Laurence Graff Buying and Selling at Tefaf

by Deidre Woollard (RSS feed)
Mar 13th 2009 at 8:02PM

Another year of The European Fine Art Fair (better known as Tefaf) in the Netherlands and diamond kingpin Laurence Graff is already buying and selling. Bloomberg reports that he sold an emerald-cut white diamond, of about 30 carats for $5 million to a U.S. client. Not bad, although last year bang Graff sold a 70-carat yellow diamond out of their booth for around $11 million. Graff also spent some money at Tefaf picking up one of Jean-Michel Basquiat's boxer paintings for 3.5 million euros ($4.5 million).

This year there are a record 239 dealers offering over $1 billion worth of art ranging from Old Master paintings to silver, ceramics and contemporary art. The sale runs from March 13 to March 22. All the works are of the highest quality, Art Daily reveals that there are 25 committees made up of 155 experts who ensure quality, condition and authenticity. The entrance hall in the exhibition is decorated with thousands of flowers for an impressive display. Many are hoping that after the huge results earned by the Yves St. Laurent sale in Paris, collectors are once again in a spending mood.

Tags: basquiat, diamonds, laurence graff, LaurenceGraff, tefaf