Elizabeth Taylor, Andy Warhol

Christie's Images LTD. 2011

If you haven't checked out the Elizabeth Taylor auction, you're seriously missing out. 

Our favorite Hollywood broad was not only a jewelry collector and activist, but a total fashionista as well. 

And while the jewelry may be selling for millions, there are tons of items up for auction (handbags, clothing, an artwork are all noteworthy), so it doesn't take a million bucks to own something treasured by Taylor. 

Since we have a special place for Elizabeth in our hearts, we had to check out the items and report back to you: what's affordable, what's outta this world and who are the latest celebs looking to buy?

While we originally gushed over the jewelry and caftans on display at the exhibition, we're equally excited to dish on the fashion collection. Think dresses, handbags and jewelry (not gems) from the 1970s to 2000s, showcasing not only Ms. Taylor's signature style, but also fashion history as a whole.

And while some of the most extravagant items sold last night—Elizabeth's pearl pendant, La Peregrina, went for a casual $11.8 mil!—some famous faces were in the audience for the Legendary Jewels Evening Sale as well. 

Our insider dished Michael Kors and Jennifer Tilly were both in attendance, and we're secretly hoping Michael's drawing inspiration for his next line (her feather handbags are to die for). 

But if you still can't make it to NYC, we're thrilled to tell you bidding's also underway for the online auction, where some items start for just $100. 

As for the rest of the auction? Bidding on fashion and accessories starts tomorrow, followed by decorative art and film memorabilia on Friday. 

But of course, we're holding out for the Andy Warhol painting since it's only our favorite Elizabeth Taylor piece ever—and will be auctioned with the artwork in February.

And like we told you before, a portion of the proceeds from the auction go to the Elizabeth Taylor Foundation, which continues Elizabeth's fight against AIDS. 

It's all so Elizabeth—wildly fabulous and perfectly charitable. 

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