Elizabeth Taylor's Jewelry Sells for Record $115 Million

December 14, 2011 Updated Dec 14, 2011 at 12:57 PM EDT

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Elizabeth Taylor's Jewelry Sells for Record $115 Million

December 14, 2011 Updated Dec 14, 2011 at 12:57 PM EDT

According to the New York Times, the extensive jewelry collection of Elizabeth Taylor sold for a record price of more than $115 million at auction on Tuesday night.

The sale price for Taylor's jewels smashed the previous record of $50 million for a private jewel collection, according to the Times story. More than 80 lots of Taylor's jewelery were sold, including a ruby, diamond and pearl necklace that netted $11.8 million, according to the Times.

Read the New York Times story HERE.