Famous Bulgari Jewelry on Display in San Francisco

“Tubogas” choker, 1974; two-color gold with Greek silver coins. Bulgari Heritage Collection, inv. 404 N607. © Antonio Barrella Studio Orizzonte.

By Maria Ling,
Assistant Editor

One more reason to spend the holidays in San Francisco is the ongoing exhibition of Bulgari jewelry at the de Young Museum. 

“The Art of Bulgari: La Dolce Vita & Beyond 1950 - 1990,” is an exhibition of approximately 150 pieces created by the renowned Italian jeweler over four decades. It highlights jewelry that defined a pivotal period in Italian design, and includes pieces from the personal collections of Elizabeth Taylor, Ellen Barkin and other famous names. The exhibition will run through February 17, 2014.

Sautoir, 1969, platinum with sapphires and diamonds. Formerly in the collection of Elizabeth Taylor. Bulgari Heritage Collection, inv. 6675 N2170 © Antonio Barrella Studio Orizzonte.

Bulgari notably began to create its own trademark in jewelry in the 1960s by embracing boldly-colored combinations of gemstones, use of heavy gold, and forms derived from Greco-Roman classicism, the Italian Renaissance, and the 19th-century Roman school of goldsmiths. The company helped to develop a look that would come to be known as the “Italian school” of jewelry design. Pieces in the exhibition display the jeweler’s eclectic creativity and invention during this period.

Bracelets, 1955 and 1959; platinum with diamonds. Formerly in the collection of Ellen Barkin. Bulgari Heritage Collection, inv. 4924 B527, 4925 B528 © Antonio Barrella Studio Orizzonte.

Works in the exhibition also include those from the 1970s and 80s, a particularly innovative period for the jeweler and one influenced by Pop Art and other contemporary trends. 

“Parentesi” parure, ca. 1982; Gold with diamonds. Bulgari Heritage Collection, inv. 5063 E173, 5068 N1500, 5072 B508 © Antonio Barrella Studio Orizzonte.

“The hard-edged designs of the 1970s included a whole range based on the Stars-and-Stripes motif, while in the 1980s the Parentesi collection had a smoother, modular, almost architectural presence; both show how the jeweler could lead in new directions with a strong sense of design,” said Martin Chapman, curator in charge of European Decorative Arts and Sculpture at the Fine Arts Museums of San Francisco.

“Bib” necklace, 1965; Gold with emeralds, amethysts, turquoise, and diamonds. Formerly in the collection of Lyn Revson. Bulgari Heritage Collection, inv. 401 N565. © Antonio Barrella Studio Orizzonte

Bulgari’s successful cultivation of prominent patrons and movie stars like Sophia Loren, Ingrid Bergman, and perhaps most notably, Elizabeth Taylor, has long been a key aspect of the jeweler’s reputation. 

To help explore the cultural context in which these objects were made, the exhibition will include sketches, photographs, and other archival materials that help to reveal an intersection of celebrity, design and fine craftsmanship.

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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. 

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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.

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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.

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Record Breaking Jewelry Moments Worthy of Olympic Gold

Christie’s employees taking phone bids during The Collection of Elizabeth Taylor auction at Christie’s New York. Photo credit: Christie’s

As the 2012 London Summer Olympics winds down, it got me thinking about some of the great moments in history as it pertains to jewelry, gemstones and precious metals. Wealth and power throughout time has often been measured in the ownership of the most valuable and desirable adornment. Often the stories of precious ornaments ran alongside the rise and fall of kingdoms. Below is just short listing of some of the milestone moments. Please feel free to add more.

