Who Bought What at the Elizabeth Taylor Auction and Why

 I’ve never thought of my jewelry as trophies. I’m here to take care of them and to love them – Elizabeth Taylor

After viewing one of the most complete and magnificent private collections of jewelry, art, memorabilia, accessories and other articles ever amassed by a single person during The Collection of Elizabeth Taylor exhibition at Christie’s New York, I wrote the following:

This collection represents a life well spent. Christie’s presentation of the exhibit makes it seem as if her life’s work was complete.

It’s almost a shame that these items will soon be separated.

However, after attending the two days of the fine jewelry sales (part of the four-day Elizabeth Taylor auction at Christie’s New York along with an “online only” component), my mind has changed.

I met friends of Taylor and those who never knew her. I met people who purchased the product because of their ties to Taylor, because of their fascination with a particular piece, or to use what they purchased in their business. It was auction that attracted some of the world’s wealthiest people, celebrities, top professionals in the jewelry and gems industries, and those of modest means.

Bidders prepare for the opening night auction to begin. Photo credit: Anthony DeMarco

The jewelry and other items amassed will be used in all sorts of ways. The important part is that it appears that the jewelry will be used and that’s the way Taylor, it seems, would have wanted it. After all, this is a woman who wore a 33-carat diamond ring almost every day and who was filmed wearing a priceless ruby jewelry collection by the pool. Taylor didn’t put her baubles away for special occasion, she wore them. And her collection showed an appreciation of priceless pieces along with far less expensive items because she either admired the work or they had personal meaning.

Photo credit: Christie's

Jewelry designer to the stars Lorraine Schwartz bought back the fringe diamond bracelet that Taylor bought from her for her 70th birthday.

“I was wearing it for her party at the Bel-Air Hotel, and she kept calling me over to look at it and to try it on,” Schwartz wrote on her facebook page. “Finally, the next morning she called me and said “‘I know who’s buying that bracelet for my birthday … I’m buying it for my birthday!’”

Photo credit: Christie's

Schwartz also bought a pair of earrings that Taylor’s third husband, Michael Todd, created just for her.

“I could feel Elizabeth nudging me telling me to buy them,” Schwartz said on the auction floor during the second day. “That’s what she used to do. She used to say, ‘go ahead buy it.’ She’d be kicking me under the table (saying), ‘Go ahead. You know you want it.’”

Photo credit: Christie's

Schwartz was very busy for the two days. In addition to what she purchased she lost a bid for one of her pieces and purchased a lot of three of her own bangles for Kim Kardashian, who paid $64,900, well above the high $8,000 estimate. “If you have a piece of jade, the energy goes into the piece and you absorb the energy,” Kardashian said by phone. “So I can feel Elizabeth in the piece.”

Photo credit: Christie's

Companies of course got into the act for the larger pieces. The 33.19-carat Elizabeth Taylor Diamond (also known as the Taylor-Burton diamond and formerly called as the Krupp diamond), a gift from Richard Burton, was reportedly bought by South Korean businessman Daniel Pang for $8.8 million. He was bidding on behalf of E-land World, a South Korean concern. The company plans to exhibit the diamond ring at “E World,” an amusement park in Daegu, according to reports.

Photo credit: Christie's

Bulgari, the Italian luxury jewelry house, bought back $20 million worth of jewels, including a 52.72-carat sapphire-and-diamond sautoir for $5.9 million and an emerald-and-diamond necklace for $6.1 million, according to the New York Post.

Photo credit: Anthony DeMarco

Then there’s the paper jewelry. The gag gift from Malcolm Forbes to Taylor has garnered a great deal of media attention—much of it from me. The suite of paper jewelry had a high estimate of $300. It sold on the second day for $6,875. It was purchased by Jenny and John Caro, owners of Jewelry By Design, an independent jewelry store in Woodbridge, Va.

The couple came to the auction with a $50,000 line of credit and in a few minutes it was obvious they were being priced out of buying any real jewelry. So when the paper jewelry came up on the second day, they went all out to win the lot. The couple is using the paper jewelry along with two jewelry pieces they purchased on the online only auction to create an Elizabeth Taylor display for their customers. The jewelry was chosen because they had pictures of Taylor wearing the pieces in books that will be used in the display.

“We’re a good example of a business doing things, being different and taking risks to help our business grow,” Jenny said in a phone interview.

“You couldn’t go by the intrinsic value of jewels, because the truth is everything was selling so high that what you bought you couldn’t turn around,” she added. “The South Korean who bought the Burton diamond bought it for a business reason. What is $8.8 million when it comes to advertising worldwide? What’s $6,800 when it comes to local advertising?”

Using the Forbes gift as inspiration, Christie’s created its own full-color paper jewelry book with recreations of 15 of Taylor’s most iconic jewels. It ran as a limited edition of 5,000 and was available for purchase in person at Christie’s headquarters during the New York exhibition, which was held December 3 -12. It was sold for $25 each, $5 of which went to the Elizabeth Taylor AIDS Foundation.

