Elizabeth Taylor's jewelry collection, including a diamond ring given to her by Richard Burton, has been auctioned off by Christies for a whopping $115 million.

A ruby diamond necklace known as La Peregrina shattered records as it went under the hammer for $11,842,500. Burton had purchased the necklace for $37,000 in 1969 as a Valentine's gift, the Associated Press reported. The previous record at Christie's New York, was $7,096,000 for the sale of the Baroda Pearls.

Another highlight of the event was Taylor's 33.19-carat diamond ring, also given to her by her two-time husband. It was bought by a private buyer from Asia for $8,181,500, according to a Christie's spokesperson, the AP reported.

It's one of the most extraordinary auctions that Christie's has ever had and a testament to the affection for Elizabeth Taylor worldwide, said Marc Porter, chairman and president of Christie's Americas, reports the New York Post.

A heart-shaped Taj Mahal Diamond, which came with a pre-action estimate of $300,000-$500,000, went to a representative of a Korean hotel conglomerate for $8.8 million. The original owner was believed to be Emperor Shah Jahan who built the Taj Mahal in memory of his wife, according to People magazine.

A diamond bracelet given to the actress by Michael Jackson was another big hit, selling for $194,500. Other items that went under the auction hammer included: earrings, pendants, rings and other types of gems.

British-American actress Elizabeth Taylor went from being an early child actress with MGM to a star of Hollywood's Golden Age.  National Velvet, Cat on a Hot Tin Roof, Butterfield, for which she won an Oscar, are among her most famous films.

Aside from her acting career she made headlines for her glamorous lifestyle and tumultuous personal life. She was married eight times.

Taylor was also renowned for her passion of jewelry saying that You can't cry on a diamond's shoulder, and diamonds won't keep you warm at night, but they're sure fun when the sun shines.

Aside from the $150 million in jewelry, Taylor left an estimated $600 million to $1 billion estate before she passed away in March this year due to heart failure.

Additional sales of Taylor's art, clothing and memorabilia will be held later this week and an online sale for some items will take place on Saturday, with proceeds going to The Elizabeth Taylor AIDS foundation, according to the AP.