Tuesday, October 13, 2009

Laurence Graff


Net Worth:$2.2 bil
Fortune:self made
Source:diamond jewelry
Age:70
Country Of Citizenship:United Kingdom
Residence:Gstaad
Industry:Retail
Education:NA,
Marital Status:married, 3 children


Jewelry business insiders call British diamond merchant Graff the new Harry Winston. Specializing in the highest end of jewelry retailing, Graff has 30 stores worldwide. Clients include the Sultan and Queen of Brunei and Donald Trump. As financial markets tanked this year, Graff made bold public purchases, including the 35-carat Wittelsbach Diamond, which he snapped up in December at a Christie's auction in London for $24 million, the most ever paid for a diamond at auction. A self-made tycoon, Graff spent childhood in London's gritty East End, dropping out of school at age 14 to become a jeweler's apprentice. In 2008 Graff achieved full vertical integration when he bought a stake in publicly traded diamond miner Gem Diamonds. Other assets include jewelry company Graff Diamonds International, a polished diamond trading company in Antwerp, a real estate company in Luxembourg and a stake in a South African diamond wholesaler. Graff splits his time between homes in Gstaad, London, Cap Ferrat, New York City and his 150-foot Feadship yacht. Also owns a vineyard and winery in Stellenbosch, the Napa Valley of South Africa, and an extensive modern and contemporary art collection.

Russia Stockpiles Diamonds


Russia's response to the fall in global diamond prices has been to continue production--but to stockpile, rather than sell. This behavior has prompted speculation that the authorities are planning to manipulate international market prices.
In May, it was estimated that the world wholesale market for polished diamonds would fall from $21.5 billion in 2008 to around $12 billion this year.
Most diamond-mining companies responded to the weakness in the market by halting production, in most cases for several months. De Beers, which in recent years has supplied around 40% of the world market, cut its output earlier this year by 91%. The Argyle mine in western Australia, the country's largest, stopped production, resuming only very recently. Botswana's major mines were closed for three months, putting 4,500 people out of work.
Russian response. The Russian response has been different. From January-May, diamond production was officially reported to have been down only 1.9% compared with the year-earlier period. The new Russian arrangement has been that the dominant producer, Alrosa (which accounts for 97% of Russian output), has been selling a large part of its output to the State Repository of Precious Metals and Precious Stones (Gokhran)--and selling very little onto the world market.
Role of Alrosa. Before other producers closed their mines, Alrosa accounted for about 25% of world output, against De Beers' 40%. In recent months, it has become by default the world's largest producer. Alrosa controls some production in Angola and western Russia, but the bulk of its output comes from the Republic of Sakha (Yakutia) in eastern Siberia. The regional government of Yakutia used to have a great deal of control over the industry, but under Prime Minister Vladimir Putin, the center has--in this as in other affairs--asserted itself. This is reflected in the present ownership structure of Alrosa:
--The company is state-owned and is therefore subject to direct state supervision. The main direct link is with the Ministry of Finance (MinFin): Finance Minister Aleksei Kudrin chairs Alrosa's supervisory board.
--Regional politics also loom large. Yakutia republican President Vyacheslav Shtirov has for some time been at odds with the CEO of Alrosa, Sergei Vybornov. Shtirov lobbied Putin about Alrosa, seeking to take over the company himself. Vybornov was still in place after the shareholders' annual general meeting on June 20, and shortly thereafter was part of the delegation that traveled with President Dmitry Medvedev to Africa. However, he was dropped from the Alrosa supervisory board, on which Shtirov sits.
--These local conflicts probably added to Moscow's worries about keeping Yakutia and Alrosa satisfied. However, the federal authorities' main concern was to minimize unemployment in Yakutia's diamond-mining settlements. This is likely behind the plan to keep production going, even if it means hoarding diamonds.
Stockpiling strategy. So far as stockpiling is concerned, Gokhran--which originated in the era of Peter the Great--was the obvious candidate, particularly because of its connections to MinFin. In effect, production by a MinFin-supervised business (Alrosa) is now being sustained by selling output to an entity that is also controlled by MinFin (Gokhran). However, exactly how the Alrosa-Gokhran-MinFin arrangement will work out remains unclear.
Outlook. Faced with falling demand, all diamond producers have cut back supply to the world market. Russia has been unusual in doing this by stockpiling production rather than cutting output, but its motivations lie more in domestic politics than in market rationale. However, the consequences for the international diamond market do not look to be substantial. Russia is not likely to become a 'swing producer' of diamonds, with built-in, long-run market influence.
Oxford Analytica 07.06.09, 6:00 AM ET
To read an extended version of this article, log on to Oxford Analytica's Web site.
Oxford Analytica is an independent strategic-consulting firm drawing on a network of more than 1,000 scholar experts at Oxford and other leading universities and research institutions around the world. For more information, please visit here.

