Elizabeth Taylor's Jewelry Fetches Record-Breaking Amount at Auction

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Diamond ring given to the late star by Richard Burton among personal items which fetched $115 million.

LONDON - Elizabeth Taylor's jewelry collection fetched a record-setting $115 million including more than $11.8 million for a pearl necklace and more than $8.8 million for a diamond ring given to her by Richard Burton at an auction of gems and other memorabilia amassed by the late actor, according to the Guardian.

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The 33.19-carat diamond ring given to Taylor by the actor she married twice, sold for $8.8 million.

The pearl, diamond and ruby necklace, known as La Peregrina, purchased at auction for $37,000 in 1969 by Burton for Taylor reached the world record price of $11,842,500. It was estimated to sell for $2 million to $3 million. The price surpassed the previous auction record for a pearl, set in 2007 at Christie's auction house in New York City with the sale of The Baroda Pearls for $7 million.

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The ring, estimated to sell for $2.5 million to $3.5 million, was included in a collection of Taylor's necklaces, earrings, pendants and rings and other gems that went on sale on Tuesday night at Christie's in New York. The ring was purchased by a private buyer from Asia, according to a Christie's spokesman.

Among the other high-profile items was a diamond bracelet given to the National Velvet and Cleopatra actor by singer Michael Jackson, with an estimated sale price of $30,000 to $50,000. It sold for $194,500. All prices include the buyer's premium.

Other sales of Taylor's art, clothing and memorabilia will be held later in the week. An online-only sale of some items runs until Saturday. Part of the proceeds will go to The Elizabeth Taylor Aids Foundation, which she established in 1991.

Taylor's collection of impressionist and modern art is scheduled to go on sale at Christie's in London in February, said the Guardian.

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