Laurence Graff
Director/Board Member at Tel Aviv Museum of Art
Net worth: 3 M $ as of 2024-06-29
Profile
Laurence Graff (born 13 June 1938) is an English jeweller. He is best known as a supplier of unique jewellery and rare jewels to the wealthy. In 2008, he bought the Wittelsbach Diamond for £16.4 million ($24.3 million). He recut the diamond, removing and receiving criticism for altering the historic jewel.
In 2010 he set a record for the highest price ever paid for a jewel at auction, $46 million dollars/£29m, for a pink diamond. Graff is estimated to be worth US$4.3 billion as of 2013.
Personal life
Graff was born in Stepney in 1938 into a Jewish family, the son of a Romanian mother, Rebecca Segal, and a Russian father, Harry Graff. His father made suits off the Commercial Road while his mother ran a tobacconist and newsagents. His brother Raymond was born in 1947.
Career
Graff left school and became an apprentice when he was 15 cleaning floors and toilets. He was fired from that job after three months and went into partnership with Schindler, a jeweller, repairing rings and creating small pieces of jewellery in a small shop. That shop went out of business and so Graff began selling his jewellery designs independently to jewellers all over England. By 1962, he had two jewellery shops, including his first in Hatton Garden - the centre of London's jewellery trade since medieval times.
In 1960, he founded the Graff Diamonds company. In 1972 Janine Paule from Diversity Jewellery Ltd used to carry diamonds in small wax packets from Howard Taylor, a jobbing jeweller in Hatton Garden to Graff. This was so the right diamond could be selected for a particular gold ring. By 1974, he had begun specializing in selling to newly rich buyers from the Middle East. In particular, he supplied many jewels for Hassanal Bolkiah, the 29th Sultan of Brunei who became a lifelong client and friend. One day Prince Turki bin Abdul Aziz walked into the shop and bought everything including a 14 carat diamond. Graff is currently expanding his empire in North Africa and the Gulf.
Re-cut of the Wittelsbach Diamond
In 2008, Graff purchased the Wittelsbach Diamond for £16.4 million, a considerable premium over the £9 million guide price. Almost two years later, Graff revealed he had had three diamond cutters repolish the stone to eliminate the chips and improve the clarity, reducing the diamond from convert|35.52|carat|g to convert|31|carat|g. This action has been compared by critics to making the Mona Lisa prettier. However, according to gemologist Richard W. Wise, 'At a cost of only 4.45 carats the recut and renamed Wittelsbach-Graff Diamond has been raised from a GIA grade of Fancy Deep Grayish Blue to a Fancy Deep Blue. Its clarity grade has been likewise elevated from VS2 to Internally Flawless (IF). This is a substantial upgrade.' Further, the 'Graff recut retained the original double stellate brilliant facet pattern thus retaining the overall look of the original stone.' The renamed Wittelsbach-Graff Diamond and the Hope Diamond will be on display together at the Smithsonian Institution beginning the end of January 2010.
Personal life
In 1962, he married Anne-Marie Graff of French origin. They have three children: Francois (b. 1967), who runs the London branch of his father’s company, Stephane (b. 1968), an artist, and a daughter Kristelle (b. 1980). Graff also fathered a child with jeweller Josephine Daniel, 34 years his junior, in 2009.
Source @ Wikipedia
Known holdings in public companies
Company | Date | Number of shares | Valuation | Valuation date |
---|---|---|---|---|
GEM DIAMONDS LIMITED
14.93% | 2024-02-12 | 20,861,931 ( 14.93% ) | 3 M $ | 2024-06-29 |
Latest news about Laurence Graff
Laurence Graff active positions
Companies | Position | Start |
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Solomon R. Guggenheim Museum
Solomon R. Guggenheim Museum Other Consumer ServicesConsumer Services The Solomon R. Guggenheim Museum is a part of the Solomon R. Guggenheim Foundation, which was established in 1937. The non-profit company is based in New York, NY. The foundation is dedicated to promoting modern and contemporary art through exhibitions, education programs, research initiatives, and publications. The museum is an architectural icon and "temple of spirit" designed by Frank Lloyd Wright. It is among a group of eight structures recently designated as a UNESCO World Heritage Site. The museum features a renowned permanent collection and special exhibitions. | Corporate Officer/Principal | - |
Berggruen Museum | Corporate Officer/Principal | - |
Tel Aviv Museum of Art
Tel Aviv Museum of Art Other Consumer ServicesConsumer Services Tel Aviv Museum of Art operates a museum. The non-profit company is based in Tel Aviv, Israel. | Director/Board Member | - |
Former positions of Laurence Graff
Companies | Position | End |
---|---|---|
Graff Diamonds Corp.
