Graff Jewellery, Following a Passion

Posted on July 1, 2020August 19, 2024 by Mary Waterfall

The House of Graff approach making jewellery from a slightly different angle than their more traditional rivals. For them it is all about the gemstones themselves. As they say on their website:
‘Imagine dedicating your life to discovering the world’s most remarkable diamonds and gemstones, a treasure hunt that takes you to all corners of the globe, in search of these elusive wonders. This quest has consumed the Graff family ever since the House was founded almost 60 years ago, and continues to do so today’

The story behind Graff is one of vision, determination and focus. Laurence Graff did what we all should do in life: he followed his passion, dared to dream big and believed in himself.

The Graff Lesedi La Rona Diamond

He started out working as an apprentice in a workshop in Hatton Garden when he was 15 years old. It is said that naysayers tried to discourage him but Graff didn’t listen. He believed he was born to work with diamonds. He not only worked with them, he studied them and seemed to develop an innate understanding of all gemstones. In 1960, aged 24 he founded Graff diamonds and within a couple of years two shops had opened in London. He took his stunning jewellery creations around the world to exhibitions and to showcase to potential clients in their palaces and private yachts. Graff soon began to develop a global reputation and his pieces became highly sought after. There are now over forty shops worldwide and Laurence Graff is said to have handled more important diamonds than any other ‘diamantaire’ this century.

What makes Graff jewellery so special is that they pride themselves on being part of the whole process of jewellery making. From the responsible sourcing of beautiful gem crystals to the meticulous cutting and polishing to optimise their colour and brilliance. With their incredible combination of pioneering technology and age old jewellery making techniques their designers and craftspeople create sculptural works of art. It is all about perfection. As Laurence Graff said himself:
‘No stage is bypassed. No shortcuts are taken. Only perfection matters.’

It’s such a treat to look into a Graff shop window because there is always a dazzling display. They have handled some of the rarest, the largest and most beautiful gems in existence, encompassing them in magical jewellery designs and really honouring these wonders of nature.

Last year they unveiled The Graff Lesedi La Rona Diamond, the world’s largest square emerald cut diamond weighing 302.37cts. It is the largest highest colour and clarity diamond ever certificated by the GIA. It took 18 months to extract and sculpt this record breaking gem from the 1,109ct rough crystal.

Other amazing gems in their collection include the Golden Empress, an intense yellow cushion cut diamond weighing 132.55cts and the Graff Pink, is a vivid pink, internally flawless diamond of 23.88cts.

Graff’s philosophy is the same across all of their jewellery collections. As a jewellery valuer it’s a privilege to be able to examine and appraise such beautiful creations. It comes as no surprise that the price of such jewels continues to rise.

Ruby and diamond earrings and pendant from The Lotus Collection. Originally purchased in 2015 for £102,750. To replace them today would cost £128,500

Earlier this year I was lucky enough to value these stunning ruby and diamond earrings and pendant from The Lotus Collection. They were originally purchased in 2015 for £102,750. To replace them today would cost £128,500. That’s quite a significant increase over a five year period. When was the last time your jewellery was professionally valued? Do the values on your spreadsheet really reflect the increase in the price of gold, diamonds and coloured gems, not to mention the rise in manufacturing costs? Or is the figure just a random percentage increase which may lead to a shortfall in compensation in the event of loss? Surely it’s not worth the risk, especially when it comes to such magnificent pieces as these.

How many 00’s in a pair of 007’s cufflinks?

Posted on June 27, 2020August 19, 2024 by Mary Waterfall

When embarking on a valuation, a valuer never knows what they will see and sometimes it’s the little, seemingly lower value items at the bottom of the jewellery box that are the most surprising.
I was asked to do a valuation for a large quantity of jewellery and watches. After appraising all the diamond and gem set pieces and the significant collection of watches, there was just an assortment of silver cufflinks remaining. I decided to value them in groups, starting with the designer ones: Tiffany & Co, Tom Ford, Cartier. I imagined they would be £200- £300 a pair. However this was not the case.

Later, when I started to do my research I discovered that Tom Ford do not sell silver cufflinks. The pair in question were oval in outline with a mother of pearl panel and the engraved initials ‘JB’. Apparently Tom Ford had specially manufactured four pairs of these cufflinks for the James Bond movie Spectre. One of these pairs had been sold at the Christies Spectre auction in 2016 for £74,500!

Needless to say I nearly fell off my chair! I re-contacted the client and asked for some information about the provenance of these cufflinks. Had they been purchased at auction? The response was ‘no they were a gift from Barbara Broccoli’.

In the article it mentioned that EON Productions had the two other pairs of cufflinks stored in their archives, so I decided to contact them. They were incredibly helpful and replied to my email almost immediately. They confirmed that Tom Ford had produced the cufflinks for the movie at a cost of £300 per pair. They had two pairs in their archives insured for the value of £3000 each. One pair had been gifted to a friend by the producers and one pair had been sold at auction for £74,500.

So what is the value of these cufflinks – £300, £3000 or £74,500? If the client decided to sell them at auction it could be argued that they would command £74,000 again, maybe even more. Movie memorabilia is highly desirable and sought after, especially when it comes to James Bond.

