Graff Diamonds Corp. shelved a $1 billion initial public offering in Hong Kong as Europe’s debt turmoil drives first-time stock sales to the lowest level since the collapse of Lehman Brothers Holdings Inc.
U.K. jeweler Laurence Graff sold a diamond for $5 million and bought a Jean-Michel Basquiat painting for 3.5 million euros ($4.5 million) yesterday as the world’s largest antiques and art fair opened in the Netherlands.
Christie’s sold $134.6 million of contemporary art in New York in an hour as international buyers from 26 countries chased after works including Andy Warhol’s electric chair silkscreen and Martin Kippenberger’s slouching man in his underwear.
Negotiators may be able to agree on ways to adapt to climate change, transfer technologies and slow deforestation when they meet next month in Cancun, Mexico, a senior European Union official said today.
Christie’s was propelled to its biggest auction ever by selling $745 million worth of art, fueled by Barnett Newman and Francis Bacon paintings and billionaires from around the world who competed for the masterpieces.