* The Most Valuable Sale of Jewelry in Auction History. “The Collection of Elizabeth Taylor” auction held at Christie’s New York in December 2011. Following a worldwide tour and a 10-day exhibition at Christie’s New York, the two-day sale of Ms. Taylor’s jewelry took in approximately $137.2 million. The opening night jewelry sale (December 13) alone set seven world auction records for some of the most important jewels in the world, including:

La Peregrina. Photo credit: Christie's

- The World Auction Record for a Pearl Jewel. “La Peregrina,” one of the most famous pearls in the world with a history that spans 500 years, on a necklace designed by Cartier for Taylor, sold for $11.8 million. It is believed to have been found by an African slave on the coast of the isle of Santa Margarita in the Gulf of Panama in the mid-16th Century or as early as the 15th Century. This pear-shaped pearl of 203 grains in size—equivalent to 55 cts.—became part of the crown jewels of Spain. Prince Philip II of Spain gave it as a wedding gift to his wife, Mary Tudor of England. It was passed on to the Spanish queens Margarita and Isabel, who wore the pearl in 17th century portraits painted by Velázquez. Richard Burton famously purchased the pearl for Elizabeth Taylor at auction in 1969 for $37,000, after successfully outbidding a member of the Spanish Royal family. Burton gave the pearl to Taylor on Jan. 23, 1969. Inspired by a 16th century portrait of Mary Queen of Scots, who wore it as a pendant to a brooch, Taylor commissioned Cartier to design a new mount of matched natural pearls and rubies, designed by Al Durante.

Elizabeth Taylor Diamond. Photo credit: Christie's

- 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 33.19-ct., D color, potentially internally flawless diamond mounted on a ring was a gift from Richard Burton on May 16, 1968. The most iconic of her cherished white diamonds, it became the ring Ms. Taylor wore almost every day. The Type IIa diamond was purchased at auction for $300,000 in 1968 as the Krupp diamond. It is also known as the Taylor-Burton diamond.

Taj Mahal Diamond. Photo credit: Christie's

- The World Auction Record for an Indian Jewel. The heart-shaped Taj Mahal Diamond that sold for more than $8.8 million. 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). At the age of 35, 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 was legendary—in her memory he commissioned the majestic Taj Mahal. Richard Burton gave it to Ms. Taylor in 1972 for her 40th birthday.

Joseph Asscher Photo credit: Royal Asscher

* The World’s Largest Rough Diamond. The 3,106-carat Cullinan diamond uncovered in 1907 by Frederick Wells at the Premier Mine in Pretoria, South Africa. Wells presented the diamond to Sir Thomas Cullinan, who owned the mine. Cullinan then sold the diamond to the Transvaal provincial government, which presented the stone to Britain's King Edward VII entrusted the cutting of the Cullinan to Joseph Asscher, head of the Asscher Diamond Company of Amsterdam. Asscher studied the stone for six months before attempting the cut. Legend has it that on his first attempt, the steel blade broke, with no effect on the diamond. On the second attempt, the diamond shattered exactly as planned; Asscher then fainted from nervous exhaustion. Lita Asscher, president of Royal Asscher of America and sixth generation heir to the family business, says her family has their own spin on the story: “We always say that he did not faint. He drank too much champagne (after cutting the diamond) and then he fainted.”

"Star of Africa I," or "Cullinan I" Photo credit: Royal Asscher

* The World’s Largest Cut Diamond. The Cullinan was later cut into nine large stones and about 100 smaller ones. The largest stone is called the "Star of Africa I," or "Cullinan I," and at 530 carats, it is the largest-cut fine-quality colorless diamond in the world. The second largest stone, the "Star of Africa II" or "Cullinan II," is 317 carats. Both of these stones, as well as the "Cullinan III," are on display in the Tower of London with Britain's other crown jewels; the Cullinan I is mounted in the British Sovereign's Royal Scepter, while the Cullinan II sits in the Imperial State Crown.

Cullinan I was the largest diamond in the world until 1987. The Golden Jubilee Diamond now has that honor. At 545.67 carats, it outweighs the Cullinan I by 15.37 carats. The yellow-brown diamond in a fire rose cushion cut was purchased from De Beers by a group led by Henry Ho of Thailand and given to Thai King Bhumibol Adulyadej in honor of his 50th coronation anniversary. It is now located in the Royal Thai Palace as part of the crown jewels.

