sale Tuesday night at Christie’s in New York. The ring was purchased by a private buyer from Asia, according to a Christie’s spokesman.

Among the other high-profile items was a diamond bracelet given to the National Velvet and Cleopatra actress by singer Michael Jackson, with an estimated sale price of $30,000 to $50,000. It sold for $194,500. All prices include the buyer’s premium.

Taylor, a screen goddess who also starred in classics such as Giant, Who’s Afraid of Virginia Woolf?? and Cat on a Hot Tin Roof, died in Los Angeles in March at age 79. A jewelry lover, she had pieces from some of the most famous names in the jewelry world, including Cartier, Van Cleef & Arpels and Chopard, in her collection.

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