Los Angeles jewelry designer Sandra Müller had her own unique story. She first met Taylor as a child while living in Europe and credited the actress with inspiring her to build a life in the jewelry field. Taylor was a friend of her parents. As an adult working and living in Los Angeles, she said she would visit Taylor’s house often as a friend and to show her work. In 2001, Taylor bought three of her pieces.

Müller was already planning to go to the auction to bid for a client. While looking through the auction catalog, she discovered that those pieces were being sold as part of the fashion and accessories auction, held on the third day. Her pieces didn’t include her as the creator. She contacted Christie’s and the auction rectified the error.

The high estimate for the jewels was $300. Müller e-mailed me to let me know that her pieces sold for $15,000. With commission the total was actually $18,750.

“The 18k gold value alone would be about 10,000.00 if melted,” she added. “I think it was one of the few good deals in auction.”

I asked her how it felt to sit in the auction room and watch her pieces being sold at the historic event. Her reply was brief.

“Thrilled”

Historic Elizabeth Taylor Auction by the Numbers

Phone bidders compete with those on the auction floor at Christie's New York during the first day of the Elizabeth Taylor auction. Photo credit: Christie's

The landmark auctions of The Collection of Elizabeth Taylor at Christie’s New York from December 3-17 realized a combined total of more than $156.75 million with every single item sold. Among its achievements:

* The most valuable sale of jewelry in auction history—the two-day jewelry sale along (December 13-14) fetched more than $137.2 million;

* The most valuable collection of fashion ever sold at auction--the live sale totaled more than $5.5 million;

* Christie’s first-ever “Online-Only” auction—conducted in parallel to the live auctions—generated more than 57,000 bids and took in more than $9.5 million;

* Six Items sold for more than $5 million;

* 26 items sold for more than $1 million;

The opening night jewelry sale (December 13) alone set seven world auction records; among them:

* The world auction record for a pearl jewel, “La Peregrina,” the 16th Century pearl on a necklace designed by Cartier for Taylor, sold for $11.8 million.

* The world auction record for a colorless diamond per carat, the Elizabeth Taylor Diamond (also known as the Burton-Taylor Diamond). The 33.19-carat Asscher-cut D color potentially flawless diamond sold for more than $8.8 million, or $265,697 per carat.

* The world auction record for an emerald jewel and an emerald per carat went to an emerald and diamond pendant brooch by Bulgari—more than $6.5 million or $280,000 per carat.

* The world auction record for an Indian jewel, the heart-shaped Taj Mahal Diamond, sold for more than $8.8 million.

* The world auction record for a ruby per carat, A Ruby and Diamond Ring, By Van Cleef & Arpels sold for more than $4.2 million or $421,981 per carat.

* The world auction record for a pair of natural pearl pendants, pearl and diamond pendants by Bulgari sold for nearly $2 million.



The sale drew unprecedented interest from bidders throughout the world, who gathered in Christie’s flagship Rockefeller Center saleroom to compete in person, on the phone, online and by absentee bid to win one of the Collection’s 1,778 lots of jewelry, fashion, decorative arts and film memorabilia. The total far exceeded Christie’s pre-sale expectations for the sale as a whole and for individual items, which were frequently hammered down for five, ten, or even 50 times their estimate in some cases.

As one of the most highly-anticipated sales in auction history, the collection generated intense interest from bidders throughout the world, with 36 different countries represented during the four days of live auctions.

Of the sales, Chris Wilding, son of Elizabeth Taylor and member of the Elizabeth Taylor Trust said, “My mother always acknowledged that she was merely the temporary custodian of the incredible things she owned. Today, I think she would be happy to know that her collections will continue to enrich the lives of those who have acquired pieces. My family is proud that our mother’s legacy as a celebrated actress, tireless AIDS activist, and accomplished businesswoman touched so many people’s lives that they wanted to have a part of it for themselves.”

All sales proceeds will be directed to the Elizabeth Taylor Trust. A portion of the profits generated by sales of exhibition tickets, event sponsorships and the ongoing sales of select publications will be donated to The Elizabeth Taylor AIDS Foundation. An estimated 58,000 visitors viewed highlights from the collection since September, when Christie’s launched an eight-city global exhibition and tour that reached Moscow, London, Los Angeles, Dubai, Paris, Geneva and Hong Kong. The grand finale of the tour was a 10-day museum-quality public display of the complete collection that drew thousands of collectors and fans to the company’s flagship galleries in Rockefeller Center.

“The exhibition and sales of The Collection of Elizabeth Taylor in New York have been the crowning achievement to a very strong year at Christie’s,” said Steven P. Murphy, CEO, Christie’s International. “The success of these sales, with bidders participating from all over the world, demonstrated not only a recognition of the taste and style of Miss Taylor, but also the convening power of Christie’s. I am very proud of our whole team, from all corners of our global operation. Their achievement was successfully bringing this event to fruition in a manner that paid homage to the panache and glamour of Elizabeth Taylor herself.”

