Nearly every item sold for astronomically more than it was estimated as bidders at Christies battled phone-in buyers from around the world. Throughout the course of the night, six other world records were broken, including the price paid for a pearl jewel and an Indian jewel as well as the per carat price for a colorless diamond and a ruby.

That Indian jewel, the Taj Mahal jewel – a diamond and ruby pendant with a gold Cartier chain — sold for $8,818,500, 20 times its estimated worth. Given as a gift on her 40th birthday in 1972 by Richard Burton, the heart-shaped diamond was originally a gift from the 17th century emperor Shah Jahan to his favorite wife, Mumtaz Mahal. When she died, the emperor constructed the Taj Mahal to serve as his beloved’s final resting place.

Estimated at $2.5 to $3.5 million, but going for the same $8,818,500 was the famed Elizabeth Taylor Diamond, another gift from Burton. At 33.19 carats, that bauble isn’t so much a piece of jewelry as a planet harnessed onto a ring. Taylor wore it nearly every day and encouraged others to try it on so they could “see all the colors of the rainbow.”

It shouldn’t come as a surprise that Liz Taylor and the Duchess of Windsor were good friends. Both had an appetite for precious stones and whenever the Burtons were in Paris they would pay a visit the duke and duchess. All the while, Taylor admired the Duchess’s Prince of Wales Brooch, three feathers made of diamonds and bearing the royal insignia. When that item came to auction in 1987, Taylor, bidding for the first time at an auction, snatched up the brooch, which in turn was sold at the star’s auction for $1,314,500.

The biggest lot of the night came in the form of La Peregrina, a 16th century pearl on a pearl, diamond and ruby mounting courtesy of Cartier. History has it that the pearl was found by a slave in the Gulf of Panama and was subsequently turned over to the Spanish royal family — Phillip II gave it as a gift to his wife, Mary I of England — where it remained for several hundred years. Burton bought La Peregrina for Taylor as a Valentine’s Day present, but on account of its weight, it often fell out of its setting. At one point, Taylor lost it in their suite in Las Vegas only to find it in the least likeliest place: “I just casually opened the puppy’s mouth and inside his mouth was the most perfect pearl in the world. It was—thank God—not scratched.”

Thank god indeed. La Peregrina, estimated at $2 to $3 million, sold for $11,842,500. Here, we always thought it was her white diamonds that always brought her luck, but turns out Dame Liz’s rubies and pearls had a charm all their own. [Telegraph, Forbes, Vanity Fair]

Over 950 pieces of fine and costume jewelry, accessories, and decorative objects will be available for perusal and possible purchase – from Chanel, Christian Dior, and Cartier jewels; to handbags and shoes from Christian Louboutin, Fendi, Louis Vuitton, and Prada. Though of course that’s just the tip of the diamond-encrusted iceberg.

The full collection goes on view November 18, but a preview is available through Christies and e-tailer Moda Operandi. Then come Decmber 3, interested parties can begin to register for the auction itself.

So this holiday season, show that you really care with a gift from the vaults of Hollywood royalty. And instead of wrapping said gift and placing it under the tree —  storm into the room Christmas morning, rip off a pair of diamond earrings, plunk them in front of the giftee and breathlessly say, “These have always brought me luck.” Then clutch your figurative pearls and disappear as mysteriously as you came. It’s what Liz would have wanted. [Hint Mag]

The one who’s been shamed the fashionably worst wins a $2,500 shopping spree at Cynthia Rowley and a styling session.

Meanwhile, cover your beauty boo-boos in style. Cynthia Rowley collaborated with Band Aid to create a way to cover your cuts without trying to blend in. Make your injury a statement piece, even more of a conversation starter than it already was.

How do you win?

Head to the Band Aid Facebook page and go to the Fess Up Contest. They’ll explain how to submit your fashion horror story.

Break a leg! I mean, good luck.

Then check out the Glambulance on Fashion’s Night Out. A little birdie told me it would be on 5th Ave between Cartier and Ferragamo. See you there.

Also available for public consumption will be the Cartier Halo tiara and the Robinson Pelham earrings Kate wore as she strolled down the aisle — and into our collective hearts — to marry Prince William.

And if that wasn’t enough to wet your royal appetite, the Palace will also feature the exhibit “Royal Fabergé,” chronicling the British royal family’s extensive collection of Fabergé pieces  collected over six generations.

Frankly, I was already on board for the McQueen dress — I’m already crash dieting to fit into it should my plan to pilfer it from the Palace succeed — but the Fabergé is the egg-like cherry on top. [WWD]

The Art Basel show space was designed by Japanese filmmaker and TV presenter Beat Takeshi Kitano. He also doubles as a comic and TV celebrity.

Excellent move, Cartier! This is the perfect space for showcasing cool contemporary art.

Last week I went on a date with Cartier. The notorious luxury jewelry and watch company hosted a small dinner party at The Lion to introduce the new Love Collection.

Bloggers, press, and industry influencers had the pleasure of sipping champagne and getting a first hand look at the new Love collection, which consisted of rings, necklaces, and the ever so famous bracelet.

Created for Cartier in the 1970s in New York by the designer Aldo Cipullo, this bracelet embodies a bond of freedom that can be worn directly on the wrist, a band that he can exchange with her and she with him.

Pierre Rainero, an esteemed member of the Cartier team for the past 26 years, who is currently the brand’s Image, Style and Heritage Director, flew in from Paris for the event. He greeted guests and personally answered questions about the brand, the new collection, and what embodies luxury.

