Queen Elizabeth to celebrate Diamond Jubilee with Diamond Exhibition

The miniature crown worn by Queen Victoria for her official diamond jubilee portrait in 1897.

For those of you still brimming with joy from the pomp and majesty of the royal wedding there will be another royal celebration next year.

In February 2012, Queen Elizabeth II will become only the second sovereign in British history to have reigned for 60 years. To mark the occasion, Buckingham Palace will host an exhibit of the many ways in which diamonds have been used and worn by British monarchs over the past two centuries. The exhibition includes an unprecedented display of a number of the queen’s personal jewels—either inherited or acquired during her reign.

The exhibition titled, “Diamonds: A Jubilee Celebration,” presented by The Royal Collection, will coincide with the 2012 summer opening of Buckingham Palace. It will be held in August and September of 2012. Final dates have yet to be confirmed. It is one of several exhibitions celebrating the queen’s diamond jubilee.

Queen Victoria is the only other British monarch to celebrate a diamond jubilee. The exhibition will include the coronation necklace and earrings created for Victoria and subsequently worn by Queen Alexandra, Queen Mary, Queen Elizabeth, The Queen Mother, and the current queen at their coronations. The necklace is formed of 25 graduated cushion-shaped brilliant-cut diamonds and a central drop-shaped pendant of 22.48 cts.

Other items to be displayed include:

Queen Victoria’s fringe brooch, which was designed to be worn along the top of the fashionably low-cut bodices of the period. It consists of a large emerald-cut brilliant diamonds surrounded by twelve large brilliants, from which are suspended nine diamond chains. It was made in October 1856 by R & S Garrard, who remodeled an existing piece of jewelry and added the stones that had been presented to the Queen by the Sultan of Turkey, Abdul Mejid I, in May that year. It was left to King Edward VII and often worn by his consort, Queen Alexandra. The Queen Mother wore the brooch for the coronation in 1953.

The miniature crown worn by Queen Victoria for her official diamond jubilee portrait in 1897 (top picture), by R & S Garrard in 1870. It was designed to be worn over a veil, which the queen adopted following the death of Prince Albert. The crown’s 1,187 diamonds give it a grandeur that belies its tiny proportions (3.54 inches by 3.94 inches). Probably because of its physical lightness, Queen Victoria favored this crown over any other throughout the last 30 years of her life.

The “Girls of Great Britain Tiara,” a wedding present to Princess Victoria Mary of Teck (later Queen Mary) on behalf of the “Girls of Great Britain and Ireland.” The tiara was presented to the queen as a wedding present and is still frequently worn her.

The exhibition also includes a number of historic objects to show the skill and ingenuity with which diamonds have been used in different cultures and traditions. They include the 18th century bloodstone snuff box made for King Frederick the Great of Prussia. The box incorporates nearly 3,000 diamonds arranged pictorially to represent flowers, insects and musical instruments.

For tickets and visitor information, go to www.royalcollection.org.uk or call +44 (0)20 7766 7300.

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New Website, Book and Jewelry Line from Designer Turned Curator Elizabeth Galton

Elizabeth Galton

It’s been a very busy year for London-based jewelry designer Elizabeth Galton. The former creative director of Links of London quit her high-prestige job to start her own company where she serves as a curator, a champion if you will, for other contemporary and commercially viable designers. The result is the luxury jewelry and accessories website, ElizabethGaltonStudio.com.

The site features collections for women and men from more than 60 contemporary luxury designers. The website allows users to easily view and purchase luxury jewelry, gifts and accessories from a new generation of design talent. Prices for gift, bridal and bespoke items range from $64 for soft accessories to $56,000 for fine jewelry designs to more than $100,000 for bespoke pieces.

The thing that’s novel about this venture, is that this well-known jewelry designer is using her stature in the industry and with consumers to bring other designers onto an online medium. It’s Galton’s name and face that brings credibility to the website.

Many of these designers worked either for Links of London while Galton was leading the design department or worked as designers with similar companies. For example, the Duppoini printed silk scarves that are sold on the site were created by Kate Llamas, formerly from Harrods whose designer, Polina Gineva, created the celebrated Alexander McQueen skull scarf. Jenny Mercian, founder of the Sahani Brand of Swarovski encrusted pieces, previously designed for Victoria’s Secrets. Her celebrity followers include Miranda Kerr, Cheryl Cole and Mary J Blige. Then there’s jewelry designer, Claire English, described by Stephen Webster as “Britain’s next big thing.”

Galton says she knows all of the designers on her website and relishes the opportunity to curate and promote their work.

“EG Studio was borne out of a desire to champion such talent, Galton says. “Their designs speak for themselves and present you with the inside track on unique creations—they are my edit of the best that young “Cool Britannia’ has to offer.”

