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La Favorite

Feb 12th, 2013

La Favorite

La FavoriteThe La Favorite, was a 50.15 carat D VVS2, with the potential for being flawless if it were to be slightly re-cut. It is set in a ring by Bulgari. The origin of the name La Favorite is shrouded in mystery just as much as the early history of the diamond itself. The name perhaps reflects the quality of the diamond, which is better than all others of the same kind.

The La Favorite was mined in South Africa (other details of the early history of the diamond such as the mine of origin, date of discovery, weight of the rough stone, original owner of the diamond, person or company involved in the cutting etc. are not known). It made its debut at the Chicago World’s Fair in 1933, when it was valued at $1 million. The diamond was a sensation during the Depression; people waited in lines to see the rock.

The year 1934 was when the United States and the world was in the midst of the Great Depression, a period of harsh adversity precipitated by a worldwide economic downturn, causing drastic declines in output, severe unemployment and acute deflation. In spite of the depression, the La Favorite diamond became a sensation at the World Fair, and long queues formed with people waiting patiently to take their turn to view the rare and unique diamond.

In the 1960’s, it was sold to a Frenchman. The piece was purchased by Laurence Graff for $3,636,000 in April, 2001, at Christie’s, New York. After purchasing the diamond Laurence Graff has got the it slightly re-cut to make it a perfectly flawless diamond. The present weight of the diamond is 50.01 carats, a reduction of 0.14 carats. The diamond is now set in a new ring setting by Graff.

La Favorite

Laurence Graff is described as not only a merchant of brilliants but also a brilliant merchant. The Graff business empire was founded by Laurence Graff, the “King of diamonds”, who is said to have had a passion for diamonds from an early age. Graff is reported to have made the following comments on one occasion. “Diamonds excite me; diamonds are my life. I see inside the stone; look at the color; and cut and assess its natural beauty and value. I was born to be amongst diamonds.” Laurence Graff has set an unsurpassed standard of excellence and innovation in the industry, and it is said that more important gem-quality diamonds have passed through his hands than any other living dealer. Some of the stones are centuries old and steeped in myth and history; while others have just been discovered and brought to life in Graff’s own workshops.

 

Sources:

Internet Stones

Wikipedia

Famous Diamonds

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