If we thought people were nuts about Elizabeth Taylor before, the craziness was dialed up a notch this week when her collection of jewelry was sold at auction for a record-breaking $115 million. Mmmhmm, that's a lot of cheese. The high-profile actress had amassed quite the assortment of baubles over the years, and people (read: very, very rich people) couldn't wait to get their paws all over it. It's reported that over 80 lots of jewelry were sold and that the auction broke all kinds of records like the most fetched for a ruby and the most paid for a colorless diamond.
Experts estimated that the auction would bring in about $30 million, but they clearly underestimated the power that is Elizabeth Taylor.
She's an icon. She's one of the most stylish women to walk the Earth and her life was drama-filled, with romps in the hay with some of the most famous people in the world. We all want a piece of Liz's life, especially the jewelry.
Jewelry is so personal. It takes on a unique patina from each wearer, it holds significant memories, and it symbolizes important milestones. It's forever and timeless, and let's get real, it's a commodity. If crap hit the fan, you can't sell your clothes for much, but a gold bracelet? Oh yes, yes you can.
I guess the auctioneers didn't realize that so many people would want Liz's jewelry because it's the most exclusive and individual thing anyone could get of hers. The 33-carat diamond ring that Richard Burton gave her went for $8.8 million, and the pearl, ruby, and diamond necklace he gave to her sold for a whopping $11.8 million. It was estimated to sell for around two or three million. A diamond bracelet that Michael Jackson gave her went for about $195,000, though it was thought it would be purchased for around $40,000.
Some of the money from the auction will go to the Elizabeth Taylor AIDS Foundation. If only we could've been there with our paddles and our bottomless wallets, right? We could've scored some breathtaking jewelry and contributed to a more than worthy cause.
Are you surprised that the auction brought in over $115 million?