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He earned more Olympic medals than any figure skater in history. In 1920, the six judges gave Grafström a unanimous victory. In 1924, he edged Willy Böckl for a second gold medal and in 1928 he won an even narrower victory over Böckl for a third. Finally, at the 1932 Olympic Games in Lake Placid, the 38-year-old Grafström was dethroned by Karl Schäfer. However he did win the silver medal to become the only figure skater to win four medals.