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malaysia art baselThere was some sort of an exodus of art buying at the recent Art Basel in Basel, Switzerland. Dealers are reporting that there was a frenzy of buyers in the first few hours of the opening. In fact, one said that this has been the best Day One at the fair in the last decade.

In the first hour alone, a Christopher wool canvas was sold for $5.5 million by the Van de Weghe Gallery while the Skarstedt Gallery sold a Keith Haring piece for about the same price. There was a pre-preview VIP breakfast at the courtyard before the show but that might not be the influencing factor on why sales was so good.

With about 300 exhibitors involved in what is known as the ‘Olympics of the Art Scene’, some claimed that it was like a tsunami and felt as if galleries were giving stuff away that attracting so many ‘receivers’.  Besides names like Peter Brant and Ulli Sigg who are among the top global collectors, celebrities like Leonardo DiCaprio who is no stranger to Art Basel was spotted as well.

Besides several Picasso works being sold, other names that were moving about in the sales market include Lee Ufan, Reena Spaulings and Karen Klimnik, just to name a few.

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