James Allen News Center

Elizabeth Taylor’s private jewelry collection was auctioned off this past Tuesday night in Manhattan, racking in an impressive $116 million. The auction featured 80 gems from Taylor’s Estate. The majority of the proceeds will go to her 20-year-old Elizabeth Taylor AIDS Foundation.

"It's one of the most extraordinary auctions that Christie's has ever had and a testament to the affection for Elizabeth Taylor worldwide," Marc Porter, president of Christie's Americas, told the New York Post. 

Taylor’s “La Peregrina,"— a 16th-century pearl on a necklace designed by Cartier— sold for 11.8 million. The keepsake, which Taylor's husband Richard Burton gave her in 1969, was expected for sell for between $2 million to $3 million. Upon surpassing the $10 million mark, the auctioneer and bidders burst into applause. Its final selling price set the record for the most expensive single pearl jewel ever sold in an auction.

Taylor’s 33.19-carat diamond ring, given to her by Burton sold, for $8.8 million. Her heart-shaped Taj Mahal Diamond (which Burton gave her in 1972 for her 40th birthday) sold for $8.8 million, although it was estimated to sell for $300,000–$500,000. Emperor Shah Jahan, who built the Taj Mahal in memory of his much-loved wife Mumtaz-i-Mahal, was the original owner of the diamond. Daniel Pang, a representative of a Korean hotel company, bid the highest and bought the piece.

Last but not least, Taylor’s diamond and sapphire ring, a gift from her dear friend Michael Jackson, sold for $600,000.

According to Forbes, the auction set 7 new world records, such as the per carat price for a colorless diamond, for an Indian jewel, and for ruby per carat.

More of Taylor’s memorabilia, including her wardrobe, art and mementos, will be auctioned later this week at Christie’s New York. In February, her art collection of modern and impressionist pieces will be sold at Christie's in London.

Taylor died last March, at the age of 79, after suffering years of illness.