Wednesday, September 7, 2011

Elizabeth Taylor's Jewels Go To Auction

For those amongst us who truly covet the beautiful gems of the world and the back stories of those who owned them, get ready because some of the most magnificent jewelry in the world are about to be recycled. From Cartier and Van Cleef and Arpels to JAR and Bulgari, this December, Christie's will auction Elizabeth Taylor's complete jewelry collection, estimated to be worth 30 million dollars or more. Christie's will also auction a group of Taylor's better costume jewelry along with some of her clothes, which seems a little Skelator to me; however, as we all know, there is a market for everything. Over the next few weeks I'll look a little more closely at Liz's jewels and the stories behind them.

One of her most memorable jewels is the Krupp diamond, now known as the "Elizabeth Taylor Diamond," which Richard Burton bought for her in 1968 for $305,000. At that time, this was the highest price ever paid for a diamond at auction. An Ascher cut diamond, weighing 33.19 carats of D, VS1 magnificence, today the diamond is valued at between $2,500,000 - $3,000,000.

Previously owned by Vera Krupp von Bohlen und Halback, wife of the German industrialist, Alfried Krupp, etc., etc., the diamond was auctioned after Vera's death. There is a somewhat creepy background to the stone as Alfried was a key supplier of weapons and material to the Nazis during World War II.  Krupp's insistence on using slave labor taken directly from the concentration camps, even when free German labor was offered from the government, resulted in his trial and ultimate three year imprisonment after the war. 
The Elizabeth Taylor Diamond, 33.19 carats, D Color, potentially Internally Flawless.
Gift from Richard Burton, May 16, 1968.
Eat your heart out Kim Kardashian.