The Easel

What’s Sold at Art Basel in Basel

The spring art auctions in New York this year were mildly disappointing. Last week’s Art Basel fair was thus an important test of the market’s direction. Some 4000 artists were on display with works valued at $3.4bn. Overall it was a moderate success. “[W]e were on fire” boasted one dealer; others were perhaps more subdued. Will the market regain its previous exuberance? “The consensus remains that it will not”.