A Send-off Worthy of a True Hollywood Star
16.Dec,2011
After an extensive world tour, the late Elizabeth Taylor’s epic jewellery collection smashed worldwide auction records as it was sold off in New York yesterday. Some 269 diamonds, pearls, rubies, rings, and necklaces were among the lots, as well as outfits and Oscars owned by the lauded star, who passed away in 2010. Expected to raise around $30 million, by the time the last bid was placed, the collection had instead fetched a phenomenal $115,932,000 USD.
Nearly every item sold for staggeringly more than was estimated as bidders in New York battled phone-in buyers from around the globe. Six other world records were broken throughout the course of the night, including the price paid for a pearl, an Indian jewel, as well as the per carat price for a colorless diamond or ruby.
The biggest lot of the night came in the form of La Peregrina, a 16th Century pearl on a pearl, diamond and ruby mounting, designed by French label Cartier. The stunning necklace estimated at $2 to $3 million, sold for close to $12 million USD.
The Taj Mahal sold for $8,818,500 USD, 20 times its estimated worth.
The famed ‘Elizabeth Taylor Diamond’ estimated at $2.5 to $3.5 million, sold for the same $8,818,500 USD.
La Peregrina was the biggest lot of the auction, coming in at $11,842,500 USD
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