La Peregrina, a Cartier pearl, diamond and ruby necklace given to actress Elizabeth Taylor by Richard Burton.

Elizabeth Taylor’s jewelry collection fetched a record-setting $115 million, at an auction of gems and other memorabilia amassed by the late actress.

The pearl, diamond and ruby necklace, known as “La Peregrina,” purchased at auction for $37,000 in 1969 by Richard Burton for Elizabeth Taylor reached the world-record price of $11,842,500. It was estimated to sell for $2 million to $3 million. The price surpassed the previous auction record for a pearl, set in 2007 at Christie’s auction house in New York City with the sale of The Baroda Pearls for $7,096,000.

Among the other items of Elizabeth Taylor’s jewelry was a diamond bracelet given to her by late singer Michael Jackson, with an estimated sale price of $30,000 to $50,000. It sold for $194,500.

As a big jewelry lover, she had pieces from some of the most famous names in the jewelry world, including Cartier, Van Cleef & Arpels and Chopard, in her collection.

Other sales of Taylor’s art, clothing and memorabilia will be held later in the week. An online-only sale of some items runs until Saturday (17.12.11). Part of the proceeds will go to The Elizabeth Taylor AIDS Foundation, which she established in 1991 to help people living with AIDS. Take a look at the Elizabeth Taylor’s jewelry, which will definitely take your breathe away.

An antique diamond tiara from her third husband Mike Todd.

A diamond ring also given by Burton.

A Bulgari Emerald necklace.

Snake/bracelet watch.

Ruby and diamond jewelry.

Elizabeth Taylor's jewelry fetched a record-breaking $115million.