Faberge Siberian aquamarine and diamond brooch was a gift from Tsar Nicholas II to princess Alix of Hesse. They were executed July 17,1918, and she was wearing the jewel right up until the time of her death. Photo credit: Anthony DeMarco

The World’s Best Story Attached to a Piece of Jewelry. A Siberian aquamarine Fabergé brooch that Russian Tsar Nicholas II gave to princess Alix of Hesse as an engagement gift. I saw this piece at Wartski jewelry antique store in London, best known as the “royal warrant of appointment,” one of a handful of companies that supply goods and services to the British Royal Family. Geoffrey Munn, the store’s managing director Fabergé told the story behind the brooch:

In here we have a Fabergé brooch, a Siberian aquamarine surrounded by diamonds. That’s all we knew for a while. It’s an exemplary aquamarine and it’s of extraordinary color. (women in the group gasp with amazement). I know, I know it’s fabulous. (But) it’s only the beginning of the trouble. Because this really is going to wreck you and you’ll need a stiff drink afterwards. It’s an exemplary aquamarine and it’s a Siberian one and they don’t really come in that color unless they do come from Siberia.… The story of this is really quite awe inspiring because the color blue in the lore of lapidary stones stands for love and then there’s sort of the interlock of two lives with diamonds forever. And that’s all we knew for a very long time until my colleague sent off the number to Russia and back came the provenance and it said that it was bought by the Supreme Autocrat of all the Russias—a pretty hot title—and there’s a note beside it saying it was the engagement present from (Russian Tsar) Nicholas II to princess Alix of Hesse. And that is sort of stratospheric. But then what happens later is even more heartbreaking because when they were taken to prison in Siberia (during the Bolshevik Revolution), they went to a place called The House of Special Purpose—a very menacing title—and you know what happens next but this (the jewel) was with her just before she was taken to the basement and riddled with gunfire. It was confiscated and it isn’t actually open to debate because it was a civil service theft and so they made an inventory of what they’ve taken from her and they photographed it on the table so you don’t hear any fanciful stories. I think possibly that’s as far as jewelry will ever take you.

Tsarevna Swan

* Most Diamonds Set on a Single Ring. Could this be an object that will hold a history of its own? The “Tsarevna Swan,” a tall, highly stylized 18k white gold ring set a Guinness World Record for having the most cut diamonds on a ring: 2,525. It was unveiled in 2011 by the Lobortas Classic Jewellery House of Kiev, Ukraine. Regardless of whether this will capture the imagination of future generations of jewelry collectors, it is a great accomplishment.

As I mentioned, you are welcome add anything that I have missed.

Harry Winston Diamond Earrings Could Fetch Nearly $4 Million at Christie’s Geneva Sale

Pear-shaped diamond earrings by Harry Winston estimated to fetch $3.2 million and $3.9 million. Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Pear-shaped diamond earrings by Harry Winston weighing 16.21 and 15.67 carats is the top lot of the May 16 Christie’s Geneva Magnificent Jewels auction at the Four Seasons Hotel des Bergues. The set of D/VVS2, potentially flawless diamond earrings is expected to fetch $3.2 million and $3.9 million.

More than 340 lots estimated to bring in more than $50 million will be offered by the auction house in Geneva, including a colored diamond ring (whose history is closely linked to Hollywood legends Elizabeth Taylor and Richard Burton), jewelry that once belonged to Mexian movie icon Maria Felix, a diamond tiara commissioned for the wedding of Count Carlo Raggio and Marchioness Tea Spinola in 1909, and a collection of Cartier cats.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

A 12.6-carat fancy brown-orange diamond ring (pictured above) that was offered to Elizabeth Taylor by Richard Burton in 1975 while they were in Africa is estimated at $600,000 – $800,000. Taylor refused the present, arguing that the money should be spent for building a hospital in Botswana.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Other significant items include a diamond flower brooch (pictured above) that is expected to fetch $2.5 million – $3 million and a 33.07-carat cushion-shaped Kashmir sapphire ring that is estimated to sell for 2.5 million – $3 million.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

A Belle Epoque old-cut diamond tiara (pictured above) was part of a large group of exceptional jewels, specially commissioned by Italian jeweler Filippo Chiappe (1863-1936), for the wedding of Count Carlo Raggio and Marchioness Tea Spinola in 1909. Appointed court jeweler to the Savoy House and official supplier to the Italian Royal Family in 1913, Filippo Chiappe is one of the most famous Italian jewelers of his time. It has an estimate of $320,000 – $530,000.

