Graves remained productive during his tenure with the Rangers, being a consistent 20 to 30 goal scorer until the 1999–2000 campaign. Although the Rangers would not return to the hey-day of their 1993–94 campaign, Graves remained one of the team's most popular players. After winning the Bill Masterton Trophy in 2001, he was traded to the San Jose Sharks in exchange for Mikael Samuelsson and Christian Gosselin. Graves played with the Sharks organization for two years, totalling 49 total points, before announcing his retirement in April 2004.