Art Basel 39: Wrap Up

Once again, I apologize for not having updated over the weekend. There are some places in this world where internet does not exist, the house I stayed at for the weekend being one of them.

So, a summary of the eventful week in Basel:

• American buyers were not prevalent thanks to the weak dollar. However, dealers commented on the number of Russian buyers. And American dealers reported selling to more Europeans thanks to the lack of Americans.
• Roman Abramovich purchased a Giacometti bronze entitle “Femme de Venise I” (1956) for $14 million from Krugier.
• Dealers brought good quality pieces to show and reported that buyers were interested in blue-chip artists.
• As auction prices soar, many collectors commented on the reasonable prices in the primary market.
• Works did not fly off the walls as soon as the vernissage opened, as has been the trend for the past few years. Instead, sales were paced and carefully considered, though still strong.
• The print galleries reported good sales, especially those who branched out into editioned sculptures.
• Brad Pitt dropped close to $1 million at Design Miami/Basel, with Mr. Abramovich following close behind. The two were seen chatting in the VIP lounge of the fair. In other star news, Sofia Coppola and Owen Wilson were at the vernissage of Art Basel 39.
• Takashi Murakami was spotted all around Basel in the limited time he was there. From Art Unlimited at the main fair to the Volta Fair to a dinner held in his honor. He was particularly interested in adding to his contemporary art collection, mentioning an interest in works by Anselm Reyle and German art of the 1980s.

New Department at Phillips

Phillips de Pury has a new department: Modern and Contemporary Editions. The inaugural sale is this evening in New York. Up for sale tonight are a variety of prints including a Matisse, a Braque, a Duchamp and a Miro as well as some Warhols from the Dr. John Driscoll collection. There are also some classic modern printmakers and some more contemporary artists represented. And, of interest to me, are a set of 16 offset lithographs by Murakami made in 2001 of some of his most iconic imagery (jellyfish eyes, Mr. Dob, reversal DNA, And then and then and then and then, Kaikai & Kiki, etc).

It’s interesting that Phillips is expanding their small amount of departments at this time. Especially when the print market hasn’t grown much over the past 18 years according to Art Market Research.

But I wish them the best of luck. Not that they need my luck when they have Will Ferrell’s luck on their side:

Photo courtesy of www.phillipsdepury.com