Did somebody mention the word recession? At least when it comes to buying luxury goods and items with a glamorous legacy attached to them, there is no dearth of those ready to pay top dollar. The auction house Christie’s is smiling all the way to the bank at the stratospheric sale prices fetched by jewels owned at one time by actress Elizabeth Taylor. Pearls, rubies and rock-sized diamonds, each one lovelier than the other and with a history attached to them, went for several times their reserve price, belying expectations that the rich were conserving their cash.
Clearly then, there is a fair amount of money sloshing around. Buying a necklace for nearly $12 million is not for your everyday garden variety millionaire. The buyer’s desire to be anonymous may well be driven by the criticism of the one per cent who came out in large numbers to occupy Wall Street. But he or she will surely be purring with delight at this latest acquisition.
More than just spending lucre, though, the jewellery’s association with one of the most famous faces of the last century would have added that extra bit of lustre. The stories attached to the pieces — some were given by her equally well known husband Richard Burton — give them that special meaning. The lady who steps out wearing the necklace will undoubtedly feel like a Hollywood star herself. What is a few million here and there to fulfil that kind of desire?