Laurence Graff Buys The Lesedi La Rona In Deal Of The Century

Graff Diamonds has acquired the 1,109-carat Lesedi La Rona rough diamond in a deal valued at $53 million. It is the world’s largest gem-quality rough diamond to be discovered in more than a century and the largest rough diamond in existence today.

It also may be one of Laurence Graff’s greatest deals in a long career of exceptional negotiations for some of the world’s most valuable and important diamonds. He may have shaved $17 million from its original asking price.

According to a statement from Graff Diamonds, this deal ended in a handshake with William Lamb, CEO, president and director of Canadian mining company Lucara Diamond Corp., which discovered the gem at its Karowe mine in Botswana in November 2015.

Lamb originally tried to sell the diamond in a standalone public auction at Sotheby’s London on June 2016, a very unusual way to sell a rough diamond, which is normally sold privately to dealers who then cut and polished the rough into a finished gem. It had an estimate of more than $70 million. However, it failed to meet its reserve price. The bidding stalled at $61 million.

In the end there are very few people in the world able to buy such a gem and even fewer with the ability to cut it. The top name on both lists is Graff.

“We are thrilled and honored to become the new custodians of this incredible diamond,” Laurence Graff said in a statement. “The stone will tell us its story, it will dictate how it wants to be cut, and we will take the utmost care to respect its exceptional properties. This is a momentous day in my career, and I am privileged to be given the opportunity to honor the magnificent natural beauty of the Lesedi La Rona.”

The Lesedi La Rona was discovered at the Lucara Karowe mine in north-central Botswana. Its size is exceeded only by the legendary Cullinan Diamond, mined in South Africa in 1905. The 3,016.75-carat diamond produced nine major diamonds that are part of the historic Crown Jewels of the United Kingdom, including the Great Star of Africa—considered to be the largest top-quality polished diamond in existence, weighing 530.20 carats.

In addition to its size, the Gemological Institute of America reports that the Lesedi La Rona , which means “our light” in Botswana's Tswana language, possesses exceptional quality and transparency, according to Graff Diamonds statement.

The acquisition follows Graff’s purchase earlier this year of a 373-carat rough diamond that was originally part of the Lesedi La Rona rough, marking a reunion of the two stones.

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Graff Diamonds Reveals Largest D Flawless Heart-Shaped Diamond In The World

The Graff Venus

Graff Diamonds just unveiled “The Graff Venus.” At 118.78 carats, the London-based jeweler said it is the world’s largest D-color, flawless heart-shaped diamond.

This is a diamond that is not only large but is among the purest in color, clarity and cut. The D color grade means it is colorless, the top of the color scale for diamonds. It is flawless, the top of the clarity scale. It is a Type IIa diamond, meaning it is almost or entirely devoid of impurities. They make up between 1 and 2 percent of all natural diamonds.

The diamond also possesses excellent polish, excellent symmetry and no fluorescence—again the very highest accolades a diamond can achieve. 

The Graff Venus was cut from a 357-carat rough diamond discovered in 2015 at the Letšeng Mine in Lesotho, the company said, addition that Laurence Graff, the founder of the London-based high jewelry brand, “knew instinctively that hidden within its depths lay the potential to create diamond history—it displayed an outstanding size, color and clarity of the highest standard.” 

The company added, “A heart shape diamond must be perfectly faceted and entirely symmetrical to ensure a perfect silhouette and exquisite scintillation. The exceptional size of the heart required the development of special tools and new technologies. The process was incredibly risky and tense.”

From discovery to completion, the process of analysis, cutting and polishing the diamond took 18 months.

More than half of the world’s top 20 largest diamonds discovered this century have been cut and polished by Graff. 

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The Best of The Best Jewelry At Baselworld 2015

Fabergé Secret Garden necklace

Baselworld is known as a watch show but it is also one of the best places in the world to see the newest and best in jewelry from around the world, particularly at the luxury end. 

Among the brands that really made an impression this year was Fabergé. Not only with its first Imperial style jeweled egg in nearly a century. I already featured its Pearl Egg but the company exhibited several high jewelry collections reminiscent of the Fabergé of old, including a candy-colored collection of jewels called “Secret Garden (top photo).” Natalia Shugaeva, Fabergé’s head designer, said she wanted to create a collection of jewels that are opulent and refined. She succeeded.

