At Art Basel, Dealers Reap Rewards By Sidestepping Politics and War

About halfway through the opening day of Art Basel's fair in Switzerland, the dealer Larry Gagosian was sitting on a bench near his booth. Crowds—incredibly thick when the art fair opened to VIPs at 11 a.m.—had dispersed a bit as grandees shuffled into the convention center courtyard for lunch, queuing up for sausages, oysters and ice cream cones.
Gagosian, though, seemed content to stay inside, overseeing a presentation that included an early Cy Twombly painting priced at over $30 million. 'We've sold quite a few things, considering the state of the world,' he said. 'I'm encouraged that initially we've been doing quite a bit of business. We live in a crazy time, and I think that a lot of people want to take refuge in some other universe.' (Art Basel's VIP days end June 18; public days are June 19–22.)

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