Graff Diamonds Corp. Wholesale DistributorsDistribution Services Graff Diamonds Corp. operates as an investment holding company with interest in design jewellery and watches. The company was founded by Laurence Graff in 1960 and is headquartered in London, the United Kingdom. | Founder | - |
Graff Diamonds International Ltd.
Graff Diamonds International Ltd. Other Consumer SpecialtiesConsumer Durables Graff Diamonds International Ltd. manufactures and sells diamonds and jewellery. It specializes in dealing rarest stones, jewellery, and diamonds. The company has offices in London, New York, Dubai, Moscow, and Geneva. Graff Diamonds International was founded by Laurence Graff in 1962 and is headquartered in London, the United Kingdom. | Chairman | - |
The Museum of Contemporary Art, United States
The Museum of Contemporary Art, United States Other Consumer ServicesConsumer Services The Museum of Contemporary Art, Los Angeles operates a gallery for contemporary art. It services include collection, presentation, and interpretation of art and to preserving for future generations. The company was founded in 1979 and headquartered in Los Angeles, CA. | Director/Board Member | - |
Graff Diamonds Ltd.
Graff Diamonds Ltd. Specialty StoresRetail Trade Graff Diamonds Ltd. sells and processes diamonds. It engages in sourcing, cutting, polishing and final setting jewels. The firm has more than 26 stores worldwide and corporate offices in London, New York and Geneva. The company was founded in 1960 by Laurence Graff and is headquartered in London, the United Kingdom. | Founder | - |
Experiences
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Private companies | 7 |
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Graff Diamonds Ltd.
Graff Diamonds Ltd. Specialty StoresRetail Trade Graff Diamonds Ltd. sells and processes diamonds. It engages in sourcing, cutting, polishing and final setting jewels. The firm has more than 26 stores worldwide and corporate offices in London, New York and Geneva. The company was founded in 1960 by Laurence Graff and is headquartered in London, the United Kingdom. | Retail Trade |
Solomon R. Guggenheim Museum
Solomon R. Guggenheim Museum Other Consumer ServicesConsumer Services The Solomon R. Guggenheim Museum is a part of the Solomon R. Guggenheim Foundation, which was established in 1937. The non-profit company is based in New York, NY. The foundation is dedicated to promoting modern and contemporary art through exhibitions, education programs, research initiatives, and publications. The museum is an architectural icon and "temple of spirit" designed by Frank Lloyd Wright. It is among a group of eight structures recently designated as a UNESCO World Heritage Site. The museum features a renowned permanent collection and special exhibitions. | Consumer Services |
Berggruen Museum | |
Graff Diamonds International Ltd.
Graff Diamonds International Ltd. Other Consumer SpecialtiesConsumer Durables Graff Diamonds International Ltd. manufactures and sells diamonds and jewellery. It specializes in dealing rarest stones, jewellery, and diamonds. The company has offices in London, New York, Dubai, Moscow, and Geneva. Graff Diamonds International was founded by Laurence Graff in 1962 and is headquartered in London, the United Kingdom. | Consumer Durables |
Tel Aviv Museum of Art
Tel Aviv Museum of Art Other Consumer ServicesConsumer Services Tel Aviv Museum of Art operates a museum. The non-profit company is based in Tel Aviv, Israel. | Consumer Services |
The Museum of Contemporary Art, United States
The Museum of Contemporary Art, United States Other Consumer ServicesConsumer Services The Museum of Contemporary Art, Los Angeles operates a gallery for contemporary art. It services include collection, presentation, and interpretation of art and to preserving for future generations. The company was founded in 1979 and headquartered in Los Angeles, CA. | Consumer Services |
Graff Diamonds Corp.
Graff Diamonds Corp. Wholesale DistributorsDistribution Services Graff Diamonds Corp. operates as an investment holding company with interest in design jewellery and watches. The company was founded by Laurence Graff in 1960 and is headquartered in London, the United Kingdom. | Distribution Services |
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