A 33.19-carat diamond ring once owned by the late Hollywood star Elizabeth Taylor sold for 10.1 billion won ($8,818,500) to Korean conglomerate E-Land Group at a Christie’s auction in New York on Tuesday.

The ring was given to the late actress by her fifth husband, actor Richard Burton in 1968. He had purchased the ring through an auction for $ 300,000 at the time.

The ring was estimated to sell for $2.5 million to $3.5 million during Tuesday’s auction.

Taylor, who died of congestive heart failure in March at age 79, starred in Hollywood classics including “Giant” (1956), “Suddenly, Last Summer” (1959) and “Who’s Afraid of Virginia Woolf?” (1966).

The two-time Academy Award-winning actress was also known for her love of jewelry, collecting pieces from the world’s most famous jewelry makers, including Cartier and Van Cleef & Arpels. At her death, her collection was reportedly worth $150 million.

Aside from the ring purchased by E-Land Group, “La Peregrina,” the legendary pearl necklace once worn by European royalty and eventually owned by Taylor, sold for a record price of $11.84 million. It had been estimated to sell for $3 million. The necklace had also been given to Taylor by Burton in 1969 ― he bought it at auction for $37,000.

Meanwhile, E-Land Group announced the newly purchased diamond will be exhibited at “E World,” an amusement park in Daegu.

The group, which has been largely engaged in retail malls and the fashion apparel business since its foundation in 1980, last year took over the amusement park located in Daegu and renamed it “E World.” It is pushing for launching two more theme parks in the Seoul area and on Jeju, focusing on attracting more foreign visitors with engaging programs.

By Claire Lee (dyc@heraldcorp.com)