Kim Kardashian Buys Jade Bracelets at Elizabeth Taylor Auction

The Jade bracelets by Lorraine Schwartz.

NEW YORK - Kim Kardashian purchased three jade bracelets created by Los Angeles jewelry designer Lorraine Schwartz during the second day of the Elizabeth Taylor auction at Chrstie’s New York. Schwartz, a friend of both the reality TV star and the famous actress and humanitarian, was at the auction and purchased the jewelry for Kardashian. They were sold in one lot for $64,900, well above the high $8,000 estimate.

Schwartz said Taylor wore the white, black and lavender bangles nearly every day, particularly in the latter part of her life.

She also said that Kardashian was going to buy those same bangles directly from her but really wanted the pair that Taylor actually wore.

“She loved those bangles for a long time,” Schwartz said. “She bought them because they’re Elizabeth’s.”

Schwartz is known for creating jewelry for some of Hollywood’s biggest stars, including Taylor and Kardashian.

Kardashian, who was the last person to interview Taylor, said by phone that she admired the movie star and jewelry lover. She also spoke about the power of Jade.

“If you have a piece of jade, the energy goes into the piece and you absorb the energy,” Kardashian said. “So I can feel Elizabeth in the piece.”

She added, “Elizabeth Taylor is iconic. She is my idol and my icon.”

Elizabeth Taylor Two-Day Jewelry Sale Fetches a Record Breaking $137.2 Million

Francois Curiel Leads the auction Wednesday.

NEW YORK - Nothing could have topped Tuesday night’s $115.9 million jewelry auction of Elizabeth Taylor’s Legendary Jewelry and no one expected that to happen. However, the second and final day of the jewelry sale, held Wednesday at Christie’s New York fetched another exceptional result: $21.3 million.

The two days of marathon auctions achieved the combined total of more than $137.2 million, making it “not only the most valuable private collection of jewelry ever offered at auction, but also the most valuable sale of jewelry in auction history,” the auction house said Wednesday. 

Again, 100 percent of the lots were sold during the eight-hour sale and no more than one item sold for its auction estimate. Sales 10 times the high estimate was the norm. Two items sold for more than $1 million. They are:

An antique garland-designed necklace with suspended natural and rose cut diamonds sold for nearly $1.5 million and was the top lot of the daylong session. The high estimate was $150,000.

The other was the most anticipated piece, the Burton wedding bands. Two eternity bands, the first designed as a baguette-cut diamond eternity band, mounted in gold; the second designed as a circular-cut and single-cut diamond octagonal-shaped eternity band, mounted in white gold. The pair sold for just over $1 million after 15 minutes of intense bidding. The high estimate was $8,000.

“It took eight hours and three auctioneers to sell 190 more jewels from Elizabeth Taylor’s storied collection,” said François Curiel, international director of jewelry at Christie’s. “The atmosphere was electric from the very first to the last lot, with collectors from Asia, the Middle East, Europe and America chasing each individual jewel with a tenacity never seen before.”

Wednesday’s event at Christie’s Rockefeller Center headquarters was more casual than the intense black tie affair Tuesday night, but it had plenty of moments of intense bidding, dramatic pauses and even moments of humor. Like the previous auction estimates were treated as something one needn’t be bothered with.

Online bidders were strongly involved in many items and there were many other bidders on the phone from around the world. Curiel said the spectacular results of the prior night’s sale led to more international interest. Circular cut amethyst with turquoise ear clips led to a battle among three online bidders before selling for $52,500. New Zealand’s name came up during several bids.

Jewelry from the House of Taylor did very well with three lots selling for more than $200,000. Taylor licensed her to the company, which produced fine jewelry at several price points. Rge short-lived company had a spectacular rise and sudden fall in 2008 during the beginnings of the economic recession.

Pieces from many of the luxury jewelry brands associated with Taylor for years (Van Cleef & Arpels, Cartier, Bulgari and others) had another exceptional day.

Bidders whom I spoke with were awestruck by the selling prices over the two days. But they were smiling, knowing that they were part of a once in a lifetime event. Los Angeles-based jewelry designer, Lorraine Schwartz, a friend of Taylor who designed some of her jewelry, tried to buy back one of the pieces. She lost.

“I was thinking like the dealer that I am,” she said. “I just couldn’t bring myself to go higher.”

One of the more unusual lots was a suite of paper jewelry that Forbes founder, Malcolm Forbes, gave to Taylor as a gag gift. It sold for $6,875. Its estimate was $200 to $300. How do you explain this?

The longest and most intense bidding was for the Burton wedding rings, the last lot of the two-day sale. There was several moments of extended silence as Rahul Kadakia, head of Christie’s jewelry department in the Americas, extended the bidding as the price moved up in tiny increments.

