Liz Taylor’s diamonds on display

Elizabeth Taylor’s favorite diamond earrings will be among several million dollars of jewels worn by members of the committee for the annual Casita Maria Fiesta gala at their kickoff party tomorrow. Gala Chairman Jackie Weld Drake will be wearing a $1 million pair of earrings owned by Taylor and designed by Italy’s Marina B., one of this year’s Fiesta honorees. What Taylor called her “shaggy earrings” are described as a large cascade of rose-cut diamonds issuing from a gold setting with diamond pave, and hanging from ear lobe to shoulder. Novelist-biographer Weld may have to take a security guard as her date to the party at the Chinese Porcelain Company on Park Avenue. Guests expected at the warm-up for the Oct. 16 gala include co-chairs Aileen Mehle and Prince Dimitri of Yugoslavia plus committee members Steven Aronson, Peter Bacanovic, William Bancroft, Mario Buatta, Arlene Dahl and Marc Rosen, Ann Dexter-Jones, Somers Farkas and Alexander Hitz.