Katya Kazakina’s brief story on the social epicenter of ArtBasel is probably the best piece of journalism to come out of the fair. These quotes sum up the story:

• “A third of the deals during Art Basel are done on the terrace of the Three Kings,” said Marc Porter, chairman of Christie’s Americas. Picasso, Stones Established in 1681, the Three Kings is one of the oldest luxury hotels in Europe.

• “It’s cool, beautiful and elegant,” said Sabine de Gunzburg, a Paris-based collector and rug designer who’s been staying at the same junior suite facing the river for 13 years. “It’s good for connections.”

• Scoring a room isn’t easy. Collector Jean Pigozzi has been unsuccessful for years. “I finally gave up,” Pigozzi said. “It’s impossible to get a room here.”

• “I was up all night because of the bam-bam-bam downstairs,” said Kim Heirston, a New York-based art adviser. “I would like my Trois Rois a little quieter.”

Art Basel’s Billionaires, Dealers Mix After Dark at Three Kings (Bloomberg Business)