Amongst the jewellery collection of Laurence Graff are those rarest of precious gems. Jewels with history and mystery, around which empires have risen and royal unions forged and betrayed. Diamonds such as the Porter Rhodes, the Golconda 'D' and the Imperial Blue are the ultimate prizes of the earth, representing everything that collectors and dealers work towards throughout entire careers. Indeed, to the most devoted of collectors, their acquisition is seen as the raison d'etre.

In Geneva, a nameless blue diamond was the subject of one of the most competitive auctions ever known to the international trade. As dealers and collectors bid enthusiastically against one another, it must have been disconcerting for some to observe Laurence Graff watching the proceedings with an air of detached confidence. Following the sale, the press described the diamond as 'the world's most expensive stone'. One week later, Graff announced the release of his own blue diamond, the 'Graff Imperial Blue' - at 39.31 carats, the largest flawless fancy blue diamond in the world, significantly more valuable than the blue which had caused such an unprecedented commotion at the Geneva auction.