Jewelry belonging to legendary Egyptian singer, Umm Kulthum, sold for $118,000 at a Christie's auction in Dubai Tuesday night in a sign that the emirate's economic woes haven't crimped the excesses of its wealthiest millionaires.

An Indian multi-strand pearl and turquoise necklace sold for $80,500, well over its estimated price of $15,000 to $25,000. The buyer was a private Middle East collector who wished to remain anonymous.