Hollywood star Margot Robbie made a spectacular fashion statement this week, stepping onto the red carpet wearing one of Elizabeth Taylor's most famous and valuable jewellery pieces. The event was the premiere of Wuthering Heights on Wednesday, where the 35-year-old Oscar nominee captivated onlookers in a stunning Schiaparelli couture gown. However, it was the dazzling accessory that truly commanded attention: Taylor's legendary Taj Mahal diamond necklace, reportedly valued at an astonishing $8 million.
The Story Behind the Iconic Necklace
This remarkable piece has a rich and romantic history. It was gifted to Elizabeth Taylor by her fifth husband, Richard Burton, precisely 54 years ago to mark her 40th birthday. The necklace derives its name from the belief that the central diamond once belonged to Shah Jahan, the Mughal emperor who commissioned the Taj Mahal monument in Agra, India. When presenting it in 1972, Burton famously remarked, "I would have liked to buy her the Taj Mahal but it would cost too much to transport."
The gem's journey has been eventful. It sold for $8.8 million at a New York auction in December 2011, but the sale was later cancelled after the buyer requested a refund, alleging the jewel's imperial provenance was inaccurate. Christie's, the auction house, sought repayment from Taylor's estate, which refused. Court documents revealed the parties eventually reached a settlement, dismissing all claims and agreeing to put the diamond up for auction once more.
The Fate of a $137 Million Collection
The Taj Mahal necklace is merely one star in Taylor's celestial jewellery collection, which sold for an incredible $137 million following her death. The dispersal of these treasures paints a fascinating picture of high-value asset circulation within elite circles.
- Iconic Pieces and Their New Homes: Several major jewellery houses repurchased their historic creations. Cartier bought back a magnificent ruby-and-diamond necklace for $3.8 million, originally a gift from Taylor's third husband, Mike Todd, which she described as "Like the sun, lit up and made of red fire." Similarly, Bulgari reacquired an emerald necklace Burton had given Taylor, which has since been loaned to celebrities like Julianne Moore.
- Private Collections and Public Appearances: Many other pieces found their way into private holdings. The legendary La Peregrina Pearl, discovered in 1516 and once part of the Spanish Crown Jewels, sold for $11.8 million and is now held privately. These private owners occasionally lend gems for red carpet moments, as seen with Robbie this week.
- Record-Breaking Sales: The collection set numerous records. The Krupp diamond, renamed the Elizabeth Taylor diamond, was purchased by the Korean E-Land Group for $8.8 million, achieving a record price per carat for a colourless diamond. The 69.4-carat Taylor-Burton diamond, bought by Burton in 1969, is now owned by Robert Mouawad and has not been publicly displayed since 1979.
A Legacy That Continues to Shine
Elizabeth Taylor's passion for her jewels was well-known; they were not kept hidden away. Photographer Catherine Opie noted in 2015, "Her jewelry wasn't locked away. When Elizabeth had insomnia, she'd often go into the jewelry closet to make different arrangements to look at." It is fitting, therefore, that her collection continues to be admired and worn.
This tradition extends beyond Margot Robbie. Last year, Kim Kardashian attended a Balenciaga show during Paris Fashion Week adorned with Taylor's diamond chandelier earrings, valued around $400,000 and originally a gift from Mike Todd, paired with a multi-carat diamond necklace from Burton.
Taylor's influence endures. From her rise as a child actress in the 1940s to her iconic roles and her status as a humanitarian, she left an indelible mark. Her legacy was further celebrated in a 2019 three-day auction by Julien's Auctions and the House of Taylor, which sold film costumes, designer clothing from houses like Dior and Gucci, and personal memorabilia. Elizabeth Taylor passed away in 2011 at age 79 from congestive heart failure, but as Margot Robbie's recent appearance proves, her legendary style and priceless collection continue to captivate the world.
