As opening day sales at Art Basel soar, the art market bubbleis getting fatter.
This year’s fair boasts $US3.4 billion worth of art for sale in the Swiss city of Basel.
Artnet reports that multimillion dollar works sold like gangbusters in the fair’s first few hours. “I haven’t had such a good day one at Basel in 10 years,” New York dealer David Nolan told the website.
Here’s a look at the galleries and artists who are raking in millions, as well as some really cool art you need to see.
Works by British artist Martin Creed are a hot item at Basel. A four-minute film he created in 2013 sold quickly for $65,000.
According to Artnet, a $5.5 million Christopher Wool piece was sold by New York's Van de Weghe Gallery in the first half hour of Basel's opening day.
'Untitled (SC5)' by Christopher Wool.
Not everything at Basel is for sale. Artist Julius von Bismarck is doing performance art on this rotating platform. The work is called 'Egocentric System.'
An Alberto Giacometti sculpture sold at auction for a record-breaking $140 million earlier this spring, so this work by the famed artist got a lot of traffic on opening day.
Saudi Arabian artist Maha Malluh's 'Food for Thought Almuallaqat' exhibit centres on the idea that food brings people together.
Leonardo DiCaprio was spotted puffing an e-cigarette and palling around with art dealer Larry Gagosian at Basel. Apparently he had his eye on works by Takashi Murakami, George Condo, and Pablo Picasso.
A visitor steps in front of 'Enso: Asura' by Takashi Murakami.
This work by Kaddia Attia, ironically titled 'Beginning of the World,' references the universe and its constant state of repair.
Hauser & Wirth gallery sold this stuffed animal mashup by Detroit-born artist Mike Kelley for an undisclosed amount.
At Art Basel Hong Kong, which took place in March, Gwyneth Paltrow was seen eyeing works by Jean-Michel Basquiat.
Visitors view a painting by artist Jean-Michel Basquiat