Dame Elizabeth Taylor’s Incredible, Iconic Diamond Ring

Today is the anniversary of the birth of one of the greatest jewelry-lovers of the 20th century: Dame Elizabeth Taylor, the iconic actress and philanthropist. In her honor, we’re taking a closer look today at one of her most fantastic and beloved jewelry pieces: the Elizabeth Taylor Diamond Ring.

The story of Elizabeth Taylor’s tenure as owner of the remarkable diamond begins on May 16, 1968. On that date, Parke-Bernet Galleries on Madison Avenue in New York auctioned off a grand 33.19-carat diamond. Estimated to have been cut in the early years of the 20th century, the diamond was classified as an extremely rare Type IIa stone, almost entirely devoid of imperfections. (You’ll be familiar with two other famous examples of Type IIa diamonds: the Koh-i-Noor and the Cullinan I.) The Asscher-cut stone was set in a ring, nearly overpowering the finger of any woman who wore it. But the woman who would acquire the diamond that day was no ordinary jewelry wearer. Through an agent, Al Yugler of Frank Pollak & Sons, Elizabeth Taylor and Richard Burton bought the diamond for a reported price of $305,000.

Elizabeth Taylor showed off her new ring early and often, even though the jewel had a dark history. Before 1968, it was owned by a woman named Vera Krupp. Born Vera Hossenfeld in Germany in 1910, she had a few things in common with Taylor, notably a string of marriages and a stint in Hollywood. But while Taylor became one of the most famous actresses in the world, Vera became known for something more sinister: her 1952 marriage to the industrialist and convicted war criminal Alfried Krupp. He had been found guilty of using forced labor from Jewish concentration camp prisoners in his factories during World War II. Vera married Krupp in a secret ceremony almost immediately after he was released from prison, and the magnificent diamond ring she owned was reportedly a gift from him, acquired with the family money that had been bolstered by such heinous acts.

Vera divorced Krupp in 1957 and received a large settlement. She moved to the 500-acre Spring Mountain Ranch near Las Vegas, purchased just before her marriage ended. There, on the night of April 10, 1959, she nearly lost the diamond ring for good. While she and her ranch foreman were eating dinner, three men forced their way into the house. They stole the walnut-sized ring off Vera’s finger, plus additional jewelry in cash, before escaping into the night. Once Vera was able to report the crime to police, the FBI quickly became involved, correctly surmising that it was likely that the diamond had been taken across state lines. A cross-country hunt ensued. Getting rid of such a large diamond without drawing notice was a difficult task. After six weeks, the FBI tracked down the suspects in New Jersey and found the diamond in their hotel room. The two smaller diamonds that flanked the big stone were recovered from St. Louis, where they’d been sold to a jeweler.

Vera Krupp was reunited with her diamond, but she had limited time left to enjoy it. She died in Los Angeles in 1967, and the ring was subsequently offered for auction by Sotheby’s at Parke-Bernet. For Elizabeth Taylor, the chance to own the diamond was also a chance to thumb her nose at the likes of Alfried Krupp. She later recalled in Elizabeth Taylor: My Love Affair with Jewelry, “This remarkable stone is called the Krupp diamond because it had been owned by Vera Krupp, of the famous munitions family which helped knock off millions of Jews. When it came up for auction in the late 1960s, I thought how perfect it would be a if a nice Jewish girl like me were to own it.”

The ring immediately became one of Elizabeth’s favorite jewels. She noted that it “sort of hums with its own beatific light.” The late 1960s was a time of rapid jewelry acquisition for Taylor and Burton. In January 1969, Burton bought the famous La Peregrina pearl for his wife at Parke-Bernet. They also purchased the 69-carat pear-shaped Taylor-Burton Diamond at Parke-Bernet in December 1969, setting it afterward as a pendant on a necklace. In the photograph above, Elizabeth wears both the Taylor-Burton Diamond and the Krupp Diamond aboard the couple’s yacht, the Kalizma, in Monaco on November 15, 1969. After pictures were taken by her personal photographer, Gianni Bozzacchi, Elizabeth donned a velvet cape embroidered with a pair of scorpions and headed out to the Scorpio-themed 40th birthday party for her friend, Princess Grace.

After her (first) divorce from Burton, Elizabeth eventually decided to sell the Taylor-Burton Diamond. The Krupp Diamond, however, remained in her collection for the rest of her life. She wore it on camera, at gala events, and even casually at home. In the picture above, she poses with the ring during a photoshoot with her friend, chef and caterer Nick Grippo, at her home in Bel-Air in 1982.

You’ll easily be able to spot the ring in this photograph of Elizabeth as well, taken as she and the designer Calvin Klein attended an amfAR reception in New York in 1986. She’s also wearing the diamond girandole earrings purchased for her in Paris by Mike Todd om 1957. Originally set with paste, Todd surprised Elizabeth by having the fake stones replaced with real diamonds.

Here, Elizabeth is pictured attending a charity dinner in London in 2000. She’s showing off a diamond bracelet given to her by Michael Jackson, but it’s hard to draw your eyes away from that magnificent ring.

After Dame Elizabeth passed away in March 2011, much of her fabulous collection of jewelry was auctioned by Christie’s. The Krupp Diamond–renamed the “Elizabeth Taylor Diamond” by the auction house–was one of the spotlight pieces from the sale. In the press previews for the auction, Christie’s displayed the ring alongside a famous photograph of Burton and Taylor, plus a handwritten postcard. The note was sent by Elizabeth to her parents, Francis and Sara Taylor, at their home in Los Angeles. “Dear Mom & Dad,” she wrote, “Did you read about my ring? It’s fab! Love you both. Wish you were here!” Elizabeth even drew a small sketch of the Asscher-cut diamond on the card.

The Elizabeth Taylor Diamond Ring was auctioned at Christie’s in New York on the evening of December 13, 2011. The sale featured 80 lots of jewelry, including some of the most iconic pieces in her collection. (The Mike Todd Tiara, La Peregrina, the Cartier rubies, the Bulgari Floral Brooch, to name just a few.) The diamond ring was expected to bring between $2.5 million and $3.5 million, but when the hammer fell, the ring sold for an astonishing $8.8 million.

The buyers were representatives of E-Land, a South Korean conglomerate headquartered in Seoul. The group owns fashion retailers, shopping malls, theme parks, restaurants, and hotels, among other businesses. At the time of the purchase, E-Land released a statement explaining that they intended to put the ring on display at their E-World theme park in Daegu.

Stay tuned later today for planned coverage of the royal jewelry worn for the late King Constantine’s memorial service at St. George’s Chapel, Windsor.