From friends to those who actually work for the brand the word most used to describe the work of Fawaz Gruosi and his high jewelry brand, De Grisogono, is “crazy.” It is meant in the best possible sense. His singular creative designs have won the brand fame throughout the world and this year at Baselworld there were several ultra-imaginative masterpieces on displays. It’s almost become typical to expect the wonderfully unexpected from De Grisogono. Yhe De Grisogono High Jewelry necklace picture is a perfect example in 18k white and rose gold, 12 briolette-cut emeralds, 19 round-cut rubies (approximately 12.66 cts.), 29 marquise-cut white diamonds (approximately 11.01 cts.), 1,366 emeralds (approx. 60.20 ct s ) and 2603 white diamonds (approximately 137.54 cts.).

Chopard unveiled its High Jewelry Collection at Baselworld and even among the selection of jewelry destined for Red Carpet events one piece stood out. An ocean blue ring featuring a 41.57-carat oval shaped paraíba tourmaline from Mozambique and 8.8-carats of diamonds set in a lace-work of 18k white gold.

Georg Jensen and its managing director of jewelry, Meeling Wong, created several collections of refined jewelry that reinterpret the traditional designs of the famed silversmith brand. Among the items that stood out was a collection of pieces in collaboration with colored gemstone mining company, Gemfields.

Graff Diamonds also provided an exceptional jewelry not only in terms of size but in nuanced ways, showcasing several pieces that can be worn in a variety of ways or with clever use of material. The latter could be seen in the diamond tassel necklace pictured above.

Antonini, introduced a number of new collections with what it calls “natural” white gold, which is more like white mixed with a grey or yellow tint. It is used in a matte finished. Meanwhile more traditional rhodium-finished white and black gold is creatively used as a background for rough-textured pavé settings.

Pasquale Bruni introduced a number of colorful items led by Fiori in Fiore (Flowers in Bloom), featuring diamonds mixed with pink sapphires and morganite. 

Roberto Coin made a statement with its steely-eyed Falco (hawk or falcon, take your pick) ring and bracelet.  

Brumani was again as always a great designer of multi-colored stones that reflect the vibrancy of its home country Brazil and this year was no different as with these pastel colored earrings show. 

Like few other brands, Sutra brought color to the party with exceptional gemstones and creative designs as with these turquoise, diamond and gold earrings. 

More color was provided by Yoko London through its pearl-centric designs. 

Spanish brand Carrera y Carrera celebrated its 140th year anniversary with a collection of delicate, hand-made gold pieces. 

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Graff Unveils A ‘Fascinating’ $40 Million Interchangeable Jewelry Watch At Baselworld 2015

The Fascination

Last year for its inaugural Baselworld Graff Diamonds unveiled the $55 million “Hallucination” watch made of 110 carats of fancy colored diamonds.

It certainly was tough opening act to follow but the London-based luxury jeweler came close with “The Fascination,” a "transformable" watch covered in 153 carats of white diamonds (okay 152.96 carats). For those who may have found the Hallucination a little too pricey, this new watch is valued at a mere $40 million.

With the savings comes a bit of a twist. The pear shaped watch dial on the center of the diamond covered bracelet is removable and can be replaced with a 38.13 carat D Flawless pear shaped diamond, cut and polished by Graff. When the center diamond isn’t in use on the bracelet it is placed on a shank of a ring. So a woman can wear a pure diamond bracelet, wear an opulent diamond covered watch with a matching ring, or wear either piece by itself.

The company is calling it “The world’s most valuable transformable timepiece.” Compared to the Hallucination, one might also call it a value.

“The Fascination is an outstanding piece, carefully crafted so it can be worn in a number of different ways--adding a touch of magic to the jewel,” said Laurence Graff, founder and chairman of Graff Diamonds.

The Fascination is being exhibited at Graff’s Baselworld exhibition space, Hall 1.1, Stand D51.

