AO on site Photoset: Art Basel 42 Vernissage and VIP preview
Tuesday, June 14th, 2011
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…