ELIZABETH TAYLOR JEWELRY AUCTION

photo AP: Stan Honda/AFP/Getty Images

Elizabeth Taylor - the hollywood icon and fashion starlet - passed away in march 2011. She was the owner of one of the most extensive and "fabulous" wardrobes and jewels in America.

This past mid December, Christie's held an estate sale of late starlet Elizabeth Taylor's jewelry, clothing, and fashion accessories. Their auction totaled a 150 million dollars - 115 of which was jewelry alone. Jewelry pieces ranged from 30 thousand to 300 thousand a piece, and no article of clothing was sold for under $2,000.

This collection is considered to be the world's most impressive and best private collections, and has taken several world records along with it. Her jewelry collection was valued at $30,000. It ended up selling for 38 times more, making it not only the record breaker for an auction revenue in jewelry, but a record breaker for any auction in history! Included are also the Taj Mahal - the most expensive piece of Indian jewelry ever sold, and the La Peregrina pearl, the most expensive pearl in the world.

There are a myriad of factors which explains why her things sold for such a jaw dropping amount. All other variables aside, the pieces of jewelry themselves were the largest finest of their kind. The best designers, Large gems, perfectly cut diamonds, boldly designed arrangements; these themselves would fetch a higher price than their peers. Another reason is the collection itself. It is the most varied and extensive private jewelry collection, with pieces from all over the world, and pieces with deep histories. Her collection is the kind written about by the likes of Agatha Christie and Sir Arthur Conan Doyle. On top of it all, it was her personal collection. These pieces were owned by a Hollywood icon and superstar, and also worn by her.

Today's red carpet stars have armies designers create their looks for them, head to toe. But in Mrs. Taylor's day, the artist had to do it all herself. She created her own look and paid for it all herself. Well, almost everything.

There were many gifts featured in her collection, most famously the record breaking $11.8 million "La Peregrina" pearl necklace designed by Cartier and given to her by Richard Burton, one of Taylor's seven husbands and biggest contributor to her collection.  He bought the necklace for her in 1969 for $37,000. (pictured above) "It's a 16th century pearl which belonged to many kings and queens and other royals" says Chairman of Christie's Jewelry Department, Francois Curiel. Burton also gave her a 33.19-carat diamond ring which sold for $8.8 million. Taylor also received gifts from the late singer, Michael Jackson. A personal favorite of hers was a whimsical jewel encrusted necklace made of figures of monkeys, and a matching set of earrings. Another gift featured in her collection was an ivory necklace featuring ivory opera passes from the estate of Edith Head


Van Cleef and Arpels, along with Bvlgari and Cartier made a multitude of appearances amongst her jewels, each one more sumptuous than the last. Click here to see online catalogue of her entire collection.


Elizabeth Taylor wasn't covered in glittering gems merely because she was a movie star and could afford it. Jewelry was a burning passion for her. So much so that in 2002 she wrote a book about them tilted "My Love Affair With Jewelry." It is probably the world's most expensive hobby, but she sought it out with gusto. She was known to all the top jewelers, and was fortunate enough to be married to both Richard Burton and Mike Todd, who showered her from head to foot in the most expensive and historically rich pieces they could find. She ironically writes:

"As I look at some of my jewels I realize what a very lucky girl I am. Sometimes I wonder what will become of everything, because just like the Duchess of Windsor's collection, they will be up for auction one day. They will be scattered to the four corners of the world, and I hope that whoever buys each pieces loves it as much as I do and takes care of it and realizes that having jewelry is a temporary gift. In truth, we 'owners' are just the caretakers. Nobody owns beautiful paintings. Nobody every owns anything that is beautiful. We are only the guardians."