Galton’s editing doesn’t stop on the design floor. She is in the early stages of publishing her first book. Its object is to be a comprehensive guide on jewelry design from a commercial aspect. Her book will include designers from Elizabeth Galton Studio as well as other designers. So again, she will be serving a curator’s role.

EG Classics bracelet

Finally, Galton has returned to the design floor to create an affordable, colorful line of fashion bracelets that will of course be sold on her website. Galton said her EG Classics bracelets are versatile and will add life to any outfit. They will sell for about $89.

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Kim Kardashian Buys Jade Bracelets at Elizabeth Taylor Auction

The Jade bracelets by Lorraine Schwartz.

NEW YORK - Kim Kardashian purchased three jade bracelets created by Los Angeles jewelry designer Lorraine Schwartz during the second day of the Elizabeth Taylor auction at Chrstie’s New York. Schwartz, a friend of both the reality TV star and the famous actress and humanitarian, was at the auction and purchased the jewelry for Kardashian. They were sold in one lot for $64,900, well above the high $8,000 estimate.

Schwartz said Taylor wore the white, black and lavender bangles nearly every day, particularly in the latter part of her life.

She also said that Kardashian was going to buy those same bangles directly from her but really wanted the pair that Taylor actually wore.

“She loved those bangles for a long time,” Schwartz said. “She bought them because they’re Elizabeth’s.”

Schwartz is known for creating jewelry for some of Hollywood’s biggest stars, including Taylor and Kardashian.

Kardashian, who was the last person to interview Taylor, said by phone that she admired the movie star and jewelry lover. She also spoke about the power of Jade.

“If you have a piece of jade, the energy goes into the piece and you absorb the energy,” Kardashian said. “So I can feel Elizabeth in the piece.”

She added, “Elizabeth Taylor is iconic. She is my idol and my icon.”

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Historic Elizabeth Taylor Auction by the Numbers

Phone bidders compete with those on the auction floor at Christie's New York during the first day of the Elizabeth Taylor auction. Photo credit: Christie's

The landmark auctions of The Collection of Elizabeth Taylor at Christie’s New York from December 3-17 realized a combined total of more than $156.75 million with every single item sold. Among its achievements:

* The most valuable sale of jewelry in auction history—the two-day jewelry sale along (December 13-14) fetched more than $137.2 million;

* The most valuable collection of fashion ever sold at auction--the live sale totaled more than $5.5 million;

* Christie’s first-ever “Online-Only” auction—conducted in parallel to the live auctions—generated more than 57,000 bids and took in more than $9.5 million;

* Six Items sold for more than $5 million;

* 26 items sold for more than $1 million;

The opening night jewelry sale (December 13) alone set seven world auction records; among them:

* The world auction record for a pearl jewel, “La Peregrina,” the 16th Century pearl on a necklace designed by Cartier for Taylor, sold for $11.8 million.

* The world auction record for a colorless diamond per carat, the Elizabeth Taylor Diamond (also known as the Burton-Taylor Diamond). The 33.19-carat Asscher-cut D color potentially flawless diamond sold for more than $8.8 million, or $265,697 per carat.

* The world auction record for an emerald jewel and an emerald per carat went to an emerald and diamond pendant brooch by Bulgari—more than $6.5 million or $280,000 per carat.

* The world auction record for an Indian jewel, the heart-shaped Taj Mahal Diamond, sold for more than $8.8 million.

* The world auction record for a ruby per carat, A Ruby and Diamond Ring, By Van Cleef & Arpels sold for more than $4.2 million or $421,981 per carat.

* The world auction record for a pair of natural pearl pendants, pearl and diamond pendants by Bulgari sold for nearly $2 million.



The sale drew unprecedented interest from bidders throughout the world, who gathered in Christie’s flagship Rockefeller Center saleroom to compete in person, on the phone, online and by absentee bid to win one of the Collection’s 1,778 lots of jewelry, fashion, decorative arts and film memorabilia. The total far exceeded Christie’s pre-sale expectations for the sale as a whole and for individual items, which were frequently hammered down for five, ten, or even 50 times their estimate in some cases.

As one of the most highly-anticipated sales in auction history, the collection generated intense interest from bidders throughout the world, with 36 different countries represented during the four days of live auctions.

Of the sales, Chris Wilding, son of Elizabeth Taylor and member of the Elizabeth Taylor Trust said, “My mother always acknowledged that she was merely the temporary custodian of the incredible things she owned. Today, I think she would be happy to know that her collections will continue to enrich the lives of those who have acquired pieces. My family is proud that our mother’s legacy as a celebrated actress, tireless AIDS activist, and accomplished businesswoman touched so many people’s lives that they wanted to have a part of it for themselves.”

