CollectionsAug 14, 2025
In Midst of ‘Sardine Girl Summer,’ Pippa Small Looks to ‘Flounder Fall’Her new “Ocean” collection was inspired by Myanmar’s traditional articulated fish jewelry, with depictions of flounder, catfish, and more.
AuctionsAug 12, 2016
Christie’s gets sued by Elizabeth Taylor’s trust
The Sothern Trust has accused the auction house of cancelling sales from the record-setting sale of the late actress’s jewelry without good reason and not paying the trust for other items that were sold.
Last week, The Sothern Trust, the trust for the late actress, filed a lawsuit in federal court in Los Angeles against New York-based Christie’s Inc., accusing the auction house of cancelling sales from the auction without good reason and not paying the trust for other items that were sold.
At the heart of the lawsuit between the two parties is the sale of the “Taj Mahal Diamond,” the third highest-grossing lot of the auction, which remains the most valuable jewelry sale in auction history.
An anonymous buyer paid $8.8 million for the jewel, a heart-shaped diamond set in a jade pendant, later hung on a gold and ruby chain designed by Cartier. The diamond is inscribed with the name of a wife of a Mughal emperor.
According to the lawsuit, filed Feb. 24 in U.S. District Court for the Central District of California, Christie’s canceled the sale when the buyer balked because they claimed the diamond was not from the Mughal period.
Taylor’s trust, however, contends that the auction house wasn’t obligated to do so and, in fact, shouldn’t have because it had an obligation to the trust not to cancel any sales from the Taylor auction unless it “reasonably” believed it was going to get sued.
“Christie’s never warranted or guaranteed the age of the diamond … including its believed Mughal origins,” court papers state. “Christie’s warranted only that the diamond was an ‘Indian’ diamond, a statement that … the buyer did not dispute.”
While the auction house has in the past “consistently (and successfully)” stood by sales when the buyer’s claim fell outside the scope of its warranty, Christie’s did not do that in this case because it wanted to “appease the buyer” who is an “important customer” of the auction house, Taylor’s trust alleges in the lawsuit.
The trust admits that it has declined to give Christie’s back the $8.8 million from the now-canceled sale of the Taj Mahal Diamond, which it said it believes the auction house still has.
Christie’s, in turn,
has withheld $2.9 million for the sale of an emerald and diamond ring by Bulgari in an attempt to “strong-arm” the trust into returning the proceeds from the Taj Mahal sale, the lawsuit states.
The suit goes on to list five other items, including a necklace and ear clips by Ciner that Christie’s allegedly sold but hasn’t paid the trust for yet, along with the sale of a Bela Kadar painting that belonged to Taylor that was “cancelled without explanation” and returned to the trust, and proceeds from the sale of catalogs and signed copies of My Love Affair with Jewelry that were never remitted to the trust.
In a statement issued after the lawsuit was filed, the New York-based auction house did not directly address any of the trust’s claims but pointed out that it presided over an auction that raised more than $183.5 million for the beneficiaries of the trust, Taylor’s friends and family.
“This suit stems from Christie’s seeking the return of a small portion of proceeds due to the cancelled sale of a single item from the 1,800-lot collection. Christie’s looks forward to a speedy resolution of this matter,” a spokesperson for the auction house said.
The trust is asking the court to either find that it doesn’t have to return the Taj Mahal Diamond proceeds to Christie’s, or to order the auction house to return the diamond to the trust, and for damages in relation to the other items listed in the lawsuit.
More on Auctions
The Latest
MajorsAug 14, 2025
Casio America Names New CEOLongtime Casio executive Yusuke Suzuki is the new president and CEO of Casio’s U.S. subsidiary.
SourcingAug 14, 2025
West Coast Orgs to Host Trading Event, Mixer in LAThe full-day sourcing and networking event, slated for Aug. 18, will be followed by the fifth annual Mega Mixer Summer Soirée.
Brought to you by
Taking the Moment Head On: How Rio Grande Champions the Present & Future of Fine JewelryAs a leading global jewelry supplier, Rio Grande is rapidly expanding and developing new solutions to meet the needs of jewelers worldwide.
TrendsAug 13, 2025
Cristiano Ronaldo Proposes With Gigantic Oval-Cut DiamondModel Georgina Rodríguez received a rock of an engagement ring, with her diamond estimated to be 35 carats, experts say.
