laurence graff

Delaire Graff Estate, A Diamantaire's South African Paradise

Filed under: Jewelry, Luxury Travel & Hotels, Spas, Wine

Perhaps the world's most famous living diamantaire, Laurence Graff,is also in the resort and wine business. The Delaire Graff Estate is luxury South African resort in the Stellenbosch area, home to some of South Africa's best vineyards. Graff opened the estate last year but has owned the land for years. The estate has just 10 overnight lodges but also includes a state-of-the-art spa, Indochine--an Asian fusion restaurant and a fully operational vineyard producing high-quality Sauvignon Blanc, Chardonnay, Shiraz and other wines.

Tags: delaire graff estate, delaire graff spa, laurence graff, south africa, south africa travel, south african wine, stellenbosch

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Pink Diamond Sells for $46 million, Setting a World Auction Record

by Carrie Coolidge (RSS feed) —

Filed under: Jewelry, Auctions

Sotheby's sells 24.78 carat pink diamond for $46 million, setting a world record

Sotheby's Geneva set a world auction record for any diamond and any jewel today when it sold an exceptionally rare and magnificent Fancy Intense Pink Emerald-cut Diamond. Weighing in at 24.78 Carats, the ring sold for for $46,158,674, well above the pre-sale estimate of $27 million to $38 million.

Four bidders competed for the gem, which is considered to be one of the most important and beautiful stones ever to come up for auction. The stone came to the market from a private collection, and has not appeared on the open market since it was purchased some 60 years ago from Mr. Harry Winston (who's namesake company won the Luxist Awards' Readers Choice Award for best jewelry line).

The diamond was bought by Patti Wong, Sotheby's Chairman in Asia, bidding on behalf of Laurence Graff, the British billionaire jeweler to the stars (and a Luxist Awards nominee for best jewelry line). Shortly after the sale, Laurence Graff named the diamond "The Graff Pink" and made the following statement: "It is the most fabulous diamond I've seen in the history of my career and I'm delighted to have bought it."

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Art Basel Attracts Abramovich, Kilmer, Millions

by Tom Johansmeyer (RSS feed) —

Filed under: Art

The exclusive opening of Art Basel – for the most serious buyers – had the desired effect. The most famous art show in the world attracted the likes of art collector Roman Abramovich (however much it may be at the behest of his squeeze) and fetched some major sales, including $15 million for a sculpture by Pablo Picasso.

So, who joined Abramovich in scratching the art itch ... one that's been hard to scratch since the art market collapsed in 2008? Well, Val Kilmer, Peter Brant and Laurence Graff were among the elite.

Prices haven't returned to 2007 levels, noted art dealer Nicholas Maclean to Bloomberg News, but he added that the top stuff is selling well. This doesn't exactly defy common sense, of course. There are 303 galleries at Art Basel this year, and they're all hoping to ride this wave.

A Christie's International auction in Paris the day before Art Basel started set the tone for the affair. A sculpture by Amedeo Modigliani moved for $53 million, setting a record for the French auction market.

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Tags: amadeo modigliani, art auction, art auctions, art basel, art market, auction house, auction houses, christies, ChristiesAuctionHouse, laurence graff, modligiani, peter brant, roman abramovich, val kilmer

Christie's Auction Pumped by Yves, Keeps Art Market Recovery Going

by Tom Johansmeyer (RSS feed) —

Filed under: Auctions, Art

The 51 lots that Christie's sent under the gavel last night were chosen carefully. The auction was designed to succeed ... which is what you would have thought of every auction until the middle of 2008, right? Nonetheless, the auction house made some bold moves in an effort to push up prices, but only offered lots that would justify putting the necks of its constituent decision-makers on the chopping block.

With a final tally of more than $61 million in line with the high end of the presale estimate, it would appear that Christie's made some smart calls. Forty-six of the lots achieved sale, with one clearing £5 million, nine surpassing £1 million and 16 beating $1 million. Compared to last year's sale, when only 29 lots were offered, the total take surged 3.7X. I tend to be pretty skeptical, but even that sort of result is enough to make me admit that the art market's recovering.

Buyers in Europe and Britain were most active, picking up 41 percent and 33 percent of the sales, respectively. Collectors in the United States followed with 22 percent and Asia at 4 percent.