All sales proceeds will be directed to the Elizabeth Taylor Trust. A portion of the profits generated by sales of exhibition tickets, event sponsorships and the ongoing sales of select publications will be donated to The Elizabeth Taylor AIDS Foundation. An estimated 58,000 visitors viewed highlights from the collection since September, when Christie’s launched an eight-city global exhibition and tour that reached Moscow, London, Los Angeles, Dubai, Paris, Geneva and Hong Kong. The grand finale of the tour was a 10-day museum-quality public display of the complete collection that drew thousands of collectors and fans to the company’s flagship galleries in Rockefeller Center.

“The exhibition and sales of The Collection of Elizabeth Taylor in New York have been the crowning achievement to a very strong year at Christie’s,” said Steven P. Murphy, CEO, Christie’s International. “The success of these sales, with bidders participating from all over the world, demonstrated not only a recognition of the taste and style of Miss Taylor, but also the convening power of Christie’s. I am very proud of our whole team, from all corners of our global operation. Their achievement was successfully bringing this event to fruition in a manner that paid homage to the panache and glamour of Elizabeth Taylor herself.”

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Who Bought What at the Elizabeth Taylor Auction and Why

 I’ve never thought of my jewelry as trophies. I’m here to take care of them and to love them – Elizabeth Taylor

After viewing one of the most complete and magnificent private collections of jewelry, art, memorabilia, accessories and other articles ever amassed by a single person during The Collection of Elizabeth Taylor exhibition at Christie’s New York, I wrote the following:

This collection represents a life well spent. Christie’s presentation of the exhibit makes it seem as if her life’s work was complete.

It’s almost a shame that these items will soon be separated.

However, after attending the two days of the fine jewelry sales (part of the four-day Elizabeth Taylor auction at Christie’s New York along with an “online only” component), my mind has changed.

I met friends of Taylor and those who never knew her. I met people who purchased the product because of their ties to Taylor, because of their fascination with a particular piece, or to use what they purchased in their business. It was auction that attracted some of the world’s wealthiest people, celebrities, top professionals in the jewelry and gems industries, and those of modest means.

Bidders prepare for the opening night auction to begin. Photo credit: Anthony DeMarco

The jewelry and other items amassed will be used in all sorts of ways. The important part is that it appears that the jewelry will be used and that’s the way Taylor, it seems, would have wanted it. After all, this is a woman who wore a 33-carat diamond ring almost every day and who was filmed wearing a priceless ruby jewelry collection by the pool. Taylor didn’t put her baubles away for special occasion, she wore them. And her collection showed an appreciation of priceless pieces along with far less expensive items because she either admired the work or they had personal meaning.

Photo credit: Christie's

Jewelry designer to the stars Lorraine Schwartz bought back the fringe diamond bracelet that Taylor bought from her for her 70th birthday.

“I was wearing it for her party at the Bel-Air Hotel, and she kept calling me over to look at it and to try it on,” Schwartz wrote on her facebook page. “Finally, the next morning she called me and said “‘I know who’s buying that bracelet for my birthday … I’m buying it for my birthday!’”

Photo credit: Christie's

Schwartz also bought a pair of earrings that Taylor’s third husband, Michael Todd, created just for her.

“I could feel Elizabeth nudging me telling me to buy them,” Schwartz said on the auction floor during the second day. “That’s what she used to do. She used to say, ‘go ahead buy it.’ She’d be kicking me under the table (saying), ‘Go ahead. You know you want it.’”

Photo credit: Christie's

Schwartz was very busy for the two days. In addition to what she purchased she lost a bid for one of her pieces and purchased a lot of three of her own bangles for Kim Kardashian, who paid $64,900, well above the high $8,000 estimate. “If you have a piece of jade, the energy goes into the piece and you absorb the energy,” Kardashian said by phone. “So I can feel Elizabeth in the piece.”

Photo credit: Christie's

Companies of course got into the act for the larger pieces. The 33.19-carat Elizabeth Taylor Diamond (also known as the Taylor-Burton diamond and formerly called as the Krupp diamond), a gift from Richard Burton, was reportedly bought by South Korean businessman Daniel Pang for $8.8 million. He was bidding on behalf of E-land World, a South Korean concern. The company plans to exhibit the diamond ring at “E World,” an amusement park in Daegu, according to reports.

Photo credit: Christie's

Bulgari, the Italian luxury jewelry house, bought back $20 million worth of jewels, including a 52.72-carat sapphire-and-diamond sautoir for $5.9 million and an emerald-and-diamond necklace for $6.1 million, according to the New York Post.

Photo credit: Anthony DeMarco

Then there’s the paper jewelry. The gag gift from Malcolm Forbes to Taylor has garnered a great deal of media attention—much of it from me. The suite of paper jewelry had a high estimate of $300. It sold on the second day for $6,875. It was purchased by Jenny and John Caro, owners of Jewelry By Design, an independent jewelry store in Woodbridge, Va.

