Elizabeth Taylor’s jewels auction breaks record

Hollywood legendary actress Elizabeth Taylor’s jewels surpassed expectations of the auction house as they broke records by leaps and bounds at Christie’s sale in New York. The four day auction generated revenues worth $116m on the first day itself. The Christie’s sale, The Collection of Elizabeth Taylor: The Legendary Jewels Evening Sale has broken the record for a single-owner jewelry collection.

The sale was successful in selling all 80 lots on offer, achieving the estimated sale revenues. Of the 80 lots, 24 sold for over $1 million and six for over $5 million. The top lot was ‘'La Peregrina’ - a natural pearl, diamond, ruby and cultured pearl necklace creation by Cartier, which was bought for $11.8 million (presale estimate was $3 million). this jewel set the record for a pearl jewel sold at auction. Also, the ''Elizabeth Taylor Diamond,'' a rectangular-shaped, 33.19-carat, D, and potentially flawless diamond sold for $8.8 million, or $265,697 per carat, creating a record for a colorless diamond per carat. Its presale estimate was $2.5 million to $3.5 million.

The third top lot was ''The Taj Mahal Diamond,'' – and it created a record for an Indian jewel selling for r $8.8 million (presale estimate was $500,000).

The sale set seven new auction records, including 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, reports add.