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Graff Vivid Yellow Diamond Made Two Appearances Before Selling for a Record $16.3 Million

It was a long journey for the "Graff Vivid Yellow" diamond but it did eventually find an owner during Sotheby's Geneva Magnificent Jewels and Noble Jewels auction Tuesday.

It was the top lot of an auction packed with exceptional jewels that had to make two appearances before being sold for more than $16.3 million (hammer price, commission and fees), a world auction record for a yellow diamond and for a Graff diamond, according to the auction house.

David Bennett, chairman of Sotheby's Jewellery Division in Europe and the Middle East, stunned the standing room crowd during the evening session of the auction at the Hôtel Beau-Rivage when he pulled the 100-carat diamond with an 11.8 million Swiss franc bid on the block. However, about 15 minutes later the stone suddenly reappeared and bidding reopened. The bidding began at 12.6 million Swiss francs, which was quickly raised to 12.8 million. Bennett then struck the gavel saying it was a good bid. The estimate for the diamond was $15 - $25 million.

After the auction, Bennett explained that the buyer, a women in the front of the room who did not want her identity revealed, asked to have the item returned. He added that something like this does happen occasionally but almost never with such a high-profile piece.

"The eventual buyer of the yellow diamond who was in the room got confused, I think, with her calculations of francs and dollars and came back a few minutes later and said could you re-offer it because we still wanted to buy. It was quite a nice thing to happen," a "happy and relieved," Bennett said.

He further explained that he knew who would be bidding on the piece as there are only a few people in the world capable of paying $15 million for a diamond. He added that the buyer appeared even happier than he was.

Sotheby's Geneva Magnificent Jewels and Noble Jewels auction at the Hôtel Beau-Rivage. Photo credit: Anthony DeMarco

The drama overshadowed a three-session auction where at least seven records were set, according to the auction house. Highlights included:

* The highest total ever achieved for an auction of  jewelry from various owners at more than $141.4 million.

* A 70.33-carat D-color, flawless cushion brilliant-cut, type IIa diamond sold for more than $14.2 million, followed by a round of applause.

A 12.07-carat marquise-shaped fancy pink diamond ring sold for more than $7.2 million, setting a world auction record for a price per carat for a pink diamond at $601,228 US per carat.

* One of the largest round diamonds in the world at 103.46 carats set on a ring by Graff sold for more than $4.8 million.

* A 25.32-carat brilliant-cut, D color, IF diamond sold for more than $6.2 million and $246,710 per carat, setting a world auction record price per carat for a round colorless diamond.

* The last lot of the evening, a ring set with two fancy blue pear-shaped diamonds, one fancy vivid weighing 3.08 carats the a fancy intense blue of 2.83 carats, sold for nearly $6.5 million.

* Jewels from the collection of Flora Sassoon totaled more than $3.3 million, led by a diamond necklace that sold for more than $1.2 million, well above its $700,000 high estimate.

* All 19 pieces from the collection of Madame Picha-Eisenstein sold for more than $1 million, more than double its estimate.

* A Van Cleef & Arpels gold and diamond necklace owned by Jaqueline Auriol sold for $276,203, 12 times is estimate.

There was competitive bidding throughout the evening between those in the room, phone bidders and a few Internet bidders.

One disappointment was that the 31.34-carat "Victory Diamond," named in honor of the Allied victory in World War II, did not sell. It had an estimate of $5 – $8 million.

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Graff Diamonds Receives Queen’s Award For Enterprise

The Graff Diamonds store inside the fine jewelry room at Harrods.

For the fifth time in its history, Graff Diamonds has received the prestigious Queen’s Award for Enterprise, considered by many to be the highest accolade for a British company.

Graff Diamonds is one of the world’s top luxury jewelry and diamond retailers founded in 1960 by Laurence Graff, who still owns the company. The global firm has been recognized by the queen for its sustained increase in international operations over the past three years. It was one of more than 100 British companies to receive the award this year.

“Currently our portfolio incorporates 45 flagship stores spread globally and we plan to continue to expand our network through 2014 and beyond,” said Francois Graff, Graff Diamonds CEO. “We are extremely proud of our British heritage and whilst our global headcount is in excess of 600, our international headquarters, design studios and workshops are proudly located in the heart of London.”

