10 Things Rocking the Industry in February

1. AuctionsThere's no denying the stardust that hovered over Christie's New York Dec. 13, when collectors, dealers, and acolytes gathered for the sale of Elizabeth Taylor's treasure trove of jewelry. The tone of the sale—the first in a four-day series featuring the actress' jewelry, haute couture, decorative arts, and film memorabilia—was set by the very first lot, a charm bracelet that achieved a stunning $326,500. But that was ­nothing compared with the evening's top lots: the $11.8 million La Peregrina pearl, the $8.8 mil­lion Taj Mahal Diamond, and the $8.8 million Elizabeth Taylor Diamond. (One observer called the scene "a souvenir hunt for very wealthy people.") When results from days one and two of the Legendary Jewels sale were tallied, the total was $137,235,575—officially the most valuable ­jewelry sale in auction history. "We valued every item on its intrinsic value,"

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