A platinum brooch worn by silver screen icon Katherin Hepburn has commanded a huge $120,000 fee at auction.

The piece, which was given to her by then-boyfriend Howard Hughes, went for six times its estimated price, underlining once more the popularity of the precious metal in the jewellery sector.

Adorned with diamond and sapphire, the platinum brooch was originally expected to earn around $20,000 by vendors Sotheby's.

"We are absolutely thrilled with the results achieved for Miss Hepburn's estate - a testament to her enduring legacy," Leila Dunbar, Director of Sotheby's Collectibles Department, told Reuters after the sale ended Friday.

"It was her wish to give the public a chance to own something of hers, and the immense power of her celebrity and worldwide appeal had a significant impact on the bidding, driving prices to many multiples of their estimates."

The brooch holds great appeal as a celebrity memento, but also reflects the wider popularity of platinum jewellery among contemporary Hollywood stars.

Earlier this year the famous designer Neil Lane decked out Golden Globe winner Charlize Theron in platinum and diamond bracelets, while Jennifer Garner sported platinum and diamond cuff bracelets.

Only last week Jennifer Lopez donned a platinum and diamond necklace designed by the same artist, in a total jewellery ensemble reportedly worth around $7 million.