Legendary actress Elizabeth Taylor has announced plans to launch a new line of signature jewelry called House of Taylor.

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Taylor said the line of bling will range from $3,031 for modest pieces to nearly $1 million for the more lavish creations, Hellomagazine.com reported Monday.

"I knew that I wanted to share my passion for jewelry with others so that they could truly enjoy the thrills and pure happiness that jewelry has brought to my life," the 72-year-old Oscar-winner said.

The "Cat on a Hot Tin Roof" star has long been renowned for her love of jewelry, with a collection including a 33-carat Krupp diamond, a 69-carat pear-shaped diamond she was given by actor Richard Burton, and the famed La Peregrina Pearl.

Jack and Monty Abramov of Mirabelle Luxury Concepts have joined with Taylor to produce the range.