Kim Kardashian Pays BIG MONEY for Elizabeth Taylor's Jewelry

Kim Kardashian just dropped $65k to outbid a gang of serious jewelry nuts for 3 unbelievable jade and diamond bracelets that used to belong to Elizabeth Taylor ... TMZ has learned.

Taylor's entire collection of rare and expensive jewelry was auctioned off in NYC this week for a whopping $116 MILLION ... and Kim was one of the bidders.

Sources close to KK tell TMZ ... Kim idolized Taylor -- especially after Kim did a magazine interview with Liz for a project shortly before her death. So when Kim saw LT's 3 jade and diamond Lorraine Schwartz bangle bracelets on the auction block, she snatched 'em up for a cool $64,900.

We're told Kim believes jade harnesses energy ... and now that she owns the bracelets, KK feels she will share a deeper connection to the Hollywood icon.

Kim is not in possession of the jewelry yet ... but she's expected to get 'em sometime in the next few days.