The couple came to the auction with a $50,000 line of credit and in a few minutes it was obvious they were being priced out of buying any real jewelry. So when the paper jewelry came up on the second day, they went all out to win the lot. The couple is using the paper jewelry along with two jewelry pieces they purchased on the online only auction to create an Elizabeth Taylor display for their customers. The jewelry was chosen because they had pictures of Taylor wearing the pieces in books that will be used in the display.

“We’re a good example of a business doing things, being different and taking risks to help our business grow,” Jenny said in a phone interview.

“You couldn’t go by the intrinsic value of jewels, because the truth is everything was selling so high that what you bought you couldn’t turn around,” she added. “The South Korean who bought the Burton diamond bought it for a business reason. What is $8.8 million when it comes to advertising worldwide? What’s $6,800 when it comes to local advertising?”

Using the Forbes gift as inspiration, Christie’s created its own full-color paper jewelry book with recreations of 15 of Taylor’s most iconic jewels. It ran as a limited edition of 5,000 and was available for purchase in person at Christie’s headquarters during the New York exhibition, which was held December 3 -12. It was sold for $25 each, $5 of which went to the Elizabeth Taylor AIDS Foundation.

Los Angeles jewelry designer Sandra Müller had her own unique story. She first met Taylor as a child while living in Europe and credited the actress with inspiring her to build a life in the jewelry field. Taylor was a friend of her parents. As an adult working and living in Los Angeles, she said she would visit Taylor’s house often as a friend and to show her work. In 2001, Taylor bought three of her pieces.

Müller was already planning to go to the auction to bid for a client. While looking through the auction catalog, she discovered that those pieces were being sold as part of the fashion and accessories auction, held on the third day. Her pieces didn’t include her as the creator. She contacted Christie’s and the auction rectified the error.

The high estimate for the jewels was $300. Müller e-mailed me to let me know that her pieces sold for $15,000. With commission the total was actually $18,750.

“The 18k gold value alone would be about 10,000.00 if melted,” she added. “I think it was one of the few good deals in auction.”

I asked her how it felt to sit in the auction room and watch her pieces being sold at the historic event. Her reply was brief.

“Thrilled”

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Queen Elizabeth Displays her Diamond Jubilee Jewelry

Britain's Royal Family released an official Diamond Jubilee portrait of Queen Elizabeth adorned with jewelry from The Royal Collection in honor of her 60th anniversary as Britain’s Monarch.

The Queen is wearing the State Diadem (crown), a circlet of diamonds, created in 1820. She wears this during the procession to and from the State Opening of Parliament, and she wore it on her Coronation Day, for the procession to Westminster Abbey.

The Queen is also wearing Queen Victoria’s Collet Necklace which has been worn by five generations of Royal Ladies (Queen Victoria, Queen Alexandra, Queen Mary, Queen Elizabeth (the Queen Mother) and the present Queen). Queen Victoria (The Queen’s great-great grandmother) wore this necklace for her own official Diamond Jubilee photograph, issued in 1897.

On the blue Garter Riband (or sash) The Queen is wearing the Royal Family Orders of her grandfather, King George V, and father, King George VI.

Her dress is made of white silk, satin and lace with silver colored sequins. The dress has a flowing scalloped edge, and was created in Buckingham Palace by Miss Angela Kelly. In the background is the Queen Victoria Memorial.

The portrait was taken by John Swannell in the Centre Room in Buckingham Palace in December 2011. It is one of two commissioned Diamond Jubilee photographs of The Queen and The Duke of Edinburgh that were released Sunday.

“This is the third time I’ve had the pleasure of photographing Her Majesty, and I always find these events very exciting,” Swannell said. “The Queen and Prince Philip, I thought, were patient and very relaxed on the day, which I hope is reflected in the photographs.”

Queen Elizabeth II ascended the throne of Great Britain on Feb. 6, 1952, upon the death of her father King George VI. She is only the second monarch to celebrate diamond jubilee of her reign.

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Elizabeth Taylor’s Bulgari Jewelry Exhibit on Rodeo Drive

Elizabeth Taylor sapphire and diamond sautoir will be among the Bulgari jewels on display.

Elizabeth Taylor fans will have another opportunity to view some of the most important jewels from her legendary collection.

The Beverly Hills Bulgari boutique on Rodeo Drive will showcase an eight-piece exhibit of Elizabeth Taylor’s jewels on Tuesday, according to published reports. The jewels are on display as a preview to the Academy Awards, which will be held Sunday.

Emerald and diamond suite.

The Italian luxury jewelry house purchased its own pieces during the record-breaking auction of Elizabeth Taylor’s jewels held at Christie’s New York in December 2011. Among the items on display are an emerald and diamond necklace that it bought for $6.1 million, setting records for an emerald jewel and emerald per carat; and an 8.26-carat emerald and diamond pendant brooch that Bulgari purchased for $6.5 million (both pictured above as part of the emerald and diamond suite). The brooch was Taylor's first piece of Bulgari jewelry, according to reports.