Billionaire's Ring To Crown Christie's Sale

LONDON -
Christie's is gearing up to sell Leonore 'Lee' Annenberg's giant diamond ring in New York as part of their October jewels auction. The Annenberg Diamond is currently on a whistle-stop tour around Geneva, London, Hong Kong and Los Angeles in search of buyers who feel that the estimated tag of $3 to $5 million is within their price range.
The Annenberg and its supporting lots touched down in London for less than two days this week before being securely shipped to Hong Kong. At a press preview, held in a paneled room in Christie's King Street, London jewelry department head Keith Penton and his New York counterpart, Rahul Kadakia, showed off some of the more interesting gems under the watchful eye of a security guard.
The world tour is emblematic of why fine jewelry might be weathering the recession. Christie's are not taking their wares to their station in Dubai, but potential customers from the Gulf showed up when the gem stopped off in Geneva. Its brief Hong Kong sojourn coincides with the start of the popular September Hong Kong Jewelry & Gem Fair.
Billionaire's Ring To Crown Christie's Sale

Luca Solca, a luxury goods analyst at Sanford Bernstein in London says customers in the Middle East and Asia are still happy to spend. "The high-end luxury goods market has been resilient," he said, "mostly due to the emerging markets consumer supporting it."
Regardless of the eventual buyer's background, the Annenberg has an all-American pedigree.
Forbes listed Lee Annenberg the day before her death this March as the world's 430th richest person, with a net worth of $1.7 billion. As former President Ronald Reagan's chief of protocol and wife of publishing magnate and later U.S. ambassador to London Walter H. Annenberg, she led an exceptionally glamorous life. A prominent philanthropist--the Annenberg Foundation has given away billions since its founding in 1989--with connections to numerous high-profile galleries and cultural centers on both sides of the Atlantic, she clearly also had good taste in jewelry.
Christie's is betting her name will enhance what is already an utterly flawless stone. The Annenberg Diamond, an emerald-cut (square) gem, which is a top D-color, or completely colorless, weighs in at a vast 32.01 carats. Mined in South Africa and mounted as a ring designed by jeweler David Webb, it is flanked by two pear-shaped diamonds of 1.50 and 1.61 carats. Its closest competitor at the auction is a Tiffany and Co. diamond ring owned by the late New York socialite Lillian Booth, which is a G-color stone weighing a substantial 21.42 carats.
The October auction actually consists of two separate sales of more than 38 lots: one focusing more on signed pieces and the second on period jewels and objets d'art. Alongside primarily collectors' pieces like the enamel, star sapphire and diamond Lalique 'Thistle' jewels, a tiny Cartier panther, ornate vanity boxes and cufflinks are several examples of more modern pieces from the top names in jewelry. A highly wearable Harry Winston diamond and emerald necklace from 1956, with an 18.95 carat old Indian emerald as its centerpiece, has an estimate of $500,000 to $700,000.
Other highlights include the Taj Mahal emerald, dating back to the mid-17th century, so-called because the intricate carving on the large hexagon resembles the Mughal reliefs in Agra. It was formerly part of a grand Cartier shoulder ornament called the Collier Bernice, and should sell for over a million dollars, estimates Christie's. A Boucheron perfume bottle in the shape of a cat with emerald eyes is also on offer.
Despite all the sparkle and shine surrounding it, the star of the show remains the Annenberg. The Gemological Institute of America estimates that out of 100 million carats each year worldwide, no more than 600 crystals finish D-color and with a weight of 1 to 2 carats. The chances of finding such a crystal of over 32 carats are therefore very small.
The Annenberg will not break the $24.3 million that Laurence Graff needed to buy the 35.56 Wittelsbach blue diamond in December 2008. But Christie's thinks that it's particularly special, and not just because the stone itself is matchless. "The provenance is even more impeccable than the stone is," said Christie's Kadakia. "You can't put a price on provenance."


