ArtBasel’s preview opens tomorrow with the usual high-level of gallery presence—including 15% of the 300 galleries having just shown at ArtHK—and, according to Scott Reyburn’s Bloomberg preview, the top end of the market will include 10 different works averaging $100m in insured value:
The total value of the works insured this year is about $1.75 billion, said Robert Read, head of art and private clients at Hiscox Ltd. (HSX)That’s higher than last year, with the 10 most expensive works accounting for $1 billion, Read said.
Warhol, Rothko to Tempt Buyers at $1.75 Billion Biggest Art Fair in Basel (Bloomberg)
