One of the most talked about topics in the jewelry world was the recent Christie’s auction of Elizabeth Taylor’s famed jewelry collection. Titled “The Collection of Elizabeth Taylor,” the auction took place Tuesday, December 13 and Wednesday, December 14 at Christie’s Rockefeller Center headquarters in New York City.
The auction not only set Christie’s records, it turned out to be the most valuable auction in history. The first night’s auction brought in a surprising $115.9 million, but the second night shattered records at $21.3 million. The combined total added up to almost $137.2 million – almost three times what Christie’s estimated the sale would bring.
According to a Christie’s representative, the atmosphere at the auction was electric from start to finish with collectors from Asia, the Middle East, Europe and America chasing each individual jewel with a tenacity never seen before.
Christie’s also reported that the grand total made “The Collection of Elizabeth Taylor” the most valuable private collection of jewelry ever offered at auction, as well the most valuable jewelry sale in auction history. Taylor’s auction broke additional 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 sum will be funneled into the Elizabeth Taylor Trust and added to Taylor’s estate already estimated at $600 million to $1 billion. A portion of the proceeds will go to the Elizabeth Taylor AIDS Foundation.
A New York Night to Remember
Elizabeth Taylor, star of classic films including “Giant,” “National Velvet,” “Who’s Afraid of Virginia Woolf?,” “Cat on a Hot Tin Roof” and “Cleopatra” died in Los Angeles in March at age 79, leaving behind a jewelry collection valued as high as $150 million. Taylor was known for her intense love and extensive knowledge of jewelry, and her vast collection included pieces from Cartier, Van Cleef & Arpels and Chopard. Christie’s offered 80 lots, and all were sold during the eight-hour sale. Only one item sold for its auction estimate, but most pieces sold for prices 10 times their high estimate. The longest and most intense bidding was for the Richard Burton wedding rings, the last lot of the two-day sale.
Some Twinkly Highlights of the Sale
- A Pearl Named La Peregrina. A pearl, diamond and ruby necklace known as “La Peregrina” set the world record by selling for $11,842,500. Christie’s had estimated between $2 million to $3 million. The necklace was purchased by Richard Burton at auction for $37,000 and given as a gift to Taylor in1969.
- An $8 Million Diamond Ring. A 33.19-carat diamond ring also given to Taylor by Richard Burton sold for $8,818,500.The ring was estimated by Christie’s to sell between $2.5 and $3.5 million.
- A Diamond Necklace from Michael Jackson. A diamond bracelet given to Taylor by Michael Jackson sold for $194,500. It’s estimated sale price was $30,000 to $50,000.
Taylor’s Art to Auction in February
Elizabeth Taylor’s collection of Impressionist and Modernist art will go on sale at Christie’s in London.
tfwire 