"Gallerists have bet big on Art Basel Paris, and for the most dominant players this has already paid off. By the end of the fair's new VVIP slot Tuesday afternoon (21 October)-instated to prevent overcrowding, improve visitor experience and, organisers hoped, boost sales-several of the biggest art dealerships sent out email blasts with hefty figures attached. Leading the pack was Hauser & Wirth, which reported well over $30m in sales, most notably Gerhard Richter's Abstrakte Bilde (1987) for $23m,"
"The new preview slot, titled Avant-Première, is "a very smart idea that delivered on all fronts", says Marc Payot, the president of Hauser & Wirth. Liza Essers, the owner of Goodman Gallery concurred. "It's a game changer. We were able to have meaningful conversations and are grateful for that moment." She sold two works by William Kentridge to two different museums at Tuesday's preview-a film to the Louisiana Museum in Denmark for $450,000 and a work on paper to an undisclosed US museum for $550,000."
"Others wished the opening had seen even fewer attendants. Iwan Wirth, the co-founder of Hauser & Wirth, said the fair still "needs to be fine-tuned" while Philomene Magers, the co-founder of Sprüth Magers, said it was "too dense, too crowded". Still, this did not impede her gallery from placing two paintings by George Condo for $1.8m each, with private collectors in the US and Europe. The sales coincide with the artist's ongoing exhibition at the Musée d'Art Moderne de Paris."
Art Basel Paris introduced a VVIP preview slot, Avant-Première, aimed at reducing overcrowding, improving visitor experience and boosting sales. Several leading galleries reported high-value transactions: Hauser & Wirth reported well over $30m including Gerhard Richter's Abstrakte Bilde (1987) for $23m, and David Zwirner reportedly sold a Ruth Asawa sculpture for $7.5m. Goodman Gallery placed two William Kentridge works with museums for $450,000 and $550,000. Sprüth Magers sold two George Condo paintings for $1.8m each. White Cube and Karma also posted significant sales. Market activity remains more measured than past frenzies.
Read at The Art Newspaper - International art news and events
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