Another item is a sapphire and diamond sautoir that Bulgari bought at the auction for $5.9 million (top photo).

A special preview of the display will be held Tuesday from 11:30 a.m. till 1:30 p.m., according to reports.

Follow this link to view more of Taylor's jewels from the Christie's New York auction.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

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Bulgari Unveils Elizabeth Taylor’s Jewels

Julianne Moore wearing the Elizabeth Taylor emerald and diamond
necklace. Photo credit: Getty Images

Italian luxury jewelry house, Bulgari, officially opened its Rodeo Drive boutique Tuesday in true Hollywood fashion with an intimate viewing of some of its greatest creations owned by Elizabeth Taylor. It included the famed mirror Taylor used on the set of the movie, Cleopatra, a sapphire and diamond sautoir and a set of emerald and diamond jewelry.

Items on display at the Bulgari Rodeo Drive boutique. Photo credit: Getty Images

The highlight of the evening, according to reports, was when actress Julianne Moore, a longtime ambassador for Bulgari, strolled into the event wearing the emerald and diamond necklace from the suite, which features the 83.5-carat emerald pendant. It was the first time anyone other than Taylor had worn the necklace. Other Hollywood stars who attended the event included Kirsten Dunst, Drew Barrymore, Naomi Watts, and Clotilde Courau.

Drew Barrymore and the Cleopatra mirror. Photo credit: Getty Images

For those who did not receive an invitation, fear not, as the eight-piece exhibition—all purchased by Bulgari at the auction of Taylor’s jewelry at Christie’s New York in December—will be on display at the store until March 10.

View more pictures from the party on the Bulgari Facebook page by following this link.

Read more about the jewelry on display by following this link.

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Web site.

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Gina Lollobrigida’s Natural Pearl Ear Pendants Breaks Elizabeth Taylor’s Auction Record, Sells for $2.4 Million

Gina Lollobrigida wearing the diamond necklace/bracelet combination, Bulgari, 1954, as a tiara and the record-breaking natural pearl and diamond pendant earrings.

Jewels belonging to movie legend Gina Lollobrigida sold at Sotheby’s Geneva Tuesday for more than $4.9 million (including buyers’ premium), smashing the high estimate of $3.2 million.

The star of evening was a pair of natural pearl and diamond pendant earrings, believed to have been owned by the House of Habsburg, which sold for nearly $2.4 million—an an auction record for a pair of natural pearl ear pendants, beating the figure set by Elizabeth Taylor’s pearl earrings in 2011. Lollobrigida wore those earrings on numerous landmark occasions in her career.

Buyers from around the world also clamored for seminal pieces from the 1950s and 1960s by Bulgari, the auction house said. Lollobrigida is donating her proceeds from the sale to benefit stem cell research. Among the highlights:

* A diamond necklace/bracelet combination, Bulgari, 1954, which realized $783,851, well above the $500,000 high estimate. The necklace was identified by Daniela Mascetti as one of Bulgari’s most important creations in her book Bulgari. Lollobrigida was seen wearing this jewel on key moments in her professional and personal life, including when she received her 1961 Golden Globe for World Film Favorite – Female.

* A diamond ring set with a cushion-shaped diamond weighing 19.03 carats, Bulgari, 1962, which brought $783,851.

* A pair of emerald and diamond earclips, Bulgari, 1964, which sold for $306,633.

* An emerald and diamond ring, Bulgari, 1964, set with a step-cut emerald weighing 16.62 carats which fetched $181,050.

View Gina Lollobrigida’s jewels in the Sotheby’s Geneva auction.

Speaking after the sale, Lollobrigida said: “Jewels are meant to give pleasure and for many years I had enormous pleasure wearing mine. Many people tried to persuade me to sell them, but for a very long time I was unwilling. What changed was seeing a little girl called Sofia suffering from a disorder, which could only be helped by stem cell treatment—treatment which she is unable to receive in Italy. Selling my jewels to help raise awareness of stem cell therapy, which can cure so many illnesses, seems to me a wonderful use to which to put them. It is my hope that the Italian parliament will approve this ground-breaking treatment, so that children and adults in Italy should have free access to it without having to travel abroad at great expense. It now gives me great pleasure to see that these jewels will create a legacy which will live on after me and continue to do good.”

Lollobrigida’s collection was the centerpiece of Sotheby’s Magnificent and Noble Jewels sale Tuesday, which saw nearly 650 lots selling for a combined total of $78.2 million. 

Please join me on the Jewelry News Network Facebook Page, on Twitter @JewelryNewsNet and on the Forbes Website.

