Elizabeth Taylor pearl sells for record sum

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A necklace containing a huge 16th-Century pearl once worn by European royalty has sold for a record price of more than $11m (£7.1m).

The pearl known as La Peregrina is part of a collection that was owned by the late Dame Elizabeth Taylor, which is being auctioned at Christie's in New York.

Mounted on a diamond Cartier necklace, its selling price had been estimated as up to $3m but the bidding vastly exceeded that to reach $10.5m - more than $11 when fees are taken into account.

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