The Elizabeth Taylor Diamond, formerly known as the Krupp Diamond, is a 33.19-carat (6.638 g) diamond that was bought by Richard Burton for his wife, Elizabeth Taylor in 1968. The Krupp diamond was one of a number of significant pieces of jewellery owned by Taylor, her collection also included the 68 carat Taylor-Burton Diamond, which was bought by the couple in 1969. The Krupp diamond was sold by Taylor's estate in 2011 for $8.8 million.
The Elizabeth Taylor Diamond is an Asscher cut diamond with a fairly large culet facet, indicating it was likely cut before the 1920s, when culet facets were being phased out. A report (1132411262) dated 9 May 2011 from the Gemological Institute of America states that the diamond is D colour, VS1 clarity; accompanied by a diagram indicating that the clarity may be potentially internally flawless.
There is a supplemental letter from the Gemological Institute of America stating that the diamond has been determined to be a Type IIa diamond. Type IIa diamonds are the most chemically pure type of diamond, and often have exceptional optical transparency. Type IIa diamonds were first identified as originating from India, particularly from the Golconda region, but have since been recovered in all major diamond-producing regions of the world. Famous examples of Type IIa diamonds are the 530.20 carat Cullinan I and the 105.60 carat Koh-i-noor.  The supplemental letter from the GIA is accompanied by a monograph from the Gemological Institute of America which features additional photographs, data collection charts and gemological research which details the rarity of the Elizabeth Taylor Diamond.
Burton bought the Krupp diamond on May 17, 1968 at an auction in New York for $307,000, and presented Taylor with the diamond on their yacht, the Kalizma while it was moored on the River Thames in London.
Elizabeth Taylor wore the Krupp Diamond as a ring, and called it her favourite piece. The Krupp Diamond and other famous pieces of jewellery in Taylor's collection became part of Taylor's image. After Taylor's death, the stone was renamed "The Elizabeth Taylor Diamond".
Taylor often wore her own jewellery including the Krupp Diamond in films, television movies, and personal appearances when she considered it appropriate.
Taylor died in 2011 and the diamond was auctioned at Christie's by her estate on 16 December 2011, having been renamed the Elizabeth Taylor Diamond. It was sold for $8,818,500 (including buyer's premium, $9.28 million as of 2016), to the South Korean conglomerate E-Land, setting a record price per carat US$265,697 for a colourless diamond.
References and sources
- "The Krupp Diamond"
- CNN Larry King Live. "Interview with Dame Elizabeth Taylor". Aired February 3, 2003.
- "Diamond transparency". 2011.
- "Taylor Burton Diamond"
- Kashner & Schoenberger 2010, p. 237.
- "E-Land pays $8.8 million for 33-carat Elizabeth Taylor diamond ring". Joongang Daily. 16 December 2011. Retrieved 29 March 2013.
- Federal Reserve Bank of Minneapolis Community Development Project. "Consumer Price Index (estimate) 1800–". Federal Reserve Bank of Minneapolis. Retrieved November 10, 2015.
- "Once a Star, Always a Star"
- Balfour, Ian (2009). Famous Diamonds. London: Antique Collectors Club. ISBN 978-1-85-149479-8.
- Burton, Richard (2012). The Richard Burton Diaries. New York: Yale University Press. ISBN 978-0-300-18010-7.
- Kashner, Sam; Schoenberger, Nancy (2010). Furious Love. London: JR Books. ISBN 978-1-90753-222-1.
- Kelley, Kitty (1981). Elizabeth Taylor, the Last Star. Simon and Schuster. ISBN 978-0-671-25543-5.