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made a bold style statement at the Wuthering Heights premiere on Wednesday when she hit the red carpet in one of 's most iconic jewellery pieces.
The Oscar nominee, 35, wowed in a breathtaking couture gown by Schiaparelli, but it was Taylor's Taj Mahal diamond necklace, which is worth a reported $8 million, that truly stole the show.
Taylor's necklace was a gift from her fifth husband Richard Burton 54 years ago on her 40th birthday and it is among the most recognizable pieces in the late Hollywood star's legendary jewellery collection.
Yet it is far from the only dazzling gem that Taylor owned, with her collection selling for an incredible $137 million at auction after her death.
So where did her jewels end up?
While some were bought back by houses such as Cartier and Bulgari, others ended up in private collections and have been lent out to celebrities to parade down the red carpet.
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What happened to Elizabeth Taylor's $137 million jewellery collection? Inside the late star's incredible haul (Taylor pictured at the Academy Awards in 1970)
Margot Robbie made a bold style statement at the Wuthering Heights premiere on Wednesday when she hit the red carpet in one of Elizabeth Taylor's most iconic jewellery pieces
The Oscar nominee, 35, wowed in Taylor's Taj Mahal diamond necklace, which is worth a reported $8 million (left, Taylor wearing the necklace in 1972)
It's fitting that Taylor's jewellery is still on display, given she loved seeing her gems.
'Her jewelry wasn't locked away,' photographer Catherine Opie told People in 2015.
'When Elizabeth had insomnia, she'd often go into the jewelry closet to make different arrangements to look at.'
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Certainly, the Taj Mahal necklace elevated Robbie's red carpet look this week.
The Taj Mahal diamond got its name because it was believed it had belonged to Shah Jahan who commissioned the Taj Mahal monument in Agra in India.
In presenting it to Taylor in 1972, Burton famously quipped: 'I would have liked to buy her the Taj-Mahal but it would cost too much to transport.'
The gem sold for $8.8 million in December 2011 at an auction in New York.
But the buyer later asked for a refund alleging the jewel hadn't actually belonged to a Mughal emperor.
Christie's canceled the sale at the buyer's request and asked for the $7.2 million paid to Taylor's estate. It refused.
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Court documents obtained by Daily Mail Online showed that the two parties eventually reached a deal to dismiss all claims against each other and the Taj Mahal diamond would be put up for auction once more.
The Taj Mahal diamond got its name because it was believed it had belonged to Shah Jahan who commissioned the Taj Mahal monument in Agra in India
Burton also bought Taylor an emerald Bulgari necklace, which Bulgari bought back in 2011 (Taylor is pictured at the 1968 A Flea in Her Ear Paris Premiere)
It was famously worn by Julianne Moore two years later and the jewellery house has since loaned it to other celebrities
Another one of Burton's lavish gifts to Taylor was the La Peregrina Pearl, discovered in 1516, and once part of the Spanish Crown Jewels and worn by royals like Mary I of England
A Cartier ruby-and-diamond necklace was bought back by Cartier at the Christie's auction in 2011, for $3.8 million
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It was originally a gift to Taylor from her third husband Mike Todd, with the actress describing the necklace as 'Like the sun, lit up and made of red fire' (Taylor pictured wearing the necklace in 1958 with Eddie Fisher and Debbie Reynold)
Burton also bought his wife the matching earrings and bracelet from the brand
The 69.4 carat Taylor-Burton diamond was bought by Burton in 1969 and is now owned by Robert Mouawad. It has not been publicly seen since 1979 (pictured wearing the necklace with Richard Burton at the 1970 Oscars)
Another one of Elizabeth's famous gems is the Krupp diamond, later named the Elizabeth Taylor diamond (pictured with Burton in 1968)
It was purchased by the Korean E-Land Group for $8.8 million, setting a record price per carat for a colourless diamond
Last year, Kim Kardashian wore one of Taylor's jewels while attending Balenciaga's Paris Fashion Week show
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The reality star was dripping with diamonds, including Taylor's huge chandelier earrings, which were on loan from jewellery designer Lorraine Schwartz
The stunning diamond earrings were given to Taylor by her husband Mike Todd in 1957, shortly before his death in 1958 (Pictured in Los Angeles in February 1958)
She also wore the multi-carat diamond necklace Taylor had received from Burton
Another one of Elizabeth's famous gems is the Krupp diamond, later named the Elizabeth Taylor diamond.
