New York – The
Collection of Elizabeth Taylor: The Legendary Jewels Evening Sale achieved
$115,932,000 (£74,196,480/€89,267,640), becoming the most valuable jewelry
auction in history* and setting the tone for Christie's highly anticipated
four-day series of landmark auctions devoted to the iconic collection of Elizabeth
Taylor (13-16 December 2011). A tribute to the discerning eye of this
celebrated film star, fashion icon, and humanitarian, the sale was 100% sold by
lot and 100% by value, with 24 of the 80 jewels fetching over $1 million and 6
jewels over $5 million. 7 new world auction records were established: 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.
The top lot of the sale was the legendary 16th
century pearl La Peregrina which realized
$11,842,500 (£7,579,200/ €9,118,725), setting two world auction records: for an
historic pearl (against the previous record of $2.5 million set by La Regente at Christie's Geneva, 2005) and for a pearl
jewel (surpassing the $7 million record paid for The Baroda Pearls at
Christie's New York, 2007). A gift from Richard Burton in 1969 (having been
bought for $37,000 at auction), this remarkable pearl of 203 grains in size is
equivalent to 50 carats. Discovered in the 1500s in the Gulf of Panama, it
became part of the crown jewels of Spain and ranks as one of the most important
historic pearls in the world. Elizabeth Taylor designed the Ruby and Diamond
Necklace with Al Durante of Cartier to offset what she called "the most perfect
pearl in the world."
"Elizabeth Taylor's magnificent collection of jewels
has captivated the auction world this fall, resulting in world-wide bidding and
this first landmark result. Without a doubt the greatest private collection of
jewelry ever assembled, this sale marked the powerful start of Christie's
historic week of sales auctioning the Jewelry, Fashion, Accessories and
Memorabilia from The Collection of Elizabeth Taylor between the 13 – 16
December, in tandem with the online-only sale (3 – 17 December)," said Marc Porter, Chairman and President of
Christie's Americas.
To
see pictures of the jewels and complete story, please click here.