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Elizabeth Taylor’s Paper Jewelry Finds a Home with a Virginia Jeweler

Elizabeth Taylor's paper jewelry suite sold at Christie's auction to the owners of Jewelry By Design. Photo Credit: Anthony DeMarco

Out of all the outrageous prices paid for jewelry belonging to Elizabeth Taylor during the two-day auction at Christie's New York, the biggest head scratcher had to be the $6,875 paid for a suite of paper jewelry that had a high pre-auction estimate of $300.

The “jewelry” was a gag gift from Malcolm Forbes to Elizabeth Taylor. She apparently loved the spirit of the gift and recounted the story of it in her 2002 book, My Love Affair with Jewelry.

Jenny Caro, who, along with her husband John, owns Jewelry By Design, a jewelry retail store in Woodbridge, Va., explained why they bought the gift and how they are using it.

Forbes would have been proud of the couple’s marketing savvy.

“Fortunately due to you and other people in the press our purchase of the suite of paper jewelry has turned into a bonanza of free press,” she said.

After purchasing the paper suite, she was interviewed by the BBC outside the auction house. Stories about the purchase have already made the local newspapers. Two Washington, D.C. television stations are scheduled to make the 20-mile trek south to Woodbridge to interview the couple at their store. And now she has a story on Jewelry News Network.

Jenny Caro being interviewed by the BBC about her purchase of paper jewelry. Photo Credit: Jewelry By Design

For a business that advertises on local cable, the purchase has paid off big time in free publicity, particularly the week before Christmas.

It doesn’t end with just the immediate publicity. While taking the train back to Washington, D.C., they purchased two of Taylor’s jewelry pieces through the Online Only Auction that Christie’s is hosting. It will be used along with the paper jewelry in an Elizabeth Taylor display at the store.

John and Jenny Caro.
Photo Credit: Jewelry By Design

“We’re a good example of a business doing things, being different and taking risks to help our business grow,” she said. “What many people see as foolish can be wise.”

She compares her purchase to the purchase of the 33-carat Burton-Taylor diamond by the Korean-based E Land Group, who said they are going to exhibit it at “E World,” an amusement park in Daegu, according to published reports.

“You couldn’t go by the intrinsic value of jewels, because the truth is everything was selling so high that what you bought you couldn’t turn around,” she said. “The South Korean who bought the Burton diamond bought it for a business reason. What is $8.8 million when it comes to advertising worldwide? What’s $6,800 when it comes to local advertising.”

The couple arrived from Washington, D.C., by bus to the black tie gathering on Tuesday night and stayed at a hotel on Rockefeller Square.

“We were there for Tuesday night and at first I was insecure, expecting people dressed to the nines and a thoroughly eloquent affair,” she said. “But people were dressed in all manners and all kinds of people were there. It wasn’t exactly a luxury experience. It was very much of a no nonsense experience at the auction with the seats crammed together.”

It wasn’t necessarily the couple’s goal to purchase the paper jewelry suite. They wanted to buy fine jewelry that Taylor was pictured wearing to use for store promotions. With a line of credit of $50,000, they focused on the opera charm necklace, a gift from Edith Head, a costume designer and very close friend of Taylor. It was the third lot of the evening and had an estimate of $1,500 to $2,000. It sold for $314,500.

It was obvious they were not going to buy anything that night and Jenny said the folding chairs were uncomfortable.

Photo credit: Jewelry By Design

“As the night went on we could see what was happening,” she said. “We left early. You can only watch so many millions be spent like hundred-dollar bills.”

They returned the next day for the second and final day of the jewelry portion of the four-day auction.

“We stayed hopeful but prices were very high (again),” she said. “Ninety percent of the sales went to people on phones. Who knows who they even were? Kim Kardashian? The businessman from South Korea?”

It wasn’t until the afternoon session they found something they could afford: the paper jewelry suite. But it wasn’t easy as they found themselves in a bidding war as the price flew past the $300 estimate and finally sold for $6,875, including auction commission.

“Everyone was looking at us, laughing almost,” she said. “We were thrilled.”

The couple was interviewed by the BBC outside the auction house. Then they decided to skip the bus, feeling that they earned a bit of luxury and took train back to Washington.

Coral branch, multi-gem, cultured pearl and gold necklace purchased online by the Caros. Photo credit: Christie's

But they were still working as they won bids on two items on the online auction: chandelier earrings and an ivory necklace. The winning bid for the necklace was $8,000. In what Jenny describes as an “obscure book,” they found a picture of Taylor wearing the necklace with George Hamilton.

“It’s a very different, interesting necklace,” Jenny said. “She was young when she bought that and you could definitely see how her taste refined over the years and how it became more sophisticated. We are mainly a jewelry store for self-purchasing women and we see our customers develop their taste and sophistication.

