Elizabeth Taylor jewelry auction sets world record
My thanks to a reader for this report,
published by National Jeweler. Here is the opening:
New York--Christie's first auction for "The Collection of Elizabeth Taylor," an evening sale of the late actress' legendary jewels held Tuesday, achieved a total of $115.9 million, making it the most valuable private collection of jewels ever sold at auction.
The auction sold 100 percent by lot and by value, with 24 of the 80 jewels realizing more than $1 million, and six jewels realizing more than $5 million.
Seven new world auction records were established at the sale, including price per carat for a colorless diamond as well as records 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 16th century pearl the "La Peregrina," which was purchased by an anonymous buyer for $11.8 million after a pre-sale high estimate of $3 million. The lot set two world auction records: for a historic pearl, against the previous record of $2.5 million, and for a pearl jewel, surpassing the $7 million record.
David Fuller's view Quality jewels are another form of 'hard money' and the romantic provenance, both historic and contemporary, gave this collection an additional cachet.
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