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Art Basel enjoys 'steady hum of business' at its 47th edition

Sales are being watched closely this year after May auction in New York falls by more than 50% from May 2015

bend it (remodeled) by Australian artist Gerwald Rockenschaub on display at Unlimited, Art Basel's pioneering exhibition. Insurer Axa Art estimates that as much as three billion euros of works will be on view this week.

New York

THE rain and falling stock markets failed to spoil collectors' shopping mood during the opening hours of Art Basel, the world's biggest modern and contemporary art fair, on Tuesday in Switzerland.

Jet-setters and billionaires waited in long lines underneath umbrellas to...

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