A collection of jewellery owned by the late Elizabeth Taylor has gone for $116 million at a New York auction.

The sale of 80 items by Christie's was estimated to fetch around $20 million but went for more than double the record amount for a single collection.

Among the standout pieces was a an emerald and diamond necklace by Bulgari, mounted in platinum, which Taylor's fifth husband Richard Burton gave to her when they married for the first time in 1964.

It sold for over $6 million, having been estimated at $1-1.5 million, and was one of several pieces that were given to her by the Welsh actor, with whom Taylor had a well-documented on-off love relationship that saw the pair wedded and divorced twice.

Her iconic 33.19-carat diamond ring, also given to her by Burton, sold for $8.8 million.

A record for a pearl jewel was set with the sale of La Peregrina, a 16th century natural pearl with a history connected to the Spanish royal family and once painted by Velazquez.

Suspended from a 1972 Cartier necklace clustered with diamonds, rubies, and cultured pearls, this sold for $11.8 million.

Several pieces given to Taylor by her friend Michael Jackson also sold for well above their estimates.

All 80 lots were sold and a total of seven records were broken, including the price per carat for a colourless diamond and for a ruby.

Some of the proceeds will go to The Elizabeth Taylor Aids Foundation, which she established in 1991.

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Elizabeth Taylor's Jewels Shatter Records at Christie's $115.9 Million Sale, With Help From Michael Jackson and Richard Burton (14/12/11)

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