Elizabeth Taylor’s Jewelry Collection Might Be Auctioned

Taylor, wearing her favorite gem: the 69-carat Taylor-Burton diamond, which was purchased for more than $1 million. Photo: Fotos International/2003 Getty Images

Sources tell People that Elizabeth Taylor's collection of jewelry, with an estimated value of $150 million, will be auctioned at Christie's. Luxury Jewels of Beverly Hills president and CEO Peter Sedghi worked with Liz on her House of Taylor jewelry line and says she knew more about jewels than he did. And she was wise to make her love of jewelry so well known, according to friend and jeweler Lorraine Schwartz:

“The studios, in order to make her happy, they’d always give her jewelry. So she grew up collecting it,” she explains. “People always gave her gifts … it was something that she learned to love.” And she took great care of them, too. “She [had] collections and collections, and rooms. She [knew] where every single piece was. [It was] amazing.”

Sources: Elizabeth Taylor’s Jewels to Be Auctioned at Christie’s [StyleWatch/People]
Related: A Tribute to Elizabeth Taylor: Fashion Icon