Elizabeth Taylor - the Queen of Diamonds 

By now everyone has heard about the spectacular results in the first day of Christie’s auction of Elizabeth Taylor’s world-renowned diamond collection.

More than a few items carried seven-figure pre-sale estimates, but the bidding went above and beyond for what Christie’s Americas Chairman Mark Porter called “the greatest jewelry collection to be offered in a century.”

The Krupp diamond (All images courtesy of Christie's)

Taylor’s famous Krupp diamond ring, a 33.19-carat bauble that was especially dear to heart because (like so much of her jewelry) it was a gift from Richard Burton, was estimated at $2.5-$3.5 million, but blew way past that, finally being knocked down for over $8.8 million.

La Peregrina (detail) 

But the piece that really made headlines was a pearl – specifically, La Peregrina, a 16th-century pearl set in a diamond and ruby necklace designed by Cartier. Another gift to Taylor from Burton, the necklace was estimated to sell for $2-$3 million, but went for a whopping $11,842,500 – a world record auction price for a pearl.

The Dame earrings by Van Cleef & Arpels 

Other goodies under the hammer ranged from  legendary jewels like the Taj Mahal diamond necklace, another historical piece that was a present from Burton, to modern jewelry like a Lorraine Schwartz yellow diamond ring. A diamond watch (a gift from Taylor’s friend, pop star Michael Jackson) was among the collection auctioned, as were the Van Cleef & Arpels butterfly earrings that Taylor herself designed and wore when she was named a Dame of the British Empire.

The Taj Mahal diamond necklace

The first day of the Elizabeth Taylor jewelry sale has already set a record as the most expensive personal collection of jewels ever put up for auction.  

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According to the UK’s Daily Mail, the previous record for the most expensive dessert in the world ($18,700) was held by Frozen Haute Chocolate – a concoction served up at the Serendipity Restaurant in New York. The decadent dessert included 28 kinds of cocoas, edible 23-karat gold, and was served in a gold goblet lined with more edible gold.

But the Brits weren’t about to let the Yanks hold on to the title. Chef Marc Guilbert has now created a $34,300 dessert that features Belgian chocolate, fruit jelly, almond sponge – and real gold leaf. Instead of being topped by a cherry, a two-carat diamond is the crowning touch.

It’s not just for show, either – the gold and diamond dessert has actually been purchased. Rugby resident Carl Weininger plans to serve it today at his 60th birthday party. Let’s hope none of the guests breaks a tooth on the diamond, or swallows it accidentally!  

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A respective of work by contemporary artist Damien Hirst is scheduled to open at London’s Tate Modern on April 4, 2012 and include the artist’s iconic diamondskull. 

The diamond skull is entitled “For the Love of God” and is a platinum craft of a genuine human skull that dates back to the 18th century.

While the sparkling skull features the original skull’s actual teeth, the cast is encrusted with 8,601 diamonds and embellished with a pink diamond weighing 52.4 carats. The skull – which debuted in 2007 and has become a major modern art image – is valued at some £50 million, but will be on display at no cost to visitors in a special dedicated viewing room.

The londonist blog writes that the skull was scheduled to take an international tour this year, but that Hirst’s company, Science, decided that the diamond-decked head would be incongruous with the reigning economic climate.

Needless to say, the Tate will be increasing security for the display.

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