Elizabeth Taylor for Christie's auction

Christie's has revealed that Elizabeth Taylor's jewels will be auctioned later this year.

The auction house addressed media speculation about a possible auction, confirming that an agreement had been reached with the late star's family to sell the pieces.

It has declined to comment on the value of the collection, but estimates suggest it could be worth over $150m (£94m).

The auction house said in a press statement that it is "most honoured to have been entrusted with the collection of this world-renowned film legend, humanitarian and tastemaker".

The series of auctions will also include items from Taylor's art collection, clothing and other memorabilia. Further details about the timing of the sales will be announced in due course.

Hugh Grant sold a painting of Taylor by Andy Warhol at Christie's in 2007. Purchased for $4m (£2.4m) in 2001, it was sold for $23.7m (£14.5m).

Taylor passed away last month aged 79 from congestive heart failure.

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