Art Basel Attracts Abramovich, Kilmer, Millions
The exclusive opening of Art Basel – for the most serious buyers – had the desired effect. The most famous art show in the world attracted the likes of art collector Roman Abramovich (however much it may be at the behest of his squeeze) and fetched some major sales, including $15 million for a sculpture by Pablo Picasso. So, who joined Abramovich in scratching the art itch ... one that's been hard to scratch since the art market collapsed in 2008? Well, Val Kilmer, Peter Brant and Laurence Graff were among the elite.
Prices haven't returned to 2007 levels, noted art dealer Nicholas Maclean to Bloomberg News, but he added that the top stuff is selling well. This doesn't exactly defy common sense, of course. There are 303 galleries at Art Basel this year, and they're all hoping to ride this wave.
A Christie's International auction in Paris the day before Art Basel started set the tone for the affair. A sculpture by Amedeo Modigliani moved for $53 million, setting a record for the French auction market.
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