In addition to the publicity and the Elizabeth Taylor display, the couple has more plans for the Taylor purchases.

“We look forward to having fun with our customers and we will develop a line of custom jewelry based on what we bought.”

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Elizabeth Taylor Auction Expected to Fetch $30 Million

The Elizabeth Taylor Diamond, a 33.19-carat, Asscher-cut gem that's expected to fetch $2.5 million-$3.5 million.

The first day of the most anticipated jewelry auction in (well, who knows how long?) will begin at 8 p.m. The Collection of Elizabeth Taylor sale at Christie’s Rockefeller Center headquarters in New York is expected to fetch $30 million for 61 lots.

“This is without a doubt the greatest private collection of jewelry ever assembled in one place,” said Marc Porter, chairman and president of Christie's Americas.

This is only the beginning. Another auction of the actress’ jewelry will be held Wednesday, followed by two more days that will see Taylor’s jewelry, couture clothing, accessories, memorabilia and decorative arts sold to the highest bidders.

Among the items in the sale tonight is the Elizabeth Taylor Diamond, a 33.19-carat, Asscher-cut diamond on a ring that was a gift from her husband Richard Burton. This was the ring that Taylor wore nearly every day. Burton purchased the stone at auction in 1968 for a reported $305,000. It's expected to fetch $2.5 million-$3.5 million.

There’s also the La Peregrina, the pear-shaped pearl, ruby and diamond necklace centered with a 203-grain pear-shaped pearl discovered in the 16th Century as its centerpiece. Taylor and Al Durante of Cartier designed the piece. It’s expected to sell for $2 million to $3 million.

Another highlight is The Taj Majal Diamond, a gift from Richard Burton, for Elizabeth Taylor’s 40th birthday in 1972. Inscribed with the name Nur Jahan, the wife of the Mughal Emperor Shah Jahangir, this heart-shaped diamond is believed to have been a gift from the ruler to his son, who became the great emperor Shah Jahan (1592-1666). It is believed that the young prince presented the diamond to his favorite and most beloved wife, Mumtaz-i-Mahal. The emperor’s grief at her death just four years later inspired him to commission the majestic Taj Mahal in her memory. Estimate: $300,000 – $500,000

I will be attending tonight’s auction and will be either tweeting or blogging live from it, so stay tuned.

Read more about the auction on Jewelry News Network by following this link.

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Elizabeth Taylor Auction Fetches Nearly $116 Million

Christie's employees receiving bids by phones.

NEW YORK - By any measure the first night of the Collection of Elizabeth Taylor auction on Tuesday at Christie’s New York was, as the auction houses often say, exceptional. The auction of some of Elizabeth Taylor’s most precious jewels took in nearly $116 million, a world record for a private collection of jewels.

All 80 lots offered were sold and estimates were shattered then crushed throughout the auction. To the best of my knowledge only two items sold within auction estimates. The rest of the lots made the estimates look like afterthoughts as a jammed room full of bidders competed for items with telephone buyers from around the world.

The auction broke six other world records, including the price achieved for a pearl jewel, the per carat price for a colorless diamond, the price for an Indian jewel, and a ruby per carat.

View the jewels of the auction by following this link.

The big winner of the night was the “La Peregrina,” the 16th Century pearl on a necklace designed by Cartier for Taylor, sold for $11.8 million, setting the world record for a pearl jewel. The pre-auction estimate was $2 million to $3 million. Applause and nervous laughter came from the bidders as the price of the diamond hit the $10 million mark. It was the only 12th lot sold on a day that already started incredibly strong.

La Peregrina upstaged what was expected to be the top lot for the evening, The Elizabeth Taylor Diamond. The 33.19-carat Asscher-cut D color potentially flawless diamond set on a ring that Taylor wore nearly everyday, sold for $8.8 million, well above its $2.5 million to $3.5 million estimate.

Less than halfway into the auction it was estimated in the press area that the $30 million pre-auction estimate for the evening was topped. It was a marathon night where rapid, high-speed bidding was offset by long pauses as prices reached levels that few could have imagined. The auction was led by two of Christie’s jewelry experts, beginning with Francois Curiel, Christie's Asia president and longtime head of Christie’s jewelry department who came in from his post in Hong Kong; followed by Rahul Kadakia, head of Christie’s jewelry department in the Americas.

At one point Curiel said, “I don’t know where to start. Should I ask you? Maybe I’ll start at $10 million.”

The Taj Mahal Diamond, a gift from Richard Burton to Elizabeth Taylor for her 40th birthday sold for $8.8 million. The heart-shaped diamond is believed to have been owned by emperor Shah Jahan (1592-1666). He presented the diamond to his favorite and most beloved wife, Mumtaz-i-Mahal. The emperor’s grief at her death just four years later inspired him to commission the majestic Taj Mahal in her memory. The estimate was $300,000 - $500,000.



