After Rocky May Auctions, the Rich Roll the Dice at Art Basel
When the Swiss edition of Art Basel opens to VIPs on June 17 (public days are the 19th through the 22nd), Pace gallery's booth will feature a 6-foot-tall Picasso priced 'in excess of' $30 million.
Oftentimes, with a work this expensive (and even far less expensive), galleries do their utmost to secure a buyer well before the fair opens, soliciting offers in a phenomenon known as preselling. The fair opens, the collector shows up, and the work is officially sold then.
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