The painting was included in Christie's auction house sale Wednesday of jewelry and other items from the collection of the late actress, who starred in "National Velvet" and "Cleopatra." A wedding dress worn at her second marriage to Richard Burton sold for over $62,000.
The jewelry portion of the auction fetched over $137 million. Highlights were $11.8 million for a pearl necklace and more than $8.8 million for a diamond ring given to her by Burton. Prices include the buyer's premium.
Other sales of Taylor's art, clothing and memorabilia will be held through the week. An online-only sale of some items runs until Saturday.
Taylor died in Los Angeles in March at age 79.