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.
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.
Graff Diamonds Corp., the London- based jeweler founded in 1960, plans to open 11 new stores in Asia, including eight in China, in the next two years after a $1 billion initial public offering in Hong Kong.
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.
Graff Diamonds Ltd., the jewelry retailer whose founder twice set records buying gems at auction, plans to use funds from a proposed share sale to add stores in Asia as the region’s demand for luxury goods grows.