Iwan Wirth at Hauser and Wirth

Art Observed is on site this week for Art Basel 42, the world’s largest contemporary art fair.  Art Observed was on site for the VIP vernissage of the main fair.  Officially the fair opens Wednesday, with a duration of 5 days from June 15th to the 19th.  Roughly $1.75 billion of artwork is reportedly for sale by 300 galleries from 35 countries at the fair this year.  Initial energy from the fair can be gauged to be very brisk with many gallerists reporting healthy buying activity.  Already mega-collectors such as Eli Broad and Dasha Zhukova, girlfriend and partner of Billionaire collector Roman Abramovich were spotted at the fair as was actor Will Ferrell.   Bloomberg reported that a 1969 Mark Rothko abstract was sold by L&M Arts for over $5 million.  More coverage of events from Art Observed will follow this week.

more images after the jump…

Erwin Wurm Daunenjacke (2011) at  Thaddaeus Ropac’s Booth

White Cube Gallery

Damien Hirst’s Nothingness (2008) at White Cube Gallery

Antony Gormley at White Cube Gallery

Christian Marclay Echo (1993) at White Cube Gallery

At Cheim & Read

Jonathan Lasker, Reasonable Love (2007) Cheim&Read Gallery

Hans Hartung, Cheim&Read

Jenny Holzer Ribs (2010), Gallery Cheim & Read

Bruce Nauman Trust Me Only Big Studio (1984)

McKee Gallery, New York

Jeanne Silverthorne Untitled (2011), McKee Gallery, New York

McKee Gallery, New York

Works at L&M Art NYC

Cindy Sherman Untitled 316 (1995)

Gallerist Daniel Templon

Jean Fabre The Brain of a Messager of Death (2011), Galerie Daniel Templon

Galerie m Bochum

Maurizio Cattelan’s Frank and Jamie

Works by John Currin at Gagosian Gallery

Annette Messager Mes voeux sous filets (1997)

At Matthew Marks Gallery

Matthew Marks (Right) at Matthew Marks Gallery

Tony Cragg Lost in Thought (2011)

Thomas Houseago Yet to be titled (large head 1) (2010)

Two Antony Gormley works at Thaddaeus Ropac Gallery

Song Dong Cut and Read Indian (1999)

Ron Mueck Youth (2009), Hauser and Wirth

Robert Gober Untitled (2008), Matthew Marks Gallery

Richard L.Feigen & Co, New York

Paul McCarthy, L&M Arts, NYC

Paul McCarthy, Hauser and Wirth

Michel François Instant Gratification (2011)

The crowds at the entrance

The view from outside the fair

Art Basel – Main Website

Abramovich’s Partner Browses Basel; $5.5 Million Rothko Sells in VIP Spree [Bloomberg]

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