When the gavel finally sounded, the audience let out a breath and applauded.

Elizabeth Taylor Auction Fetches Nearly $116 Million

Christie's employees receiving bids by phones.

NEW YORK - By any measure the first night of the Collection of Elizabeth Taylor auction on Tuesday at Christie’s New York was, as the auction houses often say, exceptional. The auction of some of Elizabeth Taylor’s most precious jewels took in nearly $116 million, a world record for a private collection of jewels.

All 80 lots offered were sold and estimates were shattered then crushed throughout the auction. To the best of my knowledge only two items sold within auction estimates. The rest of the lots made the estimates look like afterthoughts as a jammed room full of bidders competed for items with telephone buyers from around the world.

The auction broke six other world records, including the price achieved for a pearl jewel, the per carat price for a colorless diamond, the price for an Indian jewel, and a ruby per carat.

View the jewels of the auction by following this link.

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. Applause and nervous laughter came from the bidders as the price of the diamond hit the $10 million mark. It was the only 12th lot sold on a day that already started incredibly strong.

La Peregrina upstaged what was expected to be the top lot for the evening, The Elizabeth Taylor Diamond. 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. The auction was led by two of Christie’s jewelry experts, beginning with Francois Curiel, Christie's Asia president and longtime head of Christie’s jewelry department who came in from his post in Hong Kong; followed by Rahul Kadakia, head of Christie’s jewelry department in the Americas.

At one point Curiel said, “I don’t know where to start. Should I ask you? Maybe I’ll start at $10 million.”

The Taj Mahal Diamond, a gift from Richard Burton to Elizabeth Taylor for her 40th birthday sold for $8.8 million. The heart-shaped diamond is believed to have been owned by emperor Shah Jahan (1592-1666). He presented the diamond to his favorite and most beloved wife, Mumtaz-i-Mahal. The emperor’s grief at her death just four years later inspired him to commission the majestic Taj Mahal in her memory. The estimate was $300,000 - $500,000.



A Bulgari 18.26-carat emerald and diamond pendant brooch sold for $6.5 million, spectacularly above the $500,000 to $700,000 estimate.

It was a big night for Bulgari. An emerald and diamond necklace sold for $6.1 million, well above its $1 million to $1.5 million estimate. This was followed by a sapphire and diamond sautoir that sold for $5.9 million, smashing the high estimate of $800,000.

Van Cleef & Arpels also had a big night. A ruby and diamond ring, a gift from Burton, sold for $4.2 million, a world record for a ruby per carat.

The Mike Todd Diamond Tiara, which made some of the women weak in the knees, sold for $4.2 million, totally smashing its estimate $60,000 to $80,000 estimate.

A Bulgaria emerald and diamond bracelet sold for just over $4 million.

Cartier also had a great night. A ruby and diamond necklace from the Parisian luxury jewelry house sold for $3.7 million, smashing its $200,000 to $300,000 estimate.

At the brief press conference that followed, Curiel was asked to explain why the prices for the jewelry were so far above the actual prices. He explained that the items were priced according to their “intrinsic value” and not based on Taylor’s celebrity appeal.

“We wanted to let the market decide what premium to pay over the value of the stones or the value of the stones or the value of the jewels,” he said.

The market decided.

Elizabeth Taylor Auction Expected to Fetch $30 Million

The Elizabeth Taylor Diamond, a 33.19-carat, Asscher-cut gem that's expected to fetch $2.5 million-$3.5 million.

The first day of the most anticipated jewelry auction in (well, who knows how long?) will begin at 8 p.m. The Collection of Elizabeth Taylor sale at Christie’s Rockefeller Center headquarters in New York is expected to fetch $30 million for 61 lots.

“This is without a doubt the greatest private collection of jewelry ever assembled in one place,” said Marc Porter, chairman and president of Christie's Americas.

This is only the beginning. Another auction of the actress’ jewelry will be held Wednesday, followed by two more days that will see Taylor’s jewelry, couture clothing, accessories, memorabilia and decorative arts sold to the highest bidders.

Among the items in the sale tonight is the Elizabeth Taylor Diamond, a 33.19-carat, Asscher-cut diamond on a ring that was a gift from her husband Richard Burton. This was the ring that Taylor wore nearly every day. Burton purchased the stone at auction in 1968 for a reported $305,000. It's expected to fetch $2.5 million-$3.5 million.

There’s also the La Peregrina, the pear-shaped pearl, ruby and diamond necklace centered with a 203-grain pear-shaped pearl discovered in the 16th Century as its centerpiece. Taylor and Al Durante of Cartier designed the piece. It’s expected to sell for $2 million to $3 million.