Photo Credit: CHRISTIE'S IMAGES LTD. 2012

Jeanne Toussaint, appointed director of jewellery at Cartier in 1933, is credited with the creation of “Big Cat” jewelry. The Duke of Windsor commissioned a panther brooch in the late 1940s, and since then the panther has become an iconic Cartier motif. A great example of the legendary “Big Cat” series is a diamond, colored diamond, onyx and emerald tiger brooch created by Cartier in the 1960s. Designed as a tiger hanging from a baguette-cut diamond hoop, its body, tail and head set with yellow diamonds and onyx, its estimate is $290,000 – $380,000.

The highlight of a section dedicated to antique Indian jewels is the set of diamond, enamel and gold jewelry from the collection of Mexican movie legend María Félix (1914-2002). Comprising of a brooch designed as a Mughal tulip set with table-cut diamonds, a bracelet set with octagonal and pear shaped table-cut diamonds, a necklace centering upon a table-cut diamond flower-head with old-cut diamond leaves, and a pair of modern ear pendants, designed as diamond flower-heads, this set dates back to the 19th century and will be offered as a single lot with an estimate of $1 million to $1.5 million.

Christie’s Magnificent Jewels sale will be held at the Four Seasons Hotel des Bergues, May 16 at 2 p.m. and 7 p.m. Viewings in Geneva will be held May 11 till May 16.

Gemesis Creates Lab-Grown Colorless Diamonds

A 1.05-carat colorless round diamond from Gemesis with Very Good cut, J color and VVS2 clarity, certified by IGI.

A Florida-based diamond company has begun selling colorless, lab-created diamonds on its Internet site directly to consumers.

Gemesis Diamond Company has been producing lab-created fancy colored diamonds (primarily yellow diamonds) for some time, with limited acceptance by the jewelry industry and consumers. But the production of colorless diamonds, by far the most widely used diamonds in the world, with what it calls “excellent color and clarity” could give jewelry retailers, jewelry designers and consumers a real choice when specifying diamonds. (In this case the term “colorless” is used to describe what are also known as “white diamonds,” meaning not colored diamonds. It is not describing the “Clarity” grading standard for diamonds, one of the 4Cs.)

Gemesis colorless diamonds are all certified as Type IIa, the purest type of diamond, almost or entirely devoid of chemical impurities. Less than two percent of the world’s diamonds produced naturally are Type IIa. Many of those diamonds are among the most widely sought after in the world, including the “Elizabeth Taylor Diamond,” formerly known as the “Krupp Diamond,” a 33.19-carat Type IIa diamond that was recently auctioned by Christie’s.

There will be confusion with these diamonds, calling them synthetic diamonds. This would be wrong. These are actual diamonds that are formed in a laboratory as opposed to being created naturally.  

Updated information: As I’ve learned,  the explanation above isn’t how many in the industry view this. For many, anything grown in a lab is considered synthetic. This will probably never be settled. But the bottom line remains that these are diamonds. They are not to be confused with diamond-like gems such as cubic zirconia and moissanite.

In addition to the quality of diamonds, another selling point the company is eager to push is that lab-grown diamonds are “conflict-free,” meaning they were not mined in areas where there is a potential for human rights abuses as well as large-scale environmental impact. The diamonds are accompanied by certificates from the International Gemological Institute.

The company, located in Lakewood Ranch near Tampa, says their colorless diamonds are priced according to their overall quality and color, in the same manner as mined diamonds. The largest diamond available on the Gemesis website is a 1.05 carat round diamond with J-color, VVs2 and “very good” cut is priced at $4,837.04. A similar diamond on the Blue Nile website with a Gemological Institute of America certificate is priced at $6,238, an approximate $1,400 difference.

Stephen Lux, Gemesis president and CEO, said in a statement that price alone will not be the only selling point of these diamonds.

“The value proposition to consumers is tangible. It’s not only about price, but about getting the purest and highest-quality diamonds,” he said. “Add to that environmental responsibility and the ability to unequivocally know your diamond’s origin and we have a very special product offering.”

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”