Elizabeth Taylor's $12.7 million emerald necklace was historic because it joined museum-grade Colombian emeralds, a famous Burton-Taylor romance, and auction records. The total covers two matching Bulgari jewels that sold together as a landmark of twentieth-century jewelry design. A step-cut emerald has long, straight facets that show color rather than sparkle. Colombian origin matters to collectors because those stones often have a rich, saturated green prized for large jewels.
Table of Contents
- What was the two-piece jewel?
- Why did Richard Burton give it in stages?
- Why did the 2011 sale break records?
- What should buyers take from the $12.7 million figure?
What was the two-piece jewel?
The necklace is a 1962 Bulgari platinum piece set with 16 graduated step-cut Colombian emeralds totaling about 60.50 carats. Each emerald sits in a surround of brilliant-cut and pear-shaped diamonds, according to the Bulgari Heritage listing. Its detachable pendant began life as a separate brooch.
The center is a large step-cut Colombian emerald of about 23.44 carats with a pear-shaped diamond frame, made to hang from the necklace. Worn together, the pieces form a graduated collar with a major pendant drop. Worn apart, the brooch works as a standalone jewel, which increased its practical and display value.
Why did Richard Burton give it in stages?
Richard Burton first gave Taylor the emerald brooch for her 30th birthday and engagement in 1962 during the filming of Cleopatra. He then gave her the matching necklace for their Montreal wedding on March 15, 1964, as described by Bulgari archivist Amanda Triossi in the AnOther Magazine interview. Taylor wore the necklace as her only wedding jewel.
That choice tied the suite to a highly photographed public marriage. For collectors, staged gifts with wedding wear strengthen provenance. A jewel linked to a date, place, and event is easier to document than a jewel with only a maker name.
Why did the 2011 sale break records?
At Christie's New York on Dec. 13, 2011, the necklace realized $6,130,500 against a $1 to $1.5 million estimate. The pendant realized $6,578,500, for a combined total near $12.71 million, according to the Christie's post-sale report.
The pendant result set the world auction record for the most expensive emerald jewel and for emerald price per carat. Guinness World Records placed the per-carat price at about $280,413 in its emerald auction record listing. The evening sale itself reached $115,932,000. That result made it the most valuable jewelry auction held up to that time.
What should buyers take from the $12.7 million figure?
Treat $12.7 million as a two-piece total, not the necklace price alone. The necklace accounted for $6.13 million and the pendant for $6.58 million. That distinction matters when comparing historic prices.
A single-lot record and a combined suite total measure different things. Bulgari bought back the Taylor emeralds for its Heritage Collection, where they remain for exhibition and loans. A maker repurchase often signals lasting design importance beyond celebrity ownership.
- Ask whether a quoted price covers one jewel or a matched set
- Check if a pendant, brooch, or clasp detaches and was sold separately
- Compare carat weight, origin, treatment, maker, and provenance before comparing values
- Use auction house results for estimates, not asking prices or press roundups