Improve or destroy? Will Laurence Graff, aka The King of Diamonds, yet again buy a famed historic diamond only to recut it to make it more saleable?
That is what he did to the big blue Wittelsbach (see above photo © Ernst A. Heiniger ) after he bought the historic stone at Christies. I wrote about that unhappy saga in the Financial Times. The importance of such a stone is not only its carat weight and color but the less commercially measurable associations it has with the people who have worn it, owned it, given it, treasured it, hidden it, used it for power and glory. Once recut it is just a big fat diamond. And, in the case of the king of diamonds, a brand nam. He promptly renamed his recut blue stone, the Wittelsbach-Graff.
Now the Beau Sancy (right) is coming up for auction at Sotheby's and there is reason for lovers of extraordinary historic gems to worry. This pale yellow diamond was probably found at Golconda, and certainly found in India, more than 400 years.It weighs a smidgen under 35 carats. It has many royal associations not least of them this: The Sancy was worn by the Florentine Maria de' Medici at her 1610 coronation as Queen Consort to the French king Henri IV. (See below.) It will be auction in Geneva on May 14-15 with an estimate of from $2-$4 million.
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