Supplier BulletinApr 24, 2025
Protect Your Customers and Your BusinessSponsored by the Gemological Institute of America
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
EditorsApr 24, 2025
Q&A: Wolf’s CEO Talks U.S. ExpansionSimon Wolf shares why the time was right to open a new office here, what he looks for in a retail partner, and why he loves U.S. consumers.
IndependentsApr 24, 2025
Longtime Iowa Jeweler Herman Ginsberg Dies at 99 A third-generation jeweler, Ginsberg worked at his family’s store, Ginsberg Jewelers, from 1948 until his retirement in 2019.
Brought to you by
Protect Your Customers and Your BusinessThe risk of laboratory-grown diamonds being falsely presented as natural diamonds presents a very significant danger to consumer trust.
FinancialsApr 24, 2025
Charles & Colvard Delisted From Nasdaq Due to NoncomplianceThe company failed to file its quarterly reports in a timely manner.
Weekly QuizApr 24, 2025
This Week’s QuizTest your jewelry news knowledge by answering these questions.
SourcingApr 24, 2025
Young Diamantaires Transition to NonprofitThe organization also announced its board of directors.
TrendsApr 24, 2025
Amanda’s Style File: So CharmingCharms may be tiny but with their small size comes endless layering possibilities, from bracelets to necklaces and earrings.
MajorsApr 23, 2025
Bulgari Doubles Size of Jewelry Factory in ItalyLocated in Valenza, the now 355,000-square-foot facility includes a new jewelry school that’s open to the public, Scuola Bulgari.
Events & AwardsApr 23, 2025
PDPaola Creative Director Wins FGI’s ‘Rising Star’ AwardPaola Sasplugas, co-founder of the Barcelona-based jewelry brand, received the Fine Jewelry Award.
MajorsApr 23, 2025
David Yurman’s New Campaign Stars Carmelo Anthony, Jaylen BrownThe basketball stars wear men’s jewelry from the “Curb Chain” collection.
MajorsApr 22, 2025
Zales’ Rebrand Takes Playful Approach to Fine JewelryThe Signet Jewelers-owned retailer wants to encourage younger shoppers to wear fine jewelry every day, not just on special occasions.
ColumnistsApr 22, 2025
The PR Adviser: Building Buzz Through Word of MouthLilian Raji answers a question from a reader who is looking to grow her jewelry business but has a limited marketing budget.
GradingApr 22, 2025
Avi Levy Is GCAL By Sarine’s New Chief Growth OfficerGCAL by Sarine created the new role to sharpen the company’s focus on strategic partnerships and scalable expansion.
IndependentsApr 22, 2025
Brinker’s Jewelers Acquires Fellow IndependentThe Indiana jeweler has acquired Scottsdale Fine Jewelers in Scottsdale, Arizona.
Events & AwardsApr 21, 2025
An Exhibition Exploring the History of Cartier Is Now on Display“Cartier: Design, Craft, and Legacy” opened earlier this month at the Victoria and Albert Museum in London.
IndependentsApr 21, 2025
New York Jeweler to Close After 111 YearsVan Cott Jewelers in Vestal, New York, is hosting a going-out-of-business sale.
IndependentsApr 21, 2025
IJO Names New Director of Vendor Relations, Merchandise StrategyIndustry veteran Samantha Larson has held leadership roles at Borsheims, McTeigue & McClelland, Stuller, and Long’s Jewelers.
Events & AwardsApr 21, 2025
Jewelers of Louisiana, Mississippi Jewelers Association to Co-Host ConventionThe two organizations will hold the educational event together this fall in Mississippi.
Events & AwardsApr 18, 2025
Daymond John to Give Keynote at JCK Las VegasThe entrepreneur and “Shark Tank” star will share his top tips for success.
CollectionsApr 18, 2025
Piece of the Week: Dukachi’s ‘Easter Bread’ PendantThe Ukrainian brand’s new pendant is modeled after a traditional paska, a pastry often baked for Easter in Eastern European cultures.
IndependentsApr 18, 2025
Bremer Jewelry to Reveal Renovated StoreThe jeweler has announced a grand reopening for its recently remodeled location in Peoria, Illinois.
MajorsApr 18, 2025
Tiffany & Co. Employees Star in Mother’s Day CampaignThe “Strong Like Mom” campaign features moms who work at Tiffany & Co. and their children.
CollectionsApr 17, 2025
John Hardy, Athena Calderone Partner on Art Deco Decor-Inspired CollectionInterior designer Athena Calderone looked to decor from the 1920s and 1930s when crafting her first fine jewelry collection.
FinancialsApr 17, 2025
Movado Group to Increase Prices to Offset Tariffs ImpactDuring a call about its full-year results, CEO Efraim Grinberg discussed how the company is approaching the uncertainty surrounding tariffs.
Lab-GrownApr 17, 2025
NDC Launches Its Diamond Learning CenterThe free program provides educational content for jewelry salespeople and enthusiasts to learn or refresh their diamond knowledge.
Policies & IssuesApr 17, 2025
Jewelers of America Requests Tariffs Testimonials from MembersThe feedback will be used to prepare other jewelers for the challenges ahead, the organization said.
