Wednesday, December 14, 2011

Taylor Jewelry Auction Shatters Records

Elizabeth Taylor's jewelry stash is making headlines again after raking in over 115 million dollars is sales during the Christies auction this week.
Taylor's treasured pieces were expected to go for hefty numbers, but with the sale of such items as as "La Peregrina", her famous pearl, diamond and ruby necklace, and her 33-carat diamond ring, the final tab exceeded previous estimates, in many cases, by the millions. In a recent statement, the collection has already broke many world records including the highest bid for pearl jewelry, the per carat price for a colorless diamond, the price for an Indian jewel, and a ruby per carat.
The Queen of Diamonds reign just wont let up!

The big winner of the night was the “La Peregrina,” the 16th Century pearl on a necklace designed by Cartier for Taylor, sold for $11.8 million, setting the world record for a pearl jewel. The pre-auction estimate was $2 million to $3 million.
The 33.19-carat Asscher-cut D color potentially flawless diamond set on a ring that Taylor wore nearly everyday, sold for $8.8 million, well above its $2.5 million to $3.5 million estimate.
Less than halfway into the auction it was estimated in the press area that the $30 million pre-auction estimate for the evening was topped. It was a marathon night where rapid, high-speed bidding was offset by long pauses as prices reached levels that few could have imagined. 
Impressive. I can't believe someone out bid me on that 33 carat ring! ~vK

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