HOLLYWOOD legend Elizabeth Taylor’s “Taj Mahal” diamond could be yours — for the right price.

    The extravagant 40th birthday gift given to the actress by her then-husband Richard Burton will once again hit the auction block following a recent settlement in the bitter legal battle between Liz’s estate and Christie’s auction house.

    New court documents obtained by Daily Mail Online show that earlier last week the two parties reached a deal to dismiss all claims against each other and the “Taj Mahal” diamond will be put up for auction, fetching, it is hoped — at least US$8.8 million, the auction price last time around.

    The gem sold for US$8.8 million in December 2011 at an auction of the legendary star’s jewelry collection in New York. But Chrisrie’s canceled the sale at the buyer’s request and asked for the US$7.2 million paid to Taylor’s estate. It refused.

    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.”(SD-Agencies)