Subscribers

Basel Switzerland hopes to rev up art market with blockbuster art

Published Wed, Jun 15, 2016 · 5:50 am
Galleries are bringing works by artists who had strong performances at auctions, such as Jean-Michel Basquiat's "Untitled", which fetched US$57.3 million at Christie's last month.

New York

JACKSON Pollock's US$25 million drip painting and Gerhard Richter's US$20 million abstract canvas are expected to lure billionaires, including Paul Allen and Eli Broad, at the world's largest modern and contemporary art fair this week in Basel, Switzerland.

The throng of international collectors is descending on the quiet Swiss town for Art Basel, whose 47th edition opened on Monday with a showcase of gigantic works, including a full-scale Chinese house frame by Ai Weiwei.

...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes

Wealth & Investing

Australia’s First Sentier shuts A$14b of funds after growth disappoints

Investors in US stocks set to demand more dividends

Paradox of high interest rates and a resilient economy

At 5% yields, investors find it’s worth paying for actively managed bond funds again

A more reliable way to get enough investment returns

Inflation, interest rates and oil prices have jolted the markets

Breaking News

Most Popular

Purchase this article