Racked is no longer publishing. Thank you to everyone who read our work over the years. The archives will remain available here; for new stories, head over to Vox.com, where our staff is covering consumer culture for The Goods by Vox. You can also see what we’re up to by signing up here.
On Tuesday, Bulgari spent around $20M buying back some of Elizabeth Taylor's jewelry at the Christie's auction. A source says, "Bulgari got a lot of important jewelry, including Taylor’s sapphire sautoir. They put a lot of companies out of the race. The numbers were off the charts." The jewelry company purchased the 52.72-carat cabochon sapphire that was estimated to go for $800,000, tops, for a whopping $5.9M. [NYP]