The Queen’s Award for International Trade is granted on the advice of the Prime Minister, following a thorough examination of each application by an Advisory Committee composed of leading representatives from industry,

The awards are conferred by Queen Elizabeth II each year on April 21, her birthday.

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Graff Diamonds Unveils the $55 Million 'Hallucination' Multi-Colored Diamond Watch At Baselworld

Graff Diamonds has set the stage for a one-of-kind unveiling during Baselworld’s opening day. The first time exhibitor at the annual watch and jewelry fair will present the $55 million “Hallucination” ladies watch Thursday.

The London-based diamond and jewelry firm says the timepiece covered in a kaleidoscope of 110 carats of rare fancy colored diamonds is “estimated to be the most valuable watch ever created.”

Even the hour indicators on the petite dial of this candy-colored watch are made of diamonds. The company said a team of designers, gemologists and master craftsmen worked on this piece for thousands of hours to perfect the concept, which came directly from Laurence Graff, chairman of Graff Diamonds.

“The Graff Hallucination is a sculptural masterpiece; a celebration of the miracle of colored diamonds,” Laurence Graff said in a statement. “For many years I have thought about creating a truly remarkable watch that illustrates our all consuming passion for diamonds. The Hallucination has made my diamond dream a reality.”

Tomorrow I get to see it for myself.

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Happy Thanksgiving

Okay I couldn’t find a bejeweled Turkey so you’ll just have to make do with this $100 million diamond peacock brooch from Graff Diamonds.

In myth and legend the peacock has long carried portents of nobility, guidance and good luck. Turkeys just taste good.

Thanksgiving is the official start of the holiday season so my gift-giving guides will be up as soon as I can find the time to put them together. Travel begins again in a few days. I’ll be attending Art Basel Miami Beach and Design Miami. It’s my first time attending these events so it will be like a treasure hunt to me. The rest of my time will be dedicated to the holidays.

Enjoy

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Graff Recreates ‘Hair & Jewel’ With Half-Billion-Dollar Diamond Bejeweled Hairdo

Famed diamond jeweler, Laurence Graff, recreated a legacy statement Tuesday that helped to propel his brand to the forefront of the luxury world.

Known as “Hair & Jewel,” Graff in 1970 unveiled a photo of a model wearing an ornate coiffure decorated with $1 million dollars of diamonds and precious gems. The photo received international attention and became a landmark promotion for Graff Diamonds, founded only 10 years earlier.

“Until this time, images showing fine jewelry were typically modeled in a more conservative style,” Graff said in a statement. “This image broke the mould by using a younger model and created the idea of diamonds being aspirational to younger women.”

The Graff name is now known throughout the world and to celebrate the man behind the brand’s 60th year in the jewelry industry he recreated Hair & Jewel, only this time using $500 million worth of precious jewels. It’s a clear statement by Graff using a memorable promotion to show the world how far he has come.

"It is more than 40 years since the original image of Hair & Jewel was captured," Graff said. "The recreation marks an important milestone in Graff Diamonds’ history and coincides with the opening of its 40th store globally."

The hair of model Dalia Gunther was crafted by Eamonn Hughes using 22 rare jewels created at Graff’s headquarters in London. The image was photographed by David Slijper. The jewels used for the recreation include the following:

* Graff “Sweethearts” earrings featuring 51.53-carat and 50.76-carat D color Flawless type IIA heart shape diamonds;

* A selection of jewelry crafted from the 550ct Letšeng Star, the 14th largest white rough diamond ever discovered;

* A 10.47-carat fancy vivid blue internally flawless briolette diamond pendant;

* A 52.73-carat fancy vivid yellow emerald cut diamond ring; and

* A 6.51-carat fancy intense pink internally flawless oval cut diamond ring.

Below is a promotional video from Graff Diamonds showing the Hair & Jewel recreation.



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Laurence Graff Receives Order of the British Empire

Laurence Graff, founder of the one world’s most successful jewelry brands, has received one of the highest honors awarded by the British Monarchy. He has been named to Queen Elizabeth II’s Birthday Honors List, receiving a “Most Excellent Order of the British Empire” for his “Services to Jewelry.”