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Tags: andy warhol, AndyWarhol, art auction, art auctions, art market, ArtAuction, ArtAuctions, ArtMarket, auction, auction-house, AuctionHouse, auctions, britain, Christies, ChristiesAuction, ChristiesAuctionHouse, england, laurence graff, LaurenceGraff, london, Sotheby, sothebys, warhol, yves klein, YvesKlein

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Laurence Graff Buying and Selling at Tefaf

by Deidre Woollard (RSS feed) —

Another year of The European Fine Art Fair (better known as Tefaf) in the Netherlands and diamond kingpin Laurence Graff is already buying and selling. Bloomberg reports that he sold an emerald-cut white diamond, of about 30 carats for $5 million to a U.S. client. Not bad, although last year bang Graff sold a 70-carat yellow diamond out of their booth for around $11 million. Graff also spent some money at Tefaf picking up one of Jean-Michel Basquiat's boxer paintings for 3.5 million euros ($4.5 million).

This year there are a record 239 dealers offering over $1 billion worth of art ranging from Old Master paintings to silver, ceramics and contemporary art. The sale runs from March 13 to March 22. All the works are of the highest quality, Art Daily reveals that there are 25 committees made up of 155 experts who ensure quality, condition and authenticity. The entrance hall in the exhibition is decorated with thousands of flowers for an impressive display. Many are hoping that after the huge results earned by the Yves St. Laurent sale in Paris, collectors are once again in a spending mood.

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Tags: basquiat, diamonds, laurence graff, LaurenceGraff, tefaf

The Lesotho Promise Neckace

by Deidre Woollard (RSS feed) —

Filed under: Jewelry

Back in February I mentioned that Graff Diamonds had cut the the 603-carat Lesotho Promise diamond into 26 smaller diamonds varying in size from .52 carats to 76.41 carats each with a D Flawless grade (a total of 223.25 carats). Graff is in the process of turning the story of the 18 months of cutting and polishing the stones into a book and documentary. Now they have turned these those stones into one spectacular necklace, The Lesotho Promise Necklace.

The Lesotho Promise, mined at the Letseng mine in Lesotho, is the 15th largest rough diamond ever recovered and was sold to Graff and its partner polishing company Safdico for $12.36 million in October last year. The necklace is part of the company's display of magnificent jewels in Monte-Carlo and is available for viewing until August 10 at the Salle Empire, Hotel De Paris in Monte-Carlo along with rare gems from Graff's collection including The Flame, a 100-carat pear-shaped D-flawless diamond.

The stones are valued at $50 million but a value hasn't been given for the finished piece. Laurence Graff has vowed not to split up the set of diamonds and so this necklace has a small set of potential buyers, people in the world with the wherewithal to afford it. Monte Carlo seems the perfect place to display it to the wealthy.

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Tags: diamond necklace, DiamondNecklace, diamonds, graff diamonds, GraffDiamonds, laurence graff, lesotho diamond, lesotho promise

The Cutting of the Lesotho Promise

by Deidre Woollard (RSS feed) —

Filed under: Jewelry

Somehow I missed the announcement in December and so it took March's W Magazine to draw my attention to the fact that the Lesotho Promise diamond which was bought by diamond dealer Laurence Graff in 2006 has been cut into 26 smaller diamonds varying in size from .52 carats to 76.41 carats each with a D Flawless grade. The 603-carat stone yielded 223.35 carats. That sounds bad but it is actually a really excellent haul, when cutting rough stones there is always a significant loss.

The stone has had quite a journey from the Letseng mine in the African country of Lesotho which is surrounded entirely by South Africa. The stone was sold and cut in Antwerp. Each of the stones is laser inscribed on the girdle with the Graff logo and its GIA (Gemological Institute of America) identification number and its own Lesotho Promise number. Graff bought the rough stone for $12.36 million and is expecting quite a haul on his investment, he's looking for a $50 million payday. He's also hoping not to break up the set and sell all the stones to a single buyer.

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Tags: diamonds, laurence graff, lesotho promise, LesothoPromise

Laurence Graff's Spendy Week

by Deidre Woollard (RSS feed) —

Filed under: Jewelry, Auctions, Celebrity Shopping, Art

Renowned jeweler Laurence Graff has a habit of spending big at the big jewel and art auctions but this week Graff really went overboard spending $40 million this week on rare red and blue diamonds in Geneva and scooping up contemporary art in New York. Bloomberg reports that Graff paid $8.4 million for a Warhol soup-can picture, $15.7 million for Warhol's double image of Elvis Presley. as well as Warhol pictures of Jackie Kennedy and Truman Capote and Jean-Michel Basquiat's portrait of Sugar Ray Robinson. In an interview Graff was quoted as saying that what he bought he mostly got at low estimates and that he thinks they will go higher (this even as a prominent art dealer named Warhol and Basquiat as two of the most overpriced artists). Graff wasn't just buying, he also sold $10 million of art at this week's auctions.

Also on Graff's shopping list this week on the business side was the 493 carat Letseng Legacy, the world's 18th largest known diamond. Graff and manufacturing partner SAFDICO beat out 10 other diamantaires, eventually paying $10.4 million.

[Thanks, Lana]

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