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Art Basel Recap
June 13, 2012

BASEL, SWITZERLAND— The Art Basel main fair opened to VIP guests on Tuesday amidst a splurge of early sales. Despite recent concerns about the stability of the red hot art market, galleries generally did very well, appealing to elite clients by offering larger, pricier items that were likely chosen to rival auction-house offerings.

Marlborough Fine Art had the fair’s most expensive asking price— $78 million for a Rothko painting, Untitled 1954. The Marian Goodman Gallery sold a Gerhard Richter in under two hours, and L&M Fine Arts got $2 million before lunch for a 1967 Frank Stella drawing. Matthew Marks Gallery shed paintings and sculptures by Ellsworth Kelly, Rebecca Warren, and Katharina Fritsch. The New York D’Amelio Gallery is exhibiting the conceptual creations of Cady Noland, the world’s most expensive living female artist, whose work recently went for a sales-room record of $6.6 million.

A day of dramatic sales concluded with an evening performance by Belgian artist Filip Gilissen the satellite fair Liste. The piece featured a 1,000 light bulb sculpture that reads, “it’s all downhill from here” slowly being lifted into the air above the city by a crane. The piece flashed in the night sky until 7am.

Image courtesy of Art Basel 43


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