The OBE recognizes distinguished service to the arts and sciences and public services outside the civil service and work with charitable and welfare organizations.

The 75-year-old chairman of Graff Diamonds began his career in jewelry at the age of 15 working as a jeweler’s apprentice in London’s Hatton Garden. Sixty years later the British-born billionaire leads a global luxury jewelry business with boutiques in UK and Europe, North America, Africa, Asia and the Middle East.

Also during this time, he has taken ownership of some of the world’s rarest and most precious diamonds and gemstones, including the Wittelsbach-Graff, the Idol’s Eye, the Imperial Blue, the Blue Ice, the Magnificence, the Graff Pink, the Delaire Sunrise, the Graff Constellation, the Flame and the Graff Sweethearts.

“From humble beginnings and a lifetime working in the industry, I am extremely proud to receive such an honor,” Graff said. “I was born to be amongst diamonds, they are my true passion and this passion translates into everything I do.”

A total of 1,180 people were named on the Birthday Honors list, released June 15. The British Honors System is made up of five awards of differing rank. In descending order, they are as follows:

* Knight Grand Cross or Dame Grand Cross of the Most Excellent Order of the British Empire (GBE)
* Knight Commander or Dame Commander of the Most Excellent Order of the British Empire (KBE or DBE)
* Commander of the Most Excellent Order of the British Empire (CBE)
* Officer of the Most Excellent Order of the British Empire (OBE)
* Member of the Most Excellent Order of the British Empire (MBE)

The highest two ranks entitle its recipient to become a knight or dame.

The awards are presented twice each year in June (Queen’s Birthday Honors) and on New Year’s Eve.

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Graff Luxury Watches At Basel

Diamond MasterGraff Tourbillon

Graff Diamonds doesn’t sell wholesale or deal with the watch and jewelry trade. So there was no reason for the brand founded by Laurence Graff to have a presence at Baselworld 2013. However, company representatives did come to Basel during the fair to show its newest collection of luxury timepieces to press members in a nearby hotel suite.

As one would expect from the London-based jeweler—known for purchasing some of the most valuable diamonds and gems in the world—the watches on display were big and bold with plenty of diamonds and gems. Gold and DLC were used for bezels shaped in a notable faceted motif that has the appearance of a single diamond, with lugs serving as prongs that would hold the “diamond” in place. These are more than just show pieces, however, as the majority of these watches contain branded calibers and high-end complications.

Even when adding the bling factor, there’s also a refinement to the pieces, a notable design trait of Graff products.

MasterGraff Minute Repeater Tourbillon
This 47mm mechanical timepiece showcases two horological complications. The dial is made of mother of pearl dial in a radial-carved motif. In addition to navy blue, the dial is available in black and white. The minute repeater element is triggered by an upward push on a slide positioned on the side of the case. Two hammers striking two gongs sound the hours, quarter hours and minutes. A flying tourbillon is revealed at 6 o’clock encircled by a small seconds disc. It’s limited to 100 pieces.


Diamond MasterGraff Tourbillon (top photo)
The mechanical movement of this 45mm watch has complications that include a tourbillion displayed at 9 o’clock. But really, this timepiece is about Graff’s diamond expertise. A total of 634 diamonds in 20 shapes weighing 47 carats were used to cover the watch. The dial features a radiating pattern of baguette cut diamonds, with the 120 hour power reserve displayed in emerald, yellow sapphire and ruby. Emeralds circle the dial, acting as hour markers. The case and strap are covered with more diamonds in Graff’s patented mosaic design, framed by diamond set lugs and baguette links. It’s limited to 30 pieces.

GraffStar Grand Date
The Graff Caliber 1 mechanical movement, made in Switzerland for Graff, powers this watch. Along with hours and minutes, the movement provides the date– shown in large numerals at 12 o’clock, the seconds on a sub-dial at 9 and a 50-hour power reserve indicator at 6. The DLC case (also available in white and rose gold) is faceted to appear as a single diamond with the lugs serving as prongs. The dial is in black guilloché with a multi-level design and gold indicators. It is limited to 100 pieces.