Another highlight is The Taj Majal Diamond, a gift from Richard Burton, for Elizabeth Taylor’s 40th birthday in 1972. Inscribed with the name Nur Jahan, the wife of the Mughal Emperor Shah Jahangir, this heart-shaped diamond is believed to have been a gift from the ruler to his son, who became the great emperor Shah Jahan (1592-1666). It is believed that the young prince presented the diamond to his favorite and most beloved wife, Mumtaz-i-Mahal. The emperor’s grief at her death just four years later inspired him to commission the majestic Taj Mahal in her memory. Estimate: $300,000 – $500,000

I will be attending tonight’s auction and will be either tweeting or blogging live from it, so stay tuned.

Read more about the auction on Jewelry News Network by following this link.

Colorless Diamonds and Celebrated Collections Lead Sotheby’s Jewelry Sales

A platinum-topped gold and diamond necklace presented to Helen Hay on the occasion of her marriage to Payne Whitney in 1902 was the top lot at Sotheby’s Magnificent Jewels sale. 

The necklace (pictured above) features four diamonds ranging from F to H color, and weighing 27.48, 15.53, 13.08 and 8.91 carats respectively, the necklace sold for nearly $3.2 million. The marriage of Hay and Whitney was a society event that made headlines across the United States. All seven jewels from the estate of Helen Hay Whitney were sold for $4.8 million. 

In addition to the Helen Hay Whitney estate, collection from Estée Lauder, Evelyn H. Lauder and Grand Duchess Vladimir of Russia were among the most sought after jewels from bidders, which included a world record price for a Cartier “Tutti Frutti” bracelet

Jewels from the collections of Estée Lauder and Mrs. Evelyn H. Lauder together achieved $3.9 million, with more than 80 percent of the pieces on offer fetching prices above their high estimates.

Thirty-two jewels from the collection of Evelyn H. Lauder—sold to benefit The Breast Cancer Research Foundation—were led by a “Tutti Frutti” bracelet by Cartier, circa 1928 (pictured above), that sold for more than $2.1 million (more than double its high estimate), marking a new world auction record for any Tutti Frutti bracelet by Cartier.

Ten pieces from the Estée Lauder collection sold to benefit the Alzheimer’s Drug Discovery Foundation were led by a pair of fancy brown-yellow diamond and diamond earclips by Van Cleef & Arpels that fetched $233,000.

A pair of platinum, emerald and diamond pendant-earclips (pictured above) that originally belonged to the legendary collection of Grand Duchess Vladimir of Russia sold for more than $1 million. After being smuggled out of Russia by an English friend of the Duchess following the abdication of the Tsar in 1917, the emeralds descended to the Duchess’s daughter and granddaughter, and were acquired at auction at Sotheby’s Geneva in 1987 for Princess Gloria von Thurn und Taxis, the auction house said. 

From the collection of Marlene Dietrich—the legendary actress, singer and cabaret star—a 14k tri-color gold and lapis lazuli bracelet, Cartier circa 1940, sold for $179,000, nearly six times above its high estimate. The bracelet was a gift from longtime friend Erich Maria Remarque, author of “All Quiet on the Western Front.”

Two platinum and diamond rings were among the top four lots of the auction, showing that despite the trend toward colored diamonds, statement colorless diamonds can still bring in world-class prices. 

The first featured a 25.44-carat emerald-cut diamond of D color, VVS1 clarity and potentially Internally Flawless. It sold for $2.96 million, or $116,548 per carat (pictured above).

The second featured a 47.48- carat, round brilliant-cut diamond of K color, VVS1 clarity that sold for $1.8 million. 

Other highlights of the auction were:

* A platinum and diamond ring centered by a 3.02 emerald-cut fancy grayish blue diamond with VVS2 clarity, circa 1930, sold for $1.4 million, or $478,476 per carat, well above its high estimate.

* A platinum, fancy intense purplish pink diamond and diamond ring, 3.07 carats, SI2 clarity, sold for $1.2 million ($392,508 per carat).

* Platinum and diamond earclips by Harry Winston, 10.20 carats, G color, VVS2 clarity and 9.53 carats, G color,VS1 clarity, sold for $1.08 million ($54,992 per carat).

* Egyptian-revival platinum, diamond and colored stone bracelet, LaCloche Frères, Paris, sold for $1.5 million. 

The December 9 auction achieved more than $44.1 million in sales, with 75.8 percent sold by lot and 81.1 percent sold by value. It raised Sotheby’s worldwide jewelry sales in 2014 to $597.5 million, already surpassing the record $529.3 million the company achieved in 2013 in this category. This is without including Sotheby’s London jewelry sale held Thursday. The auction house estimates that sales for 2014 will exceed $600 million.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website.

Laurence Graff Buys 50-Ct. Diamond for Third Time, Pays $8.3 Million

50-ct. Graff diamond. Photo credit: CHRISTIE'S IMAGES LTD.

A 50-carat, rectangular-cut, D-color, potentially flawless diamond ring by Graff sold for $8.37 million at Christie’s New York Magnificent Jewels auction Tuesday. The buyer? Laurence Graff.