Weekly QuizAug 08, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingAug 13, 2025
ICA Names 2025 Board of DirectorsThe board elected 9 new directors at its recent ICA Congress in Brazil.
TrendsAug 13, 2025
Colorado Jeweler, Whiskey Maker Collab on Ring GiveawayThree winners will receive a custom ring from Honest Hands Ring Co. inlaid with a piece of history from Denver-based distillery Stranahan’s.
Brought to you by
Investing in the Next Generation of Bench JewelersThe Seymour & Evelyn Holtzman Bench Scholarship from Jewelers of America returns for a second year.
SurveysAug 13, 2025
These Are The 25 Hottest Retailers, Says NRFJD Sports and Wawa were among the fastest-growing retail companies in the U.S. last year.
SourcingAug 13, 2025
Columbia Gem House Launches Winza Sapphires, RubiesThe new inventory, all untreated, features vibrant hues and unique bicolor combinations.
SourcingAug 12, 2025
Gemfields Sells Fabergé for $50MAcquired by a tech investor, the historic brand will continue to focus on jewelry, accessories, and timepieces.
Policies & IssuesAug 12, 2025
Higher Tariff on Chinese Imports Paused for 90 Days, Trump SaysPresident Donald Trump issued an executive order extending the pause on higher tariffs to November as negotiations with China continue.
CollectionsAug 12, 2025
Jacquie Aiche’s New Collection Harnesses the Energy of the ThunderbirdThe “Thunderbird Slab” collection features a thunderbird motif as a symbol of power, protection, and boundless possibility.
ColumnistsAug 12, 2025
Creative Connecting: How to Take a Better HeadshotColumnists Jen Cullen Williams and Duvall O’Steen share tips on how to elevate your professional image.
CrimeAug 11, 2025
Man Convicted of First-Degree Murder in Death of Colorado JewelerPeter Damian Arguello, a jeweler in the Denver suburb of Wheat Ridge, was found dead inside his store in November 2023.
IndependentsAug 11, 2025
Lisa Bridge to Depart Ben Bridge JewelerThe retailer, owned by Berkshire Hathaway, is becoming part of the Berkshire Hathaway Jewelry Group with Helzberg.
Events & AwardsAug 11, 2025
Bethenny Frankel to Give Keynote at CBG’s Experience ShowThe Continental Buying Group’s 2025 Tampa Experience Show is slated for Sept. 8-10.
EditorsAug 11, 2025
The Colors Expected to Be On-Trend in a Couple YearsAssociate Editor Lauren McLemore recently attended a fabrics trade show where a trend forecaster shared her predictions for summer 2027.
FinancialsAug 08, 2025
Brilliant Earth’s Q2 Sales Up 3% as Engagement Ring Sales RiseThe company raised its full-year sales guidance while noting it has not yet assessed the potential impact of the latest tariff news.
Events & AwardsAug 08, 2025
GJEPC’s Jewellers for Hope Celebrates 10 Years of FundraisingThe organization has raised more than $1.3 million for charity since its inception.
TrendsAug 08, 2025
Piece of the Week: Rahaminov Diamonds’ Bezel BangleThe brand’s latest iteration of a bezel-set diamond bangle features clean lines and a timeless design for a new modern silhouette.
WatchesAug 07, 2025
Bulova’s New Collection Honors Tony BennettThe first watch in the series commemorates his participation in the Civil Rights movement, marching from Selma to Montgomery in 1965.
Lab-GrownAug 07, 2025
Chatham Releases Catalog for Loose Lab-Grown GemstonesThe catalog contains a complete listing of all the loose gemstones in stock, as well as information about the properties of each stone.
TechnologyAug 07, 2025
Rembrandt Charms Debuts New Website, Bird CharmsThe company added a retailer dashboard to its site and three new birds to its charm collection, the cardinal, blue jay, and hummingbird.
Policies & IssuesAug 06, 2025
Tariff on India to Rise to 50%, Trump Says An additional 25 percent tariff has been added to the previously announced 25 percent.
MajorsAug 06, 2025
Claire’s Files for Chapter 11 Bankruptcy AgainThe jewelry and accessories retailer plans to close 18 stores as part of the proceedings.
IndependentsAug 06, 2025
Smith & Son Jewelers to Close 107-Year-Old Location Its Springfield, Massachusetts, store is set to close as owner Andrew Smith heads into retirement.