Elinor Buxton, 09.18.09, 6:00 PM ET

Wednesday, October 7, 2009

A White Truffle Tale



The white truffle, one of the world’s most expensive and delicious ingredients, grows to perfection only in southern Piedmont. Fleur Kinson follows the snuffling truffle-hounds and watches the wealthy vie for a nugget of gourmet gold.

In the milky half-light of early morning, in a thinly-wooded valley of slender birches and knobbly oaks, the dog snuffles excitedly over a particular patch of earth. We hold our breath. He had been intently nose-to-ground the minute he sprang from the farmer’s car, sniffing his way across half a mile of leaf-strewn grass. But this is different; something is definitely happening. Nose glued to the spot and tail waving madly, he starts digging. His owner steps in with a trowel and they dig together.

And then there it is, triumphantly held aloft between soil-covered fingers – a white truffle. It’s like seeing someone pull money from the ground. This is only a small one, about as big as a grape, but it’s still likely to yield its finder about €30. If he can find one as big as a lemon, he’ll get €300 or more. As big as a small pumpkin, and he’ll be looking at thousands of euros. Still wagging, the dog looks up at the precious find now lying in his master’s palm. “Bravo, Pluto! Bravissimo!” the man whispers with a grin and slips a truffle-oil-soaked sliver of bread into the dog’s salivating mouth.
I’m following a hunt for one of the world’s most expensive, subtle and mysterious foodstuffs, here in southern Piedmont where the uncontested best are found. Tuber magnatum pico, to give it its proper title. The legendary white truffle, often literally worth its weight in gold – and sometimes auctioned for much more. Chefs and gourmets around the world are dazzled by this uniquely pungent ingredient, and of course its rarity only heightens its appeal.


