A diamond bracelet that Elizabeth Taylor received as a gift from Michael Jackson soared past its pre-auction estimate, achieving £118,750 (approximately $146,095) in Woolley & Wallis‘ fine jewelry sale in the U.K. last week.
While the sale price was more than double the low estimate (£50,000 to £70,000), it didn’t quite reach the $182,500 that the bracelet went for in a 2011 Christie’s auction.
Woolley & Wallis said bidding was fierce for the bracelet—which features 27 graduated step-cut yellow diamonds—with collectors from around the globe vying via phone and Internet. Ultimately, a telephone bidder secured the coveted piece.
The bracelet’s connection to two iconic figures, Taylor and Jackson, undoubtedly fueled the bidding frenzy. Taylor, a two-time Academy Award winner who was appointed a Dame in the Order of the British Empire, once said, “I feel as though I’m only the custodian of my jewelry. When I die and they go off to auction, I hope whoever buys them gives them a really good home”—a sentiment that surely resonated with collectors.
Also headlining the Woolley & Wallis auction was a rediscovered Cartier necklace (above) from an Egyptian Revival limited edition. Unseen for a century, the piece sold for £68,750 (around $84,580), significantly exceeding its £20,000 to £30,000 estimate. Woolley & Wallis specialists traced the necklace back to a 1924 advertisement in The Illustrated London News, published during the height of “Egyptomania” following the discovery of Tutankhamun’s tomb.
The necklace was originally designed with a faience figurine and later modified by Cartier to feature an abstract floral arrangement of cabochon rubies. This alteration, specialists believe, reflected shifting fashion trends away from overt Egyptian influence. The piece is one of only a few known examples from that Cartier collection, further adding to its rarity and value.
In general, the auction signaled a healthy market for top-quality, historically significant jewelry. “It was a strong sale, and we are delighted that many pieces exceeded their higher estimates, demonstrating that high-quality jewelry is still in demand and the market is buoyant,” Marielle Whiting, head of jewelry at Woolley & Wallis, said in a statement.
(Photos courtesy of Woolley & Wallis)
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