How Much Does Elizabeth Taylor's Celebrity Add To $50 Million Jewelry Collection?

by Joseph K. Levene & Robert Grunder

The Elizabeth Taylor Diamond, Estimate: $2,500,000 – $3,500,000
The Elizabeth Taylor Diamond, estimate: $2,500,000 – $3,500,000, 
purchased by Richard Burton in 1968 at Sotheby's Parke-Bernet 
"Elizabeth Taylor was the last great movie star, the queen of Hollywood," explained Jonathan Rendell, Deputy Chairman of Christie's Americas, not a so-called star seen on Dancing With The Stars and Celebrity Apprentice.

Married eight times, twice to Richard Burton, Elizabeth Taylor had a legendary six decade career film career, appearing in over 50 films and the recipient of two Oscars. Ms. Taylor was also a pioneer activist in the fight against AIDS, a charity that she continues to support via a substantial pledge from proceeds from her estate.

Elizabeth Taylor also collected art, furniture and jewelry and after Christie's December 13, 2011 jewelry auction of over 250 lots, she may become famous for her knowledge rivaled the best jewelers in the world who loved to create jewels for her. Elizabeth Taylor loved jewelry and amassed an extraordinary collection that Christie's estimates to will fetch over $50 million. 

What is the celebrity premium Elizabeth Taylor's provenance will add to her vast jewelry collection. 

She loved and collected jewels the way children collect toys. "It would be very glamorous to be reincarnated as a big ring on Elizabeth Taylor's finger," Andy Warhol once mused about the woman who owned the 33-carat Krupp diamond ring — a gift from Burton that she wore daily that is now called the Elizabeth Taylor a diamond ring of 33.19 carats; that was a 1968 gift from Richard Burton, that Burton purchased for Ms. Taylor at Parke-Bernet Galleries, New York, in May 1968 for $300,000.  The ring is now estimated at  $2,500,000 – $3,500,000. 
        Van Cleef & Arpels Ruby & Diamond Ring, of 8.24 carats
       1968 Christmas Gift of Richard Burton to Ms. Taylor
           Estimate: $1,000,000–$1,500,000
Before the December 13, 2011 auction, the Elizabeth Taylor jewelry collection will complete a three-month tour around the world, and be on public view in Los Angeles, London, Paris, Geneva, Moscow, Dubai and Hong Kong.

The Mike Todd Diamond Necklace, A Belle Epoque Diamond Necklace, circa 1900
1957 Gift from Mike Todd, Estimate: $25,000-$35,000

A Diamond, Emerald and Gold “Snake” Bracelet Watch by BVLGARI, circa 1961
Estimate: $12,000-$15,000
A Sapphire and Diamond Sautoir by BVLGARI, 1969, Gift from Richard Burton for Elizabeth Taylor’s 40th birthday, 1972
Estimate: $600,000 – $800,000
Christie's is creating an event surrounding Elizabeth Taylor's auction and will charge $30.00 admission to get a peek at her collection of jewels, art and fashions. In addition Christie's will be selling special commemorative Elizabeth Taylor collection catalogues that include:

“The Prince of Wales Brooch”, circa 1935 formerly from the Duchess of Windsor Collection
Purchased by Elizabeth Taylor from Sotheby’s, Geneva, April 1987; Estimate: $400,000 – $600,000

Andy Warhol recognized Elizabeth Taylor's iconic status six decades ago when he created his 1962 painting titled Men in her Life, in which he silkscreened Elizabeth Taylor 38 times with Michael Todd, her third husband, along with Eddie Fisher and Debbie Reynolds. 

For the painting, Andy Warhol made his silkscreen from a photograph that was taken in 1957, when both women were pregnant.  Less than a year later, Mike Todd was killed in an airplane crash. Taylor also was supposed to fly, but at the last moment refused because of poor health. Some time after the death of Mike Todd, Elizabeth Taylor started a romance with Eddie Fisher, who became her next husband.

Andy Warhol Men In Her Life sold for $63.4 million
Andy Warhol Men In Her Life, sold for $63.4 Million at Phillips 
Andy Warhol's Men in Her Life tribute to Liz Taylor was sold for $63.4 million in October, 2010 at Phillips de Pury, the second highest Andy Warhol price fetched at public auction for a work by the artist; Andy Warhol's Green Car Crash sold in 2007 for $71.7 million. 

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