November 26, 2020

Elizabeth Taylor’s jewelry sells for $115 million

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FILE - This Sept. 1, 2001, file photo shows Elizabeth Taylor's "La Peregrina," an early 16th century pearl, ruby and diamond necklace by Cartier, that was gift from Richard Burton to Elizabeth Taylor, at Christie's, in New York. A pearl known as "La Peregrina" purchased at auction for $37,000 in 1969 by Burton for Taylor reached the world record price Tuesday Dec. 13, 2011 of $11,842,500. It was estimated to sell for $2 million to $3 million. (AP Photo/Richard Drew, File)

NEW YORK (AP) — Elizabeth Taylor’s jewelry collection fetched a record-setting $115 million — including more than $11.8 million for a pearl necklace and more than $8.8 million for a diamond ring given to her by Richard Burton — at an auction of gems and other memorabilia amassed by the late actress.

The 33.19-carat diamond ring given to Taylor by the actor she married twice, sold for $8,818,500.

The pearl, diamond and ruby necklace, known as “La Peregrina,” purchased at auction for $37,000 in 1969 by Burton for Taylor reached the world record price of $11,842,500. It was estimated to sell for $2 million to $3 million. The price surpassed the previous auction record for a pearl, set in 2007 at Christie’s auction house in New York City with the sale of The Baroda Pearls for $7,096,000.

The ring, estimated to sell for $2.5 million to $3.5 million, was included in a collection of Taylor’s necklaces, earrings, pendants and rings and other gems that went on sale Tuesday night at Christie’s in New York. The ring was purchased by a private buyer from Asia, according to a Christie’s spokesman.

Among the other high-profile items was a diamond bracelet given to the “National Velvet” and “Cleopatra” actress by singer Michael Jackson, with an estimated sale price of $30,000 to $50,000. It sold for $194,500.

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