In certain times past, she might have been tempted by more caloric fare, but these days, when she's in reasonably svelte shape, Liz Taylor has reverted to form: What she really loves are carats.

Bearing that in mind, her longtime buddy, free-marketeer Malcolm Forbes, recently dropped by Taylor's Bel Air home and laid some presents on the gal who has everything. The baubles Forbes came bearing included a pair of dazzling diamond-and-ruby earrings (for a rumored $250,000), a piece of trendy artwork and, just to make sure all the bases were covered, a chocolate-frosted cake fashioned after a Fabergé egg.

The occasion? It wasn't a birthday, anniversary or even Christmas. It was just that Liz had a lunch date with Forbes, who'd flown into L.A. aboard his personal plane, The Capitalist Tool, for his niece's wedding. Liz autographed Forbes's own recently purchased Warhol silk screen of her: "Dearest Malcolm, All my love, Elizabeth."

Forbes admitted that the cake, shaped after one of the Imperial Fabergé eggs in his collection, "cost almost as much as the real thing." Even so, the ever-courtly gentleman received adequate return on his investment. "It's always an occasion," he said, "to be with Elizabeth."