Far more aromatic (and ten times more expensive) than its cousin the black truffle, the white truffle is a subterranean fungus akin to a mushroom. Prized for its powerful flavour since ancient times, various supernatural theories explained its creation – most commonly that a truffle formed when lightning struck the ground. It’s now understood that a truffle grows very slowly in woolly filaments around particular tree roots. And it can’t be artificially cultivated, alas. Typically 10-15cm underground, the precious growth can be detected from above by only the very sharpest nose.
Which is where our canine friends come in. Popular imagination pictures pigs as the great truffle-snufflers, and indeed these animals do hunt truffles in France, but in Italy they only ever use dogs. Why? Because they’re easier to train. (And much easier to fit into the back seat of a car.) A pig will often quickly munch any truffle it finds, while a dog has better table manners and obediently steps back to allow his owner to scoop the trophy. A kind word, a morsel of flavoured bread, and man’s best friend is happy.
Trifolau – the Piemontese dialect word for truffle-hunters – usually hunt in the small hours when a truffle’s scent hangs strongest above the ground. They also appreciate the cover of darkness. With financial rewards so high and truffles so few, trifolau are keen to keep their discoveries private – especially as truffles are known to recur in the same spot. Subterfuge and trickery are rife. Shamefully, it’s not unknown for poisoned morsels of food to be left lying in wait for other hunters’ dogs, which is why truffle hounds wear tight metal muzzles. It’s not to stop them biting, it’s to stop them eating anything that might kill them.
A cold-season foodstuff, truffles are only available during the Italian autumn and winter, the hunting season lasting from November to early March. In southern Piedmont, that means crisp, clear days, the few remaining amber leaves rattling gently beneath an eggshell-blue sky. Beyond the rolling hills dotted with old castles and small medieval towns, a line of snow-peaked Alps are usually visible off in the distance somewhere.
When it comes to eating white truffles, it’s best to keep things simple. As an amiable restaurateur told me, “The truffle does not like grand theatre, it likes simplicity.” It is never cooked, nor even washed, just brushed meticulously clean. Then it’s shaved in paper-thin slices over mild-flavoured dishes such as poached eggs, pasta or risotto – instantly turning them into the food of the gods. The bland base-dish allows the full impact of the truffle to hit you, undiluted by other strong flavours.
Most of a truffle’s flavour actually lies in its aroma, which can be very heady indeed. Walk into a room where there’s a white truffle somewhere, and you’ll know about it. This is a smell so pervasive that it can leech through a hermetically-sealed plastic box to perfume whatever lies around (as I discovered after bringing one home in a professionally sealed container inside my suitcase, now full of truffle-flavoured clothes).
Each individual truffle has a slightly different balance of aromas and flavours– from a range including garlic, sweet hay, mushroom, honey, petrol, ammonia, spices and damp earth. Some gourmets talk of truffles smelling of human body odour, of sexual scents, even the smell of death. Never detected those last three myself! Perhaps your nose finds in a truffle what’s already in your mind.
The men trawling the pre-dawn and early morning fields with their trusty hounds care little for such gourmet pontificating. To the trifolau, white truffles are a livelihood not a luxury. They don’t eat anything they manage to find after hours of hunting, but hurry it to market instead. They might strike a deal with a local restaurateur, or find a truffle broker sent from abroad to snap up truffles for foreign restaurants. The precious finds might end up in the month-long public truffle fair in Alba, or the fabulous, exclusive auction in Alba’s medieval Castle of Grinzane Cavour – the glittering climax of the truffle season.
Alba’s truffle fair has been held every year since 1923, and draws huge crowds to this elegant, comfortable little town pitched in the heart of white-truffle country. It’s a fun and fragrant affair, with dozens of traders’ stalls displaying truffles laid out like fine jewels on velvet cloth inside glass showcases. As well as truffles, you can buy truffle-infused olive oil, truffle sauce, truffle-studded pâté, truffle vinegar, truffle butter, and truffle honey. When I stopped for an espresso, I half expected the option of truffle coffee.
The fair is full of locals, visitors, restaurateurs and chefs, all milling about and doing deals. I arrived with a single egg-sized truffle burning a hole in my pocket and went from vendor to vendor, surreptitiously asking what they might like to offer me for it. “Oh, it’s a very low-grade specimen,” one told me, “not worth more than €70.” “It’s premium quality,” whispered another, “I’ll give you €200 for it.” Sold! Fifteen minutes later the truffle was in the dealer’s case, the pricetag reading €280.
But for truly inflated prices, for unbeatably flamboyant truffle-dealing, there’s really only one place to be: the annual charity auction in the Castle of Grinzane Cavour – an exclusive, super-glitzy event attended by the international super-rich, and, um, a few scruffy journalists. In an ancient banquet hall in the heart of the castle, garrulous Italian celebrities brandish truffles on reverential silver platters, inviting bids from the glossy audience. We are told the name of the dog who found it, and under what type of tree. Two beauty queens pass amongst the seated crowd, offering sniffs of each truffle and, in true Italian style, a kiss for the successful bidder. The action is relayed by satellite to various cities round the world, and many bids bleep in by mobile phone.
Wholly fun and jovial, the atmosphere is of a refined carnival – never snooty or genuinely competitive. Everyone is smiling and enjoying the colourful game of it all. I watched about twenty truffles auctioned over the course of the morning, each one bigger than the last. The figures eventually reached six digits, with a 750g monster going for €145,000. How to recover from all that excitement? A good long lunch, obviously. Sucking a mouthful of magnificent Barolo from my glass, I watched the waiter slide a fat truffle over a special slicer and fragrant shavings drop down over my pasta. My nostrils filling with Piedmont’s glory, I thought ‘Yes, bravo Pluto. Bravissimo.’





A Macau casino mogul bid a record $330,00 at auction Saturday to win a giant white truffle dug up in Tuscany, organizers said.

Billionaire Stanley Ho made the winning bid for the 3.3 pound truffle during an auction staged simultaneously in Florence, London and at Ho's Grand Lisboa hotel in Macau, said auction organizer Giselle Oberti.

The price bested the previous record for a truffle of $212,000, she said.

The unusually heavy truffle was dug up last week by truffle hunter Cristiano Savini, his father Luciano and dog Rocco in Palaia, a town about 25 miles from Pisa. The Savinis said Rocco started sniffing "like crazy" when he zeroed in on the fungus.

Guinness World Records lists a 2.86 pound white truffle found in Croatia in 1999 as the biggest.

