Tuesday, December 20, 2011

Liz Taylor Couture Auction Sets Fashion Record

The record-breaking $115 million realized for Elizabeth Taylor's famous jewels didn't come as much as a surprise as the prices realized for her clothing. All of the 67 lots sold, most beating their high estimates and raising $2.6 million for Taylor's AIDS foundation (10 times the estimated total.)

The priciest item was a 1968 Christian Dior gown of beaded silver brocade with a matching purse. It had an estimate of $6,000 but fetched a whopping $362,500. Two other items soared past the $100,000 mark: a Chanel ball gown and cape with shoes and matching bag ($134,500) and a Gianni Versace bolero jacket, beaded with portraits of Taylor in her famous roles ($128,500).

Legendary fashion leader/industry consultant Fern Mallis, who attended the auction, said, "Vintage clothing is like buying art these days. It will only increase in value.”

For more information about the auction, read my blog at http://www.chelsea-girl.com/blog/

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