Liz Taylor’s Jewelry Breaks Records at Christie’s

The Elizabeth Taylor collection of jewels surpassed expectations fetching record prices at Christie’s New York. The auction house reported that the first of the four day sale garnered $115.9 million, making it the most valuable jewelry auction in history. All of the 80 lots placed on offer were sold.

''For many, there was both the desire to share in the stories behind Elizabeth Taylor’s iconic jewels and to dream of perhaps acquiring one. For others, the sale provided the opportunity to purchase unique jewels, which brought Elizabeth Taylor such joy and reflect her remarkable taste and connoisseurship,'' said François Curiel, the international jewelry director and president of Christie’s Asia.

The top lot sold yesterday was ''La Peregrina'' (pictured), a natural pearl, diamond, ruby and cultured pearl necklace by Cartier which fetched $11.8 million, well above the high presale estimate of $3 million, and setting a record for a pearl jewel sold at auction.

The famous ''Elizabeth Taylor Diamond,'' a rectangular-shaped, 33.19-carat, D, and potentially flawless diamond sold for $8.8 million, or $265,697 per carat, to a private Asian buyer. The diamond was given to Taylor in 1968 by her husband at that time, Richard Burton, and had a presale estimate of $2.5 million to $3.5 million, and set a new auction record for a colorless diamond per carat.

The third top lot was ''The Taj Mahal Diamond,'' which was a gift from Burton on Taylor's 40th birthday. The piece is an imperial Mughal Spinal necklace weighing 1,131.59 carats set with an inscribed heart-shaped table-cut diamond sold for $8.8 million, against a presale estimate of $500,000.

Other big sellers included an 18.26-carat, emerald and diamond pendant brooch by Bulgari, which sold for $6.6 million, or $360,268 per carat, while an emerald and diamond necklace by Bulgari fetched $6.1 million.

In total, seven new auction records were set, including the price per carat for a colorless diamond and for a ruby; a pair of natural pearl ear pendants; a pearl jewel; an Indian jewel and an emerald jewel, Christie’s reported.

Marc Porter, the chairman of Christie’s America’s, noted that the auction drew in bids from all over the world. In the run up to the event, Christie’s took the collection to Hong Kong, Moscow, London, Tokyo, Los Angeles, Dubai, Geneva and Paris. ''Thousands of collectors and admirers braved long lines to get a glimpse of one of the greatest collections of all time,'' he said.

The second and third sessions of the jewelry collection will take place December 14, along with Taylor’s iconic haute couture collection. Her fashion and accessories collection is scheduled to go under the hammer on Thursday while her fine and decorative art and film memorabilia is scheduled to be auctioned on Friday. Taylor’s impressionist and modern art collection is scheduled to be auctioned in February by Christie’s London.

Taylor was 79 when she died on March 23, 2011.

-Rapaport

Christie's Creates 'Online Only' Sale of Select Items from Elizabeth Taylor

Christie's will open registration for an online only portion of its Elizabeth Taylor auction on November 18 at www.christies.com/etonlineonly.

The online portion of the larger sale, which will be held December 13 through 16, will include close to 1,000 lots of fine and costume jewelry, fashion items, accessories and memorabilia. Estimates start as low as $100 and bidding begins December 3 and runs through December 17.

Highlights from the online portion of the auction went on view at Moda Operandi and include items such as a Ruser hummingbird brooch, Chaumet ring, Valentino ear clips, Chanel sautoirs and ear clips just to name a few top designer items.

"The online-only sales provide an additional means for her legions of collectors and fans to participate in the auctions, no matter where they live," said Marc Porter, the chairman of Christie's Americas.

The online sale will enable continuous bidding during the period.

-Rapaport

Elizabeth Taylor Jewelry Auction Benefits AIDS and HIV

Elizabeth Taylor is dead, but a jewelry auction for AIDS and HIV sufferers is taking place in California. A watch Michael Jackson gave her could go for $500,000. During her life, her charity and foundation supported research towards a cure for the condition.

The late actress and philanthropist loved the finer things in life. She took the phrase "Diamonds are a girl's best friend" to a whole new level.

According to CBS NEWS, as part of a traveling international effort to address growing concerns of AIDS in Africa and other parts of the world, precious jewels Elizabeth Taylor owned will be on display for auction.

The Liz Taylor jewels collection begins its journey around the world in West Hollywood, California, where 269 pieces will go to the highest bidder in each lot.

Among the treasured Taylor collection are primarily things her former husband (one of many) actor Richard Burton bought her. It was said he gave her lavish things to make peace after spats or because it was just an expression of his love.

Not only will buyers or enthusiasts see a wristwatch her dear friend, the late Michael Jackson, gave her, the famed 33.19 carat white diamond Burton ring is on display. It was a 1968 gift to Elizabeth Taylor.

Jewelry from another former husband, Mike Todd, will be on display as well. His antique diamond tiara to Taylor is dazzling. It is valued between $60,000 and $80,000.

Other items in the lots to help HIV and AIDS are a 16th century Burton-bought pearl surrounded by rubies on a necklace. It will probably fetch up to $3 million.

From West Hollywood, California, the traveling international auction heads to Paris, Geneva, Hong Kong, and Dubai. And on its last stop, New York will host the event for Taylor's AIDS foundation on Dec. 13 to 16.

Sadly Elizabeth Taylor died months ago. However, the jewels she loved the most will continue supporting the cause she supported the most. Hopefully, one day a cure for Acquired Immune Deficiency Syndrome is found.

-Celebs Gather