“This is the third time that I have owned this beautiful diamond and I am as thrilled today as I was the first time. Diamonds of this exceptional caliber have a life and legacy that carries on beyond us all,” Graff said in a statement after the sale. “This is one of the finest D-color diamonds in the world and I am delighted to have it back again.”

The diamond’s estimated sale price was $7-10 million. It sold for $167,400 per carat.

3.15-ct. reddish-orange diamond. Photo credit: CHRISTIE'S IMAGES LTD.

The final lot of the auction was a rare fancy reddish-orange diamond of 3.15 carats. The stone is the largest reddish orange diamond ever graded at the Gemological Institute of America. Exhibiting two of the rarest hues in the world of diamonds, the price soared beyond its low estimate of $700,000 to sell for nearly $2.1 million, setting a new world auction record for a reddish-orange diamond and a new per-carat record price of $666,200.

 Earlier in the sale, Christie’s realized a new per-carat record for a Kashmir sapphire at auction, with the sale of an 8.91 carat sapphire for $1.37 million, or $154,000 per carat (pictured left).

The day-long sale realized a total of $32.5 million, with sell-through rates of 84 percent by lot and 86 percent by value. This sale result, combined with results from Christie’s New York jewels auctions in April, June and October, brings the 2012 New York jewelry auction total to more than $163 million, the auction house estimated. The full 2012 total for the jewelry category will be announced in January 2013 as part of Christie’s annual corporate figures release.

10.5-ct. ring set with a rectangular-cut diamond flanked on either side by three baguette-cut diamonds mounted in platinum. Gemological Institute of America report states that the diamond is D color, VVS1 clarity. Estimate $800,000 - $1.2 million. Price realized, $938,500. Photo credit: CHRISTIE'S IMAGES LTD.

For the year in New York, Christie’s said it sold 29 jewels over the $1 million mark, of which four jewels sold for more than $7 million. In April, Christie’s sold a collection of 17 Art Deco period jewels from the estate of the reclusive American copper heiress Huguette M. Clark. The sale realized $20.8 million and saw a new U.S. auction record achieved for The Clark Pink, the most expensive pink diamond ever sold at auction in the United States.

Art Deco sapphire and diamond Bracelet by Paul Flato. Designed as an openwork rectangular-cut sapphire and diamond bricklink band, mounted in platinum, circa 1935. Estimate $120,000 - $180,000. Price realized, $338,500. Photo credit: CHRISTIE'S IMAGES LTD.

Diamond and onyx cuff bracelet by Verdura. The wide onyx cuff set at the top with an old mine and rose-cut diamond plaque, mounted in silver and gold. Estimate $35,000 - $55,000. Price realized, $47,500. Photo credit: CHRISTIE'S IMAGES LTD.

 Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

Elizabeth Taylor Auction Includes Pieces by Sandra Müller

The upcoming Collection of Elizabeth Taylor auction at Christie’s New York will include three pieces from a Los Angeles jewelry designer who had a personal relationship with jewelry-loving star.

“I would often go to visit Elizabeth Taylor at her house and she would say that her heart would jump a certain way when she saw a jewel that was just right for her. And these did it,” said Sandra Müller, who has a store in Beverly Hills.

The items that caught Taylor’s fancy was an 18k gold necklace and bracelet set covered with smoky quartz, citrines, corals, fresh water pearls, tiger's eye, crystal de roche and chrysophrase; And a stand-alone 18k gold bracelet with lavender overtones that uses amethyst, citrines, aquamarines, rubelite, fresh water pearls and ametrines (All pictured above). Taylor bought the pieces in 2001.

“The style is very Capri chic 1970’s,” Müller said. “My inspiration was to create something fun, colorful, charming, and full of life, using fine semi-precious gem beads and combining colors that would have suited an Emilio Pucci or Thea Porter colorful gown—very much Elizabeth’s style.”

The pieces will be placed on the block December 15 as part of the Fashions and Accessories (IV) portion of the auction. The estimate is $200 - $300. The entire Elizabeth Taylor auction will be held over a four-day period, December 13-16.

Müller said she first met Taylor at the Palace Hotel in Gstaad when she was nine years old. Taylor was having lunch with the wife and daughter of Yul Brynner and she joined them. In fact, it was at this meeting that Müller decided that she wanted to be a jewelry designer.

“I was mesmerized by her (Taylor’s) headdress, with an emerald dangling on her forehead,” Müller said. “She had an incredibly eclectic taste for jewelry. This encounter awakened in me an aspiration to become a jeweler. Little did I know that one day she would be wearing my creations.”

Müller grew up in Paris and Geneva. At eighteen, she moved to California to study gemology and jewelry manufacturing at the Gemological Institute of America. Since then, she has been creating one-of-a kind jewels and limited editions for a clientele that includes many celebrities.

Christie’s Elizabeth Taylor Exhibit is a Big Draw

People line up outside the entrance of Christie's to view the Elizabeth Taylor collection.

