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No rest for art collectors as they snap up pieces at Art Basel Miami

Some dealers almost sold out at event preview; many galleries brought in more works to replace early sellers

Published Wed, Dec 10, 2014 · 09:50 PM
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DOMINIQUE Levy, whose namesake gallery sold more than two-thirds of the works in her booth at Art Basel Miami Beach, has said that the fair attracts collectors who are looking to spend US$100,000 to US$1 million.

Some spent far more than that as the five-day fair ended on Dec 7 with dealers reporting robust sales. The works in Levy's booth went for prices ranging from US$75,000 to US$3 million. A painted, three-foot-tall sculpture made of crushed car metal by John Chamberlain sold for US$3 million at Mnuchin Gallery. One of Damien Hirst's giant mirrored medicine cabinets at White Cube fetched £4 million (S$8.23 million).

Collectors didn't take a breather at the 13th edition of the largest contemporary art fair in the US following record auctions in New York last month, in which US$2.3 billion of art was sold. Some dealers reported almost selling out the works in their booths at the Dec 3 preview for select guests. Many gal…

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