Elizabeth Taylor's jewellery sets new auction world record

Elizabeth Taylor's jewellery fetched a whopping £74million yesterday as it went under the hammer

Elizabeth Taylor's legendary jewellery collection fetched more than £74million as it went under the hammer at Christie’s Auction House in America last night – smashing the previous world record for the most valuable private collection of jewels sold at auction.

The first lot from the collection, a gold and gem charm bracelet went for £208,960 – more than 13 times over its £16,422 estimate. This theme continued throughout the auction with every piece selling for many times their estimated value.

The highlight of the evening, however, was the Elizabeth Taylor Diamond which sold for £5.6million. The Hollywood legend reportedly wore the 33.29 carat Asscher-cut ring every day – a gift given to her by husband Richard Burton in 1968.

SEE THE ELIZABETH TAYLOR COLLECTION

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Marc Porter, chairman and president of Christie’s Americas, said: ‘This truly is one of the greatest jewellery collections in the world,’ declaring that the auction was ‘one of the most extraordinary sales Christie's has ever had.’

The previous world record for an auction of jewellery was for the Duchess of Windsor's collection, which sold in Geneva in 1987 making just over £32million.

In her book, My Love Affair With Jewellery,Taylor wrote: ‘I never, never thought of my jewellery as trophies. I'm here to take care of them and to love them. When I die and they go off to auction I hope whoever buys them gives them a really good home.’

Judging by the determined looks on the bidders' faces to become the coveted owners, we are sure they are going to be well looked after.

A portion of profits generated by admissions, events and select publications related to the sales will be donated to The Elizabeth Taylor AIDS Foundation.

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