The Collection of Elizabeth Taylor opened Saturday to large crowds and long lines outside of Christie’s N.Y. Rockefeller Center headquarters.

“It was a great opening day for us, with a packed house and lots of happy Elizabeth Taylor fans,” Erin McAndrew, head of Communications, Christie’s Americas, said Sunday. “We sold over 15,000 tickets thus far.”

The exhibition continues through December 12, which will be followed by the sale of one of the greatest collections ever amassed by a single person. Tickets are timed, are still available and can be purchased on Christie’s website online for the day and time slot of your choice.



I first went past Christie’s at around 11 a.m. Saturday, an hour before the doors open to the public, and was surprised to see very few people. I returned at 3 p.m., and the line stretched for more than a block and was mixing in with the throngs of holiday tourists at nearby Rockefeller Plaza. 

Follow this link for more coverage of the Elizabeth Taylor exhibition and auction at Christie's.

Also opening Saturday was the online only auction of 950 items from the Taylor collection, including fine jewelry, costume, jewelry, fashion and accessories and decorative arts. Online bidding will run concurrently with the live auction. Lots begin closing on December 15 and all lots will close December 17.

“At 10 a.m. (Sunday) 12,000 bids have been submitted thus far,” McAndrew said. “There are many more items still available at the $250-500 level, including Louis Vuitton bags, Versace coats, Valentino dresses, and my favorite, a 14k gold flashlight by Van Cleef & Arpels.”

A Peek Inside Christie's Elizabeth Taylor Exhibition

Christie's recreates Elizabeth Taylor's jewelry room for the exhibition.

At noon Saturday, the general public will have its first opportunity to view the entire collection of Elizabeth Taylor that will go on auction at Christie’s New York headquarters beginning December 13.

Three outfits worn by Taylor during her Cleopatra days.

Parts of the collection of jewelry, couture, memorabilia, household items and art have been on a world tour. New York is the last stop on the tour prior to the four-day sale. In addition to the live auction, 950 pieces from the collection of more than 2,000 items will be made available in a separate online auction that begins today and will conclude on the same dates as the live auction. All lots will be offered without reserve.

Mike Todd diamond tiara

“All of the items on the online auction have an opening bid of $50,” said Erin McAndrew, head of Communications, Christie’s Americas, who led me through the exhibition Friday. "This allows everyone to participate.”

La Pérégrina -- The Legendary Pearl.

The exhibition ends December 12. This will be the last opportunity to see one of the greatest private collections of jewelry, memorabilia and fashion ever amassed. Tickets are still available and can only be purchased online on Christie’s website.

Cartier ruby and diamond suite and Van Cleef & Arpels ruby and diamond ring. The Cartier pieces were given to Taylor by Mike Todd and the 8.24-carat ruby and diamond ring was a gift from Richard Burton.

For those who have purchased their tickets to the exhibition at Christies Rockefeller Plaza headquarters here’s what to expect.

Wedding dress for first marriage to Richard Burton.

First of all, it’s the first time that Christie’s entire sale and exhibition space will be dedicated to an auction from a private collection. It’s a museum-quality exhibition.

Night of the Iguana brooch by Jean Schlumberger, Tiffany & Co.

The first portion of the space is a hallway dedicated to Taylor’s relationship with Andy Warhol. It includes a lithograph portrait of Taylor and a sketch of lips by the artist. Both were gifts for Taylor. Between them is a thank you note from Taylor to Warhol.

A collection of colorful jewelry pieces organized by Christie's.

On the other side of the passageway there’s a recreation of Taylor’s jewelry closet in her dressing room. Yes, she had a separate room for her jewelry. The original boxes for each piece of jewelry are situated on individual shelves. “Notice all the red boxes,” McAndrew said. “She loved Cartier.” In addition, several boxes were marked with the names of those who gave her the pieces.

A collection of Taylor's watches in a single display case.

Right before entering the main exhibition rooms there are three dresses that were worn by Taylor, two flank each end of the display and one is lifted from the ground with the mannequin’s arms extended. It’s quite a dramatic scene and leads to the first room which is filled with several of Taylor’s signature jewelry pieces.

The Taj Mahal Diamond, Circa 1627 -- 28 with gold and ruby chain by Cartier.

It includes La Peregrina, the pearl, ruby and diamond necklace centered with a 203-grain pear-shaped pearl discovered in the 16th Century as its centerpiece. Taylor and Al Durante of Cartier designed the piece. A collection of diamond and ruby jewelry, including necklace, earrings and bracelet set that was a gift from director Mike Todd, Taylor’s third husband. In the same case is an 8.24-carat ruby and diamond ring that was a Christmas gift from Richard Burton, Taylor’s fifth husband who she married twice. And there are signature sapphires and emerald pieces, many gifts from her husbands that were worn on special occasions, such as the diamond tiara, which she wore to the 1957 Academy Awards, where Todd’s film, Around the World in 80 Days, won for Best Picture.

