[1/4] People pose in front of the sculpture "Naughtynightcap" from 2008 by artist John Chamberlain at the Art Unlimited exhibition at the Art Basel art fair in Basel, Switzerland September 21, 2021.
Noah Horowitz, who became Chief Executive of Art Basel in November said that an extraordinary amount of people from Asia have travelled to this year's flagship Art Basel fair.
China's art market, the third largest in the world, had reported a steep decline in sales in 2022, with lockdowns stalling activity and cancelling art auctions and events, according to the 2023 UBS Global Art Market Report.
"The art market compared to the financial market is completely different – it is very opaque, it is not transparent and there are limited sources of data," she said.
Art Basel is open to the public until Sunday.
Persons:
John Chamberlain, Arnd, Mark Rothko, Noah Horowitz, Joost Bosland, Stevenson, Bosland, Patricia Amberg, Noele Illien, Sandra Maler
Organizations:
Art, REUTERS, Art Basel, Basel, UBS Global Art, UBS, Thomson
Locations:
Art Basel, Basel, Switzerland, ZURICH, Swiss, Asia, South Africa, Netherlands, China