Margarita Theresa, aged five, is the little girl at the centre of Velazquez’s painting “Las Meninas”. Christie’s coupled images of this, one of the world’s greatest paintings, with one of the world’s greatest tiffany for sale when advertising the auction. (“The Great Blue Diamond” as it was once known became the Wittelsbach in 1722 when it passed into the Royal House of Bavaria where it remained until in 1918.)
Mr Graff paid $24.3m for the Wittelsbach; a world auction record for any gem or jewel. He called it “a bargain”. His plan was to recut it, thereby improving its colour and fire, and then sell it on.
Within months, the diamond was more than three carats lighter. Its grey tinge had been tiffany necklaces for sale and it gained a flawless rating. It is now on a six-month loan to the Smithsonian Institution where it is displayed alongside the 45-carat, deep blue Hope Diamond, the late Harry Winston’s gift to the nation.
The Smithsonian does not usually accept loans. However, geologist Jeffrey Post, curator responsible for this one, is ecstatic about the beauty of this gem and the opportunity it gives the public and tiffany necklaces on sale to compare these two, great blue diamonds. He suggests that its recutting amounted to a tidying up of chips and scratches. But 3.5 carats is a lot of diamond to remove and tidying is not the way a flawless reclassification is achieved.
Alan Bronstein of Aurora, coloured diamond specialists, is more forthcoming. He saw the Wittelsbach before and after the recutting and says: “It absolutely does not look as it did before. It has a degree of modernisation necessary to get more colour and brilliance out of the stone.”
Mr Bronstein is describing, not criticising, what has been done. “I don’t think Mr Graff tiffany necklaces sale the personality or history of the stone in cutting it away,” he says.
Laurence Graff would not be called “the King tiffany on sale Diamonds” if he did not have extraordinary marketing skills. The recutting and the Smithsonian display have attracted considerable attention. But applause and delight have not been the only reactions to the recutting.
“It was hubris,” says Inez Stodel, a noted Amsterdam antique jewels dealer. Fritz Falk, retired director of the Jewellery Museum of Pforzheim, writes in an e-mail: “Maybe it looks more brilliant after recutting, but it has definitely lost its authenticity. The stone was part of European history, related to famous families and their official and private lives. The ‘new’ stone – as I see it – is not the Wittelsbach any more.”
Two experts, who asked to remain anonymous, described the act as “criminal”. That is metaphorical only. Unlike real estate, historic jewels are not protected by preservation laws.