They say jewelry is a bad investment but it depends on what you buy. Calvin Klein, who bought jewels belonging to the Duchess of Windsor for Kelly Klein made quite a return on his investment. The collection of natural pearls the couple put up for sale brought in $4.82 million, far above the $3.1 million high estimate. I hope whoever bought it wears it, wearing pearls helps them keep their luster.

The jewels were part of the Sotheby's Magnificent Jewels auction in New York Tuesday in which 366 lots went for a total for $48.827 million. Other expensive pieces included a pair of Harry Winston diamond pendant-earrings that sold for $3.961 million and a pear-shaped 32.16 carat Harry Winston diamond ring which went for $3.289 million. The Jewels for the Jungle auction also did well bringing in a total of $1.181 million for the World Wide Fund for Nature.

The Magnificent Jewels auction at Sotheby's on December 4 offers the chance to bid on three lots of natural pearl and diamond jewels from the collection of Kelly and Calvin Klein. The pieces are a necklace, pendant and ear clips that were purchased by Calvin for Kelly at Sotheby's 1987 auction of "The Jewels of the Duchess of Windsor" in Geneva. The single-strand natural pearl and diamond necklace by Cartier once belonged to Queen Mary who gave it to the Duke of Windsor. It consists of 28 natural pearls, bulbous and luminous, with a diamond clasp. The natural pearl and diamond pendant contains a 190.6-grain pearl topped by diamonds. The Kleins are also selling a pair of natural black and white pearl and diamond ear clips by Van Cleef and Arpels. The three lots have an estimated value of $2.2 million-$3.1 million. In the press release, Kelly Klein is quoted as saying that she hopes the pearls will be "given again, as they have been in the past, as a gesture of love and worn often and proudly.