The Wittelsbach; All tarted up and ready to sell
by Richard W. Wise
©2010
Graff Does It again.
Few believed Lawrence Graff would have the chutzpa to recut the Wittelsbach Blue diamond, but we were all wrong. At a cost of only 4.45 carats the recut and renamed Wittelsbach-Graff Diamond has been raised from a GIA graded of Fancy Deep Grayish Blue to a Fancy Deep Blue. Its clarity grade been likewise elevated from VS2 to Internally Flawless (IF). Though I have yet to see the stone’s pavilion, based on the Smithsonian’s press statement, “Throughout the very delicate process of re-polishing this famous stone, great care and attention was taken to retain its original features”, I suspect that Graff recut retained the original double stellate brilliant facet pattern thus retaining the overall look of the original stone. For those of you who don’t know the story of Graff’s acquisition of the Wittelsbach let me refer you back to my previous GemWise. Really The Blues.
Wittelsbach facet pattern. Note the star like pattern on the pavilion.
In its original form, The Wittelsbach-Graff had a distinct window (see image above left) through the culet of the gem.
In an official biography, the claim is made that Graff is the 20th Century successor to Jean Baptiste Tavernier. Readers will recall that my new historical novel, The French Blue, chronicles the life and adventures of Tavernier, the 17th Century gem merchant who sold Louis XIV the blue diamond that would eventually become the Hope Diamond.
Though the identification with Tavernier is debatable, there is no question that Graff has shown himself to be a master of diamond recutting as well as a premier sales tactician. The newly recut Wittelsbach-Graff now sports a higher quality grade than The Hope Diamond. The Hope, though larger (45.52 carats), remains a Fancy Deep Grayish Blue and only VS1 in clarity. By arranging to show the stone, virtually side-by-side with the world’s most famous diamond, Graff also managed to pull off another coup de main. The association with The Hope cannot fail to pump-up his diamond’s provenance—that ephemeral value based upon who owned the stone and what scandals it might have been part of—so that it is now almost equal to The Hope. While putting together this exhibit is, without question, a large feather in the cap of Smithsonian curator Dr. Jeffrey Post, it could mean as much as 100 million to Graff. In a brilliant master stroke, Graff has made the Wittelsbach-Graff the second most valuable diamond on earth and as far as anyone knows, the only one available for sale. Maybe he is the 20th Century’s successor to Tavernier after all.
Re-Cutting and Value:
Graff announced his intention to recut the Wittelsbach just after he purchased it at the… Many aficionados, including this writer, criticized his intention at the time. Many assumed that it would be necessary to radically alter the facet pattern and reduce the weight, to achieve a better color grade and I assumed that Graff would take the opportunity to rid the stone of its prominent window. Graff fooled everyone. According to my sources, the diamond was worked on by three separate cutters beginning with Nino Bianco, who passed away from cancer during the process. Though specifications are not yet available, the probability is that the stone was decreased in overall diameter in order to create steeper pavilion angles. By slightly reducing the overall size he was able to accomplish his goal with just a minor if at 2 million a carat, any loss can be called minor, loss of weight. The Wittelsbach-Graff retains its original look and chances now that it is a Fancy Deep Blue without the “grayish” designation will sell for even more.
How was the Wittelsbach actually recut, how does it look now? For the definitive answer to that question you can rush down to the Smithsonian on January 29th, the first full day the gem will be on display, or stay tuned to GemWise.
