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Elizabeth Taylor Fashions in Jewels

Elizabeth Taylor collections raises $157m from the sale of film icon Elizabeth Taylor’s jewellery, clothes, art and personal effects sold at the auction house Christies last week.

1,778 items were auctioned off over four days in New York breaking seven world records and surpassing all pre-sale expectations, the auction house revealed this week.

The sale set a world record for the most valuable sale of jewellery in auction history as well as the most valuable fashion collection offered at auction. Six items sold for more than $5m each, while a further 20 items sold for over $1m mark.

The most expensive lot was a 14th-century 50-carat pearl, diamond and ruby necklace called ‘La Peregrina’ which went for $11.8m – more than $8m over the estimated sale price. The piece was given to Taylor by her fifth husband Richard Burton in 1969, who purchased it at auction for $37,000. The late actress called the centrepiece stone “the most perfect pearl in the world”.

The auction, attracted buyers from 36 countires and marked the company’s first-ever online-only sale, which ran in parallel to the live auctions at Christie’s New York. The web auction generated over 57,000 bids and $9.5m in additional sales.

Taylor’s collection of impressionist and modern art is scheduled to be auctioned at Christie’s London in February.

The actress died March 2011, aged 79. The bulk of the proceeds from the auction will benefit her charity, the Elizabeth Taylor Aids Foundation.

*Source FT

Regional Sussex jewellers can take the opportunity to nominate their businesses in the forthcoming Sussex Fashion Awards 2012. Read more>

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