Liz Taylor's 50.6-carat pearl set a record yesterday, selling for $11.8 million at an auction in New York.
Christie's International held the event, which included the sale of $115.9 million worth of gems and was the world's most expensive private jewelry auction, Bloomberg's Business Week reported.
The pearl, called "La Peregrina," belonged to eight Spanish kings between 1582 and 1808, it stated.
BBC reported that the auction included the sale of 80 items and took in more than double the record for a single collection.
Taylor's 33.19-carat diamond ring also sold for $8.8 million, it stated. The ring was given to her by Richard Burton, who married the actress twice.
The auction was "one of the most extraordinary sales" ever held there, Christie's Marc Porter told the BBC. He said it is "a testament to the love of Elizabeth Taylor worldwide."
Taylor, who died last year, dressed herself and was known for her unique style, CBS News reported.
"She was so beautiful with that dead black hair, those amazing eyebrows, the violet and gray and green eyes, and the wonderful mouth. It was such a definite look," Meredith Etherington-Smith, fashion curator at Christie's in New York, told CBS News. "She couldn't have -- no one else could be like that."
"She was a true collector, and she looked after her wardrobe the same way she looked after her jewels -- very carefully."
The sale continues Wednesday, when her wedding dresses among other items go on sale.