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Elizabeth Taylor’s Jewels Hit the Auction Block

Archive Photos/Getty Images(NEW YORK) -- Elizabeth Taylor’s famous jewelry collection, including the huge 33.19 carat Krupp diamond her husband Richard Burton gave her, will go on the auction block beginning Tuesday night at Christie’s in New York City.

Taylor’s jewelry collection alone is expected to sell for more than $30 million, but that’s just the beginning of the auction. The Collection of Elizabeth Taylor will also feature fine art, stacks of Louis Vuitton luggage, movie scripts, costumes and other movie memorabilia.

The auction will run all week. The entire collection is expected to fetch close to $50 million. A portion of the proceeds will go to The Elizabeth Taylor AIDS Foundation.

Copyright 2011 ABC News Radio

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