Taylor's jewels set new auction record

Diamond, ruby and sapphire-strewn showpieces that Taylor claimed she wore to ‘do wholesome things like swim laps’ sold for ten to twenty times their highest pre-sale estimates, spurred on by the late actress’s mystique.

La Peregrina, a diamond, ruby and 16th-century pearl necklace by Cartier which auctioneers at Christie’s expected to sell for $3m, achieved a final hammer price of $11m.

The Elizabeth Taylor Diamond, a 33.29 carat diamond ring that Taylor wore nearly every day after Richard Burton gave it to her in 1968, was one of the star pieces of the evening. Again, the piece burst through all pre-sale estimates: rather than selling for $2.5m-$3.5m, auctioneers said ‘sold!’ to a private buyer in Asia at a final price of $8,818,500.

‘This is without a doubt the greatest private collection of jewellery ever assembled in one place,' Marc Porter, chairman and president of Christie's Americas, told the crowd of eight-figure bidders, according to the Telegraph.

The high spirits and high spending meant the sale closed having fetched more than triple its expected bottom line. A portion of the $115,932,000 (or £74,196,480) takings will be donated to The Elizabeth Taylor AIDS Foundation.

Taylor passed away in March at age 79.

Read about the London auction of two of Elizabeth Taylor's gowns

See Taylor's wedding looks in 'Liz in Love'