Truffles usually weigh from 1 to 2.8 ounces apiece. Slivers of white truffles, with their strong aroma, are prized in Italy to flavor pasta sauces and rice dishes.

Proceeds from the auction were to go to an Italian organization that helps sufferers of genetic diseases, a group that helps street children in London and Catholic charities in Macau.




Chef Umberto Bombana of the Ritz-Carlton hotel smells a huge Italian white truffle during a press conference in Hong Kong, Nov. 14, 2006. Gordon Wu, a Hong Kong property tycoon and his wife have paid US$160,406 for the huge Italian white truffle, expected to be the world's most expensive ever. Bombana will prepare the mushroom for a five-course banquet hosted by Wu on Thursday.

A huge Italian white truffle is displayed at a press conference at a hotel in Hong Kong Tuesday, Nov. 14, 2006. Gordon Wu, a Hong Kong property tycoon and his wife have paid US$160,406 for the huge Italian white truffle, expected to be the world's most expensive ever. Bombana will prepare the mushroom for a five-course banquet hosted by Wu on Thursday

Tuesday, October 6, 2009

The Allure of Lavender



French lavender essential oil can be used as an antimicrobial, antiviral and also a fungicide. It was used in wartime for antiseptic purposes, because when the oil was rubbed into a wound, the infection rate plummeted. Many people have used it over the centuries as a headache remedy, and it is also popular in aromatherapy as a tension reliever. This property makes it useful in muscle ointments, which is why it is so popular in massage therapy.

Over the years, mothers have made pillows for their babies that were stuffed with the blossoms because the essential oil they contained helped put the babies to sleep and wake up refreshed. Lavender bushes were planted beneath nursery windows so that on a sunny day, the fragrance would naturally waft into the child’s room. Even today, a popular item is the neck pillow stuffed with lavender that is meant to relieve tension.



Lavender Fragrance
The ‘lave’ in the word lavender is from the French, where ‘laver’ means ‘to wash.’ Lavender grows well in France, and most homes had an area devoted to growing the fragrant bushes. On wash day, maids would lay the linens over the bushes. As the sheets dried, the heat of the sun infused the aroma into the fabric, and the scent could be enjoyed for days. Lavender essential oil is still used to give a pleasant smell to many products today, including many toiletry items like perfumes, lotions and powders. Many household products also use lavender, such as laundry soap, dryer sheets and dishwashing liquid.




Lavender In Food
One of the very first uses for this versatile herb was for flavoring food. It is pleasant in desserts and also in savory dishes. It lends a delightful contrast to fruits that are sour. It is not recommended to use the pure distilled essential oil in food dishes, but flower buds can be used to give the right amount of diluted essence to the dish. Lavender tea is quickly becoming a favorite beverage. Adding a few blossoms to shortcake lends a pleasant and refreshing essence.

Wild About Saffron


The most precious and most expensive spice in the world: Saffron.
The Saffron filaments, or threads, are actually the dried stigmas of the saffron flower, "Crocus Sativus Linneaus". Each flower contains only three stigmas. These threads must be picked from each flower by hand, and more than 75,000 of these flowers are needed to produce just one pound of Saffron filaments, making it the world?s most precious spice.
But, because of saffron's strong coloring power and intense flavor, it can be used sparingly. Saffron is used both for its bright orange-yellow color and for its strong, intense flavor and aroma.
Crocus Sativus Linneaus contains crocin, the source of its strong coloring property, bitter-crocin, which offers the distinctive aroma and taste and essential oils which are responsible for its therapeutic properties.
Saffron is available both in filaments and powder, though the long, deep red filaments are usually preferable to the powder as the latter can be easily adulterated.
Today, the greatest saffron producing countries are Greece, Spain, Turkey, Iran, India, and Morocco.
The largest saffron importers are Germany, Italy, U.S.A., Switzerland, U.K., and France.


Greek red saffron or "Crocus", a pure product of the Greek agriculture, is considered the best in the world.
A precious spice, adds an exquisite flavor and color to food and drinks. It is also used in distilleries, dairy products and in numerous other applications.
A miracle of nature with a distinctive aroma and a honey-like taste, Saffron is the world's most expensive and unique in its origin. Saffron is the dried stigmas of the flower crocus.
More than 50,000 of these stigmas are needed to produce just 100 gr of red Saffron.
Greek saffron, has a coloring strength of 256, verified by laboratory reports, which is 45 points higher than the minimum international standard for all saffron.