 

GraffStar Slim
The black dial set with a triangular emerald at 12 o’clock has gold hour markers set in gold. Inside the 43mm white gold case is the mechanical Graff Calibre 3 Swiss movement. The faceted case has a thickness of 6.35mm. It is also available in rose and with a white dial.

ChronoGraff 45mm
The black dial has a guilloché pattern that contrasts against gold disks that move to reveal each chronograph indicator and the 60 second dial. At 12 o’clock is a triangular emerald marker. It’s housed in Graff’s signature faceted case, available in various combinations of yellow gold, white gold and DLC. The dial also is available in white. It’s limited to 300 pieces.

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Graff to Unveil 120-Carat, $100 Million Colored Diamond Peacock Brooch

Graff Peacock made with 120.81 carats of colored and colorless diamonds.

Graff Diamonds will unveil a $100 million diamond peacock brooch Friday at the TEFAF art fair in Maastricht, Netherlands. A total of 120.81 carats of colored diamonds adorn the brooch, which measures a little over 10cm in height (about 4 inches).

At the center of the brooch is a 20.02-carat fancy deep blue pear shape diamond, one of the rarest blue diamonds in the world, according to the luxury diamond jewelry company. It is surrounded by white and colored Graff diamonds—set by master craftsmen at Graff’s London workshop. The peacock’s tail feathers are set with various-sized fancy white, yellow, blue and orange diamonds. The tip of each feather is adorned with white diamonds in a flowery bloom.

The piece has a clasp in the rear that allows for the blue diamond centerpiece to be removed and worn separately.

In myth and legend the peacock has long carried portents of nobility, guidance and good luck. This colorful diamond peacock also provides beautiful adornment.

The TEFAF Maastricht art fair opens Friday and runs till March 24.

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Graff’s IPO May Reach $1 Billion

The Graff Diamonds store on New Bond Street, London.

Arguably the most exclusive jeweler in the world, Graff Diamonds, is shopping its IPO as it prepares for a June 8 listing on the Hong Kong Stock Exchange. According to reports, the diamond jeweler to the 0.1 percent of the 1 percent is expecting to raise $1 billion, which would value the retailer, and diamond and jewelry producer at $3 to $4 billion.

The London-based firm, known for its luxury diamond jewelry and for its owner’s penchant to buy some of the world’s most expensive gemstones, is expecting to raise $25 - $37 Hong Kong dollars ($3.22 - $4.76) per share, according to reports.

Laurence Graff, Graff Diamonds founder and chairman, and Francois Graff, CEO, met potential investors Monday, according to reports.

The money raised will primarily be used for expansion of the Asian retail network, development of Graff as an "iconic brand" (isn’t it already an iconic brand?) and developing the watch business, according to reports. The company currently has a network of more 30 stores, including five in China.

Graff Diamonds said it made $623.5 million in retail sales last year compared with $454.3 million the year before. However, a total of 20 customers accounted for 40 percent of its sales for the past three years. The company is also one of the few that have a mine-to-market operation that includes sourcing its own diamonds and gemstones and making its own jewelry.

The success of the IPO will not only be based on investors belief in the strength of the company, but their assessment of the increased growth among the world’s wealthy, particularly in China.

Graff Plans Asian Expansion

The Graff Diamonds store on New Bond Street, London.

Graff Diamonds Ltd. is planning to file an initial public offering, most likely in Hong Kong, in order to fund its expansion into Asia, according to several reports.

The London-based company, owned by Laurence Graff, is using the IPO to raise $1 billion and increase the value of the company to $5 billion, the Financial Times (subscription required) and other publications report. Graff has reportedly hired financial consultant, Rothschild Group, to advise him on the IPO, which is expected sometime next year.

The company, known for its luxury diamond jewelry, already has a network of more than 30 jewelry stores throughout the world. Graff would use the money raised in the IPO to fund a greater expansion into Asia, by far the largest growth market for luxury diamond jewelry, according to reports. In addition, the company hopes to use the funding to expand production of high-end pieces and increase its inventory of rare gemstones.

Hong Kong isn’t the only listing location being considered, but Asia is the company’s focus, according to reports.