Last week, during the frenzied bidding for Elizabeth Taylor’s jewels, it was assumed that the competition was among the world’s wealthiest looking to own a piece of glamorous history. It turns out, according to People magazine, that the buying pressure came from strictly promotional demand:
Some of Taylor’s larger baubles ended up selling to companies. The 33.19-carat Krupp Diamond (above), a gift from Richard Burton, reportedly went for $8.8 million to Daniel Pang, a representative of Korean hotel conglomerate E-Land, which plans to display the treasure at its E-World theme park in Daegu, according to the AFP. The heart-shaped Taj Mahal diamond went to a private buyer for $8.8 million, as well. And according to the New York Post, Bulgari anonymously bought back a staggering $20 million worth of jewels, including a 52.72-carat sapphire-and-diamond sautoir for $5.9 million and an emerald-and-diamond necklace for $6.1 million.