Elizabeth Taylor auction brings in $116 million
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.