Art Basel 47th Edition opens to a long line of umbrella-wielding VIPs

Despite the steady rain and premonitions of a faltering art market, the 47th edition of Art Basel, Europe’s premier modern and contemporary art fair, opened to a long line of umbrella-wielding VIPs who quickly scooped up a broad range of offerings.

At Paris-based Chantal Crousel, a new diptych by Wade Guyton, “Untitled,” in Epson Ultra-Chrome K-3 Inkjet on linen and measuring 128 by 108 ¼ inches, sold in the opening moments of the preview for $600,000 to a French collector. The image, inspired by Guyton’s 2001 “Altered Steel Chair” sculpture, which he deconstructed from a found Marcel Breuer “Cesca Chair” from 1928, depicts the stripped-down and largely unrecognizable skeletal frame set against a grainy abstract background. As at last year’s fair, Guyton parceled out iterations of the identical image to four other galleries that represent him in various parts of the world.

 Next door, the L.A./New York gallery Blum & Poe sold Julian Schnabel’s large 1990 abstraction “Painting Without Bingo II,” in oil on distressed army tarpaulin, for around $350,000 to a European collector. “He has such a deep collector base in Europe, we sold it in the first minute,” said founding co-partner Jeff Poe. “Schnabel’s influence is insane and needs to be brought to the forefront.” Massimo De Carlo, of London, Milan, and Hong Kong, sold a primary market, previously unexhibited Rudolf Stingel patterned abstraction from 2014 for somewhere around the $1.8 million asking price, also to a European collector.

Source: Sales Report: Art Basel 47 Gives No Cause for Concern

Author: Art OnLine

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