A room in the exhibition is dedicated to Taylor's acting career, personal life and her humanitarian causes.

From there it became a blur of sparkle as jewelry dominates much of the exhibition. Bulgari, Boucheron, Cartier, JAR, Schlumberger, Tiffany and Van Cleef & Arpels and many more internationally renowned jewelry brands are well represented. It was clear from her collection that Taylor loved colored gems as much as she loved colorless diamonds.

Bob Dylan publicity poster with poem to Taylor.

There’s the 33-carat diamond Asscher Cut diamond ring that was a gift from Richard Burton. It was the ring she wore nearly everyday. The Vacheron Constantin watch and monkey necklace that were gifts from Michael Jackson are included in the exhibit. Then there’s the magnificent Taj Mahal diamond, which comes with a love story nearly four centuries old.

Taylor's handbags are exhibited in a replica of her accessories closet.

Of course, there’s more than jewelry. There’s memorabilia, such as bound copies of movie scripts, a collection of director’s chairs she used during her films and a book she wrote as a child, titled Nibbles and Me. One of the more unusual items is a publicity poster of Bob Dylan, inscribed what could only be described as a love poem to Taylor.

Couture outfits spanning more than 50 years from some of the world's most renowned fashion designers in a dedicated space.

There are her poster collections, furnishings, decorative accessories and a recreation of her accessories closet (yes, she had one of those, too) with shelves filled with designer handbags.

Then there are the outfits—from every major designer spanning more than 50 years of fashion. They are scattered at different areas of the two-story exhibition space but the bulk of her major couture items are located in a dedicated room on the second floor, exhibited in chronological order.

Taylor also had an impressive collection of important old master’s, impressionist and modern art paintings that includes works by Van Gogh, Piassaro and Rembrandt. These paintings while available to view at the exhibition will be sold at a separate auction at Christie’s London in February.

Near the end of the exhibition there’s a room dedicated to Taylor’s life as an actress, an icon and as a humanitarian. It should be noted that a portion of all proceeds from the auction, catalog and related sales will go toward the Elizabeth Taylor AIDS Foundation.

By any measure Elizabeth Taylor lived an extraordinary life and the exhibit is a statement on how she lived. The gifts she received and items she bought for herself were basic and extravagant. She was all American and a contemporary in the way she purchased. She loved things that were big and bold and she never seemed to have enough. However, she also had European and international taste in fashion and design. Her collection shows that when it came to style she was extremely knowledgeable, passionate and compulsive. This collection represents a life well spent. Christie’s presentation of the exhibit makes it seem as if her life’s work was complete.

It’s almost a shame that these items will soon be separated. 

16 Hearts and Arrows Diamonds Fetch $2.6 Million at Bonhams

Diamonds, jade and a collection of Marina B jewelry were among the top achievers for Bonhams Fine Jewellery and Jadeite auction in Hong Kong. 

The top lot of the November 26 sale was a collection of flawless hearts and arrows diamonds that sold for more than $2.6 million. The collection of 16 brilliant-cut diamonds classified as D color, flawless, internally flawless attracted “spirited” bidding, according to the auction house. 

Each gem is accompanied by its own report from the Gemological Institute of America. The individual weight of the 16 gems ranged from 1.16 to 4.49 carats for a total carat weight of 39.98. Each gem is accompanied by its own report from the Gemological Institute of America. 

Hearts and Arrows are described as a clearly defined set of eight hearts and eight arrows in a round diamond. “It is a sign of excellent optical symmetry, an important component of cut. As such, its appearance is a very likely a sign of superior cut, but not a guarantee.” 

Other highlights include the following:

* An emerald and diamond cluster ring featuring a cushion-shaped, 10.09-carat emerald surrounded by brilliant cut diamonds that sold for $933,588.

* A highly translucent jadeite bangle of a bright apple green color, suffused with intense green streaks that sold for $670,532. 

* A fine two-strand jadeite bead necklace comprising of 49 and 53 graduated bright emerald green jadeite beads of very good translucency with a cabochon jadeite clasp that sold for $670,532. 

* A collection of jewelry designed by Marina B fetched more than $1.2 million. The top lot was a sapphire and diamond “Amelia” necklace and earring suite by Marina B that sold for $624,111. The articulated necklace is set with 12 cushion shaped sapphires, the largest weighing 15.95 carats, within pear and brilliant-cut diamond surrounds, spaced by marquise and pear-shaped diamonds. It is accompanied by a pair of earrings. Total diamond carat weight is 92.30 and total carat weight of sapphires is 104.81, signed by Marina B. 

Graeme Thompson, director of Jewellery at Bonhams Asia said the sale “is testament to the strength of the Asian market for rare items such the flawless collection of Hearts and Arrows diamonds and the Marina B jewels.”

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes website.