Not only have I always adored Cartier, my latest crave is a piece of the Love collection. I don’t even have a preference, it’s all so gorgeous…and my birthday is in exactly 25 days!

Here’s a sneak peak of the the Best Red Dress designer that will be reviewed next. Can you guess who this gorgeous red rose hair clip is by? We’ll tell you in the review tomorrow! Stay Tuned!

The Best Red Dress

LINK LOVE:Cartier Perfume – Stay Tuned for Designer – The Best Red Dress

Become a FashionIndie.com contributor. Subscribe to Envy.

Before I even get into this, I want to inform you that I am only posting this due to prior “conversations” with the illustrious Daniel Saynt and a certain feisty Saks accessories buyer friend. It was a few weeks ago in LA when Mr. Saynt hastily brought up the idea of watches being a failing technology over a (disproportionately) shared bottle of vodka. As lines where drawn in the virus infested hotel carpet, Daniel took the side of watches turning into wrist equipped smart watches (ie image above) and our Mighty Mouse-esque Saks companion, Daniel’s loving wife Rebecca, and myself defended our classic “tick and tock” type watches.

While Daniel may be right that the watch is evolving, I stand my ground with my opinions. This watch is rediculous and doesn’t look very cool either. So shall we hold a vote? This Blackberry watch or a Cartier? You tell me, I’m with the old school!

Link

What if you were stopped on the street and someone offered to buy everything you owned? What would they find? Would the items on your person truly represent who you are…your beliefs, political stance, goals, religious affiliation, or values or would they find random inconsequential items that somehow found their way inside your pocket or purse.

Liu Chang’s exhibit, Buy Everything on You(2006-2008), offers such a snapshot into modern Chinese culture. The artist approached people on the streets and offered to buy everything on their person.

The exhibit consists of all of the items that Liu Chang purchased from individuals on the street placed on a white table. What was most striking was the prevalence of western culture that had been appropriated by the Gen-Y individuals Chang choose for this project.

There was a the usual proliferation of western cultural hallmarks such as denim jeans, cotton t-shirts, sneakers, and cell-phones, as well as certain items, like seaweed, personal tissues, and Chinese currency that serve as place markers and reminders that these individuals were not your average American suburban teens, but rather represented a new Chinese identity forged from a communist country whose current wealth is the result of capitalist enterprise.

A new China that is intent on capitalizing on consumers’ needs and desires for new things and supplying the West’s ever-growing demand for quick, cheap, and disposable fashions. Most interesting, is that Chang chose a canvas which showcases both contemporary consumer proclivities as well as outlines the social and personal forces that help us to define ourselves—our clothing.

These new millennial individuals have much more freedom of personal expression than their ancestors living under the dictate and rules of Mao Tse-tung. In this era of communist China, citizens were expected to dress in uniformity wearing clothing which showed no difference in rank or gender, consisting of a military-style tunic-like jacket, short trousers, and cloth-peaked caps. Dress was used to express a national rather than individual identity.

Today, a rapidly growing upper and middle class seeks to enhance its identity and quality of life with luxury products. Much of Chinese spending is driven by people’s desire to enhance their own social status and visibility by an association with famous brand names. In recent years, it has not been uncommon to see owners of a new suit conspicuously “forget” to remove the brand name and price tag that revealed the maker and high price of their new apparel.

Also fueling this demand for luxury products is that China now has an entire population of young, affluent males, called Little Emperors, who have grown up during the one-child only policy and thus, have been afforded many more liberties from their parents as only children.

Recognizing both China’s demand and ability to purchase these designer items, luxury brands, such as Prada, LVMH, and Armani, have and continue to scout new locations to open boutiques in China. Analysts predict that, as China’s average per capita income grows, it will become the world’s second-largest purchaser of luxury goods by 2015 and accounting for the sale of 29 percent of all luxury good sales worldwide(http://www.wikinvest.com/concept/Luxury_Consumption_in_China ).

Many more designer brands are looking toward the Far East as the demand for luxury products face sharp declines in Western Europe and the United States. In sharp contrast, the West is reworking the paradigm for luxury, which involves less the acquisition of high end products and instead centers on the luxury of intangibles (time, freedom, and personal satisfaction).

The recession has now forced us all to stop, pull out the things on our person, and truly question if we really are only the sum of our possessions.

Want More? Visit Fashion Speaks

LINKAGE: WeIndie

Sale will be held at the Carlton Hotel (88 Madison Ave  near 28th street) :

May 7th: 10AM-8PM

May 8th: 10AM-6PM

May 9th: 10AM-6PM

Thanks NY Mag!

Samantha Ronson (Who should definately be on the next season of Tila Tequila) recently bought Lindsgay Lohan a $22,000 Cartier ring for her 22nd birth day. I wonder if the price had anything to do with age or if that was just irony at its finest? Regardless, $22,000 is not worth having to wake up next to that drowned out zombie face everyday. 

Can someone let Kimora know that she’s not 20 anymore and her ass doesn’t belong out in the open?

You know what, I’ll do it. Kimora, stop.

Velor = Not Cute

Not horrible, but not iconic. You’re failing us Chloe.

Two words: Boob sag.

Can you please wear dresses that cover your face for now on?

HIllary Duff is still invited to shit?  How did that happen?

Too long, too wide, too covered in Joel Madden jizz.

I heart Rosario Dawson. No hate, just love.

We thought Mischa Barton proved that fringes look awful, but this no name celebrity secures the point.

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