The Legendary Jewels Evening Sale achieved $115,932,000

Dubai, UAE – The Collection of Elizabeth Taylor: The Legendary Jewels Evening Sale achieved $115,932,000 (£74,196,480/€89,267,640), becoming the most valuable jewelry auction in history and setting the tone for Christie’s highly anticipated four-day series of landmark auctions devoted to the iconic collection of Elizabeth Taylor (13-16 December 2011). A tribute to the discerning eye of this celebrated film star, fashion icon, and humanitarian, the sale was 100% sold by lot and 100% by value, with 24 of the 80 jewels fetching over $1 million and 6 jewels over $5 million. 7 new world auction records were established: price per carat for a colorless diamond and for a ruby; a pair of natural pearl ear pendants; a pearl jewel; an Indian jewel and an emerald jewel.

The top lot of the sale was the legendary 16th century pearl La Peregrina which realized $11,842,500 (£7,579,200/ €9,118,725), setting two world auction records: for an historic pearl (against the previous record of $2.5 million set by La Regente at Christie’s Geneva, 2005) and for a pearl jewel (surpassing the $7 million record paid for The Baroda Pearls at Christie’s New York, 2007).

The Elizabeth Taylor Diamond, of 33.19 carats, D color, potentially internally flawless, realized $8,818,500 (£5,643,840/€6,790,245), setting a record price per carat ($265,697). This far exceeds the $240,000 per carat paid for The Annenberg Diamond of 32.01 carats when it sold at Christie’s New York in 2009.

The Taj Mahal Diamond, circa 1627 – 28, on a gold and ruby chain, by Cartier realized $8,818,500 (£5,643,840/€6,790,245), setting a world auction record for an Indian jewel (against the previous record of $5.2 million set by the imperial Mughal spinel necklace at Christie’s Geneva, May 2011).