Elizabeth Taylor auction sets records

Elizabeth Taylor auction brings in $116 million

WRITTEN BY: Janelle Vreeland
Elizabeth Taylor
Image Source: Wikiwatcher1 via Wikimedia Commons
Elizabeth Taylor

The Elizabeth Taylor auction has shattered records, raking in nearly $116 million.

Forbes reports that the Taylor auction has set a world record for an auction of a private collection of jewels. The Taylor auction also broke six other world records, including the price achieved for a pearl jewel, the per carat price for a colorless diamond, the price for an Indian jewel, and a ruby per carat.

The “La Peregrina,” the 16th Century pearl on a necklace designed by Cartier for Taylor, sold for $11.8 million and was the biggest seller of the night. The Taj Mahal Diamond, which Taylor received from Richard Burton for her 40th birthday, sold for $8.8 million. The diamond's original owner is believed to have been emperor Shah Jahan -- the emperor who commisioned the Taj Mahal in memory of his late wife Mumtaz-i-Mahal.

Christie's jewelry expert Francois Curiel explained that the items were priced according to their “intrinsic value” and not based on Taylor’s celebrity appeal.

Read more about the Elizabeth Taylor auction here.