It was not defined well when saffron cultivation began, but it is believed that this might have happened during Prehistoric Greek times.
The excavations in Knossos, Crete, brought to light some frescoes where saffron is depicted.
The most famous of these frescoes is the "saffron gatherer", where it was depicted that there was a monkey amongst the yellow saffron flowers.
Etymologically, the word crocus has its origin from the Greek word "croci" which means the weft, thread used for weaving on a loom

Mythologically, according to Ovidius, the plant took its name from the youth Crocus, who after witnessing in despair the death of fair Smilax was transformed into this flower.

Known since antiquity, saffron it was one of the most desired and expensive spices of ancient Greeks, Egyptians and Romans for its aroma, color and aphrodisiac properties.
It was quite popular among the Phoenician traders, who carried it wherever they traveled. The ancient Assyrians used saffron for medical purposes.
Hippocrates and other Greek doctors of his time, like Dioskourides and Galinos mention crocus as a drug or a therapeutical herb.
From the writings of Homer who calls dawn, "crocus veil", Aeschylus, Pindaros, and others, we know that the crocus was considered a rare pharmaceutical plant of ancient Greece with unique properties. It is referred throughout ancient history and in the course of many medical writings of the classical Greek and Roman times all the way to the Middle Ages.
Another saffron use in ancient Greece was that of perfumery.
The history of red saffron in modern Greece starts in the 17th century when traders from Kozani, Macedonia, brought the red saffron from Austria.
For 300 years, Greek red saffron is systematically cultivated under the warmth of the Greek sun, in the rich soil of a unique area including many small towns of Kozani in West Macedonia.

Volunteering : Cocoa catwalk: sweet sacks for designer






10 July 2008 - Cocoa runs in the family of Ivorian fashion designer Felicite Mai.It was her father, a tailor-turned-cocoa planter, who gave her her first sewing machine, a model dating back to 1952.
This sewing-school graduate has been turning out eye-catching outfits made from the jute sacks used to ship Ivory Coast''s top export - cocoa.
From her humble shop in the popular Treichville suburb of the economic capital Abidjan, Mai designs, cuts and fits clothes for men and women that use the natural beige colours and coarse fibre of cocoa and coffee sacks.
Normally stuffed to bursting with the cocoa beans that make Ivory Coast the world''s No. 1 grower of the source of chocolate, Mai''s creations are worn by a growing clientele of celebrities, artists and musicians, some even from abroad.
"Ivory Coast''s economy is based on agriculture, especially cocoa and coffee. So I decided to promote these crops by creating these fashion designs," said Mai, whose real name is Maimouna Camara Gomet.
"For me, it''s a way of drawing the whole world''s attention to cocoa and coffee," she said.
Proud to wear her own designs, she sports a beige cut-off top with a frayed fringe, made from a jute sack, over blue jeans, a tape measure draped around her neck.
Her creations -- for both men and women -- include skirts, tops, trousers, shirts, waistcoats as well as caps, bags and accessories, mostly in the natural beige of the washed jute sackcloth, but sometimes also dyed darker brown or blue.
"PRODUCT OF IVORY COAST"
Her models say the "sack clothes" look good with traditional jewellery and ornaments, such as the cowrie shells that were the common currency of the West African coast during past centuries of the Atlantic slave trade.
Mai buys the sacks -- some stamped with the words "Product of Ivory Coast, Cocoa" -- from warehouses at Abidjan''s bustling port. The jute material is washed and cut at her Treichville workshop, where a wax mannequin is used to help with fittings.
"I had this idea from when I was still at sewing school in 1987. Then I opened my own workshop in 1996 and I first launched these kind of designs in 2003 during a fashion contest at Divo (in the south of Ivory Coast)" said Mai, who has several assistants at her shop.
"My father was a tailor and he made jackets for the colonial settlers," she said, referring to Ivory Coast''s former French colonial masters.
"Then he became a coffee and cocoa planter," she added.
Mai hopes that her sack fashion designs can serve as an attractive, enduring advertisement for her country''s best known products -- cocoa and coffee.
"That was the livelihood of our parents," she said.