A Bulgari 18.26-carat emerald and diamond pendant brooch sold for $6.5 million, spectacularly above the $500,000 to $700,000 estimate.

It was a big night for Bulgari. An emerald and diamond necklace sold for $6.1 million, well above its $1 million to $1.5 million estimate. This was followed by a sapphire and diamond sautoir that sold for $5.9 million, smashing the high estimate of $800,000.

Van Cleef & Arpels also had a big night. A ruby and diamond ring, a gift from Burton, sold for $4.2 million, a world record for a ruby per carat.

The Mike Todd Diamond Tiara, which made some of the women weak in the knees, sold for $4.2 million, totally smashing its estimate $60,000 to $80,000 estimate.

A Bulgaria emerald and diamond bracelet sold for just over $4 million.

Cartier also had a great night. A ruby and diamond necklace from the Parisian luxury jewelry house sold for $3.7 million, smashing its $200,000 to $300,000 estimate.

At the brief press conference that followed, Curiel was asked to explain why the prices for the jewelry were so far above the actual prices. He explained that the items were priced according to their “intrinsic value” and not based on Taylor’s celebrity appeal.

“We wanted to let the market decide what premium to pay over the value of the stones or the value of the stones or the value of the jewels,” he said.

The market decided.

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Elizabeth Taylor Two-Day Jewelry Sale Fetches a Record Breaking $137.2 Million

Francois Curiel Leads the auction Wednesday.

NEW YORK - Nothing could have topped Tuesday night’s $115.9 million jewelry auction of Elizabeth Taylor’s Legendary Jewelry and no one expected that to happen. However, the second and final day of the jewelry sale, held Wednesday at Christie’s New York fetched another exceptional result: $21.3 million.

The two days of marathon auctions achieved the combined total of more than $137.2 million, making it “not only the most valuable private collection of jewelry ever offered at auction, but also the most valuable sale of jewelry in auction history,” the auction house said Wednesday. 

Again, 100 percent of the lots were sold during the eight-hour sale and no more than one item sold for its auction estimate. Sales 10 times the high estimate was the norm. Two items sold for more than $1 million. They are:

An antique garland-designed necklace with suspended natural and rose cut diamonds sold for nearly $1.5 million and was the top lot of the daylong session. The high estimate was $150,000.

The other was the most anticipated piece, the Burton wedding bands. Two eternity bands, the first designed as a baguette-cut diamond eternity band, mounted in gold; the second designed as a circular-cut and single-cut diamond octagonal-shaped eternity band, mounted in white gold. The pair sold for just over $1 million after 15 minutes of intense bidding. The high estimate was $8,000.

“It took eight hours and three auctioneers to sell 190 more jewels from Elizabeth Taylor’s storied collection,” said François Curiel, international director of jewelry at Christie’s. “The atmosphere was electric from the very first to the last lot, with collectors from Asia, the Middle East, Europe and America chasing each individual jewel with a tenacity never seen before.”

Wednesday’s event at Christie’s Rockefeller Center headquarters was more casual than the intense black tie affair Tuesday night, but it had plenty of moments of intense bidding, dramatic pauses and even moments of humor. Like the previous auction estimates were treated as something one needn’t be bothered with.

Online bidders were strongly involved in many items and there were many other bidders on the phone from around the world. Curiel said the spectacular results of the prior night’s sale led to more international interest. Circular cut amethyst with turquoise ear clips led to a battle among three online bidders before selling for $52,500. New Zealand’s name came up during several bids.

Jewelry from the House of Taylor did very well with three lots selling for more than $200,000. Taylor licensed her to the company, which produced fine jewelry at several price points. Rge short-lived company had a spectacular rise and sudden fall in 2008 during the beginnings of the economic recession.

Pieces from many of the luxury jewelry brands associated with Taylor for years (Van Cleef & Arpels, Cartier, Bulgari and others) had another exceptional day.

Bidders whom I spoke with were awestruck by the selling prices over the two days. But they were smiling, knowing that they were part of a once in a lifetime event. Los Angeles-based jewelry designer, Lorraine Schwartz, a friend of Taylor who designed some of her jewelry, tried to buy back one of the pieces. She lost.

“I was thinking like the dealer that I am,” she said. “I just couldn’t bring myself to go higher.”

One of the more unusual lots was a suite of paper jewelry that Forbes founder, Malcolm Forbes, gave to Taylor as a gag gift. It sold for $6,875. Its estimate was $200 to $300. How do you explain this?

The longest and most intense bidding was for the Burton wedding rings, the last lot of the two-day sale. There was several moments of extended silence as Rahul Kadakia, head of Christie’s jewelry department in the Americas, extended the bidding as the price moved up in tiny increments.

When the gavel finally sounded, the audience let out a breath and applauded.

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