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Basel Switzerland hopes to rev up art market with blockbuster art

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...