I explained my findings to the client and it was decided that an Agreed Value should be placed on these cufflinks, a value that the client and insurance company were comfortable with, that would be paid out if anything should happen to the cufflinks.

It was such a fascinating valuation. It really highlighted the fact that many clients have been gifted items of jewellery and they have absolutely no idea of their value, let alone have them listed for insurance purposes. When was the last time you had the contents of your jewellery box professionally reviewed? Diamonds may be forever, but be careful not to overlook the other treasures.

Rediscovering the Allure of the Cultured Pearl

Posted on July 23, 2019August 15, 2024 by Mary Waterfall

Ancient cultures considered natural pearls to be ‘tears of the Gods’. They were believed to bestow mythical powers and wisdom to whoever possessed them. In today’s society the cultured pearl is considered the ‘stone of sincerity’ and represents purity. It symbolises the birthstone for June and the third and thirtieth wedding anniversary. Jackie Kennedy once said ‘Pearls are always appropriate’.

A set of cultured pearls gifted to Marilyn Monroe in 1954 by Joe Dimaggio

Yet for many years pearls have fallen out of fashion, with people associating them with their grandmothers and the older generation. However, as with the cyclical nature of all things, pearls are now enjoying a renaissance. Iconic women such as Michelle Obama can be seen wearing both a classic cultured pearl necklace as well as more contemporary cultured pearl set jewellery. The Duchess of Cambridge often sports a pair of cultured pearl earrings.

Cultured pearls are making a comeback but not just in the traditional sense of the simple necklace and stud earring set. The classic string of cultured pearls, such as the set gifted to Marilyn Monroe in 1954 by Joe Dimaggio (pictured), will always have a place in our hearts, however we appear to be moving away from the need for a string of perfectly round pearls and contemporary designers are embracing the irregular shapes of baroque pearls to make innovative and unique pieces. Freshwater cultured pearls such as the fireball are being combined with diamonds and gems to make beautiful, abstract creations.

The production of pearls is a fascinating business. Whether the end product is perfectly round or completely irregular in shape the process is the same.

When it happens naturally a ‘foreign body’ invades the mollusc and as a way of protecting itself the mollusc secretes nacre. Gradually layer upon layer of this lustreous substance containing microscopic crystals of calcium carbonate, covers the ‘foreign body’ and a natural pearl is formed. When it happens artificially and a piece of mantel tissue or bead nucleus is inserted into the mollusc the pearl is cultured.

It’s of little wonder that before Mikimoto commercialised the cultured pearl industry in the late nineteenth century, pearls were only accessible to royalty and the very rich. This is because of the many mollusc varieties known to us only a small number can produce pearls. Of the pearls that they produce only a small number will be of a desirable shape, colour and quality, and only a fraction of these will actually be discovered by man. Consequently natural pearls are extremely rare and very expensive.

So how can you tell the difference between natural and cultured pearls? If you take a look at the drill hole you may be able to see the bead nucleus of a cultured pearl. A factor in the value of natural pearls is weight, so the drill hole tends to be a lot smaller compared to cultured pearls. Also a string of naturally formed pearls will tend to be slightly mismatched and irregular in shape, they will be smaller and almost always graduated. However to be absolutely sure the pearls need to be sent to a laboratory for certification, where they will be x-rayed.

In 1937 the Yaguruma, a sash clip with interchangeable settings in 12 different forms, attracts crowds at the Paris Expo. Its unique design is a breakthrough in multi-functional jewellery. Sold in Paris, it disappears from public view, then reappears at an auction in New York in 1989. It is purchased by Mikimoto Pearl Island where it remains today.

There are many different types of cultured pearl but they fall into two categories and are either saltwater or freshwater.
Freshwater cultured pearls are cultivated in mussels, in lakes and rivers. Mantle tissue from another mussel is often used to start the process and this is why they are often irregular in shape. However bead nucleation is becoming more and more common in order to cultivate larger more rounded pearls. Up to forty freshwater cultured pearls can form within a single mussel, making them more readily available on the market.
To cultivate saltwater cultured pearls is a slightly more labour intensive process. They are grown in a variety of oysters. Often just one pearl per oyster, using both mantle tissue and a bead nucleus to produce a more round pearl.
There are three main types of saltwater cultured pearls: Akoya, South Sea and Tahitian. Akoya cultured pearls are farmed in Japan, China and Vietnam. They are usually white and cream in colour and measure from 2mm to 11mm.
South Sea cultured pearls are grown in Australia, Indonesia and the Philippines. They come in shades of white, silver and gold and typically measure from 8mm to 20mm.
The Tahitian cultured pearl are cultivated in French Polynesia and The Cook Islands. They are much darker in colour, blacks, greys and browns and measure from 8mm to 18mm.

This natural pearl and diamond necklace was recently valued for the purpose of insurance at £10,000.

Pearl jewellery is often passed down through generations and many people are unsure if it is natural, cultured or imitation.
When we consider that cultured pearls have gone up in value by approximately 10% over the last 5 years, and South Sea cultured pearls have gone up even more significantly, the question is, does your inherited pearl necklace have an accurate, up to date valuation and is it properly insured?