Elizabeth Taylor's Jewels Sold for $115 Million
Elizabeth Taylor's jewelry collection sold for a record-setting $115 million at auction last night, more than troubling the previous record. How did auction house Christie's pull it off in these tough economic times? To be sure, Taylor had some nice jewelry, but count on an auctioneer to make it sing when it comes time to print up the catalogues. It helped generate sales that were five times greater than expected. Both the choice numbers and the more commonplace items got the same treatment.
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What It Is: A pearl necklace from the 17th century
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The Christie's Description: La Peregrina A Natural Pearl, Diamond, Ruby and Cultured Pearl Necklace By Cartier
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The Estimate: $2,000,000 - $3,000,000
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The Actual: $11,842,500
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What it Is: A gold chain with diamonds and rubies
The Christie's Description: "THE TAJ MAHAL AN INDIAN DIAMOND AND JADE PENDANT NECKLACE RUBY AND GOLD CHAIN, BY CARTIER"
The Estimate: $300,000 - $500,000
The Actual: $8,818,500
What it Is: A diamond ring.
The Christie's Description: THE ELIZABETH TAYLOR DIAMOND A DIAMOND RING
The Estimate: $2,500,000 - $3,500,000
The Actual: $8,818,500
What it Is: A coral bracelet
The Christie's Description: A CORAL, AMETHYST AND DIAMOND "LAMARTINE" BRACELET, BY VAN CLEEF & ARPELS
The Estimate: $40,000 - $60,000
The Actual: $782,500
