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The new edition of Art Basel 2026 opens under the sign of essentiality, confirming the solidity of European collecting. Despite recent global uncertainties, the trend of the art market shows signs of recovery with million-dollar transactions from the early hours of the Basel fair.
How is the global market changing?
The data published in the latest report by UBS indicate that the global art market records a growth of 4%. Moreover, the recent auctions in New York last May confirm this positive trend.
However, the sector is experiencing a phase of structural reorganization. The recent rumors about the Pace gallery, spread before the opening, have raised some concerns among operators. That said, the Swiss pavilions have recorded a continuous influx of buyers, especially Europeans.
What are the most expensive sold-out masterpieces?
The sales of the opening day confirmed the interest in historical works of great importance. For example, the gallery Thaddaeus Ropac immediately recorded six and seven-figure transactions.
Notable is the sale of Peinture 146 x 97 cm by Pierre Soulages for about 3 million dollars. Added to this is a painting by Helen Frankenthaler, exchanged for the same amount. Furthermore, a work by Lucio Fontana was sold for 1.8 million euros.
The main protagonists of the ground floor
In contrast to the previous year, record quotations did not take long to appear. At the Hauser & Wirth stand, an en plein air painting by Pablo Picasso from 1963 was sold for 35 million dollars.
Additionally, David Gray sold an interior by David Hockney for 8.5 million dollars. The Italian Alighiero Boetti also shone thanks to the Tornabuoni Arte gallery, which immediately sold an embroidery from the Tutto series.
Massimo De Carlo confirmed that the general climate invites caution, while still showing excellent signs. The gallery sold three works by John Armleder and a work by Pietro Roccasalva for amounts ranging from 50,000 to 130,000 euros.
| Artist | Work | Price / Valuation | Gallery |
| Pablo Picasso | En plein air painting (1963) | 35,000,000 $ | Hauser & Wirth |
| David Hockney | Studio Interior #2 | 8,500,000 $ | Gray |
| Pierre Soulages | Peinture 146 x 97 cm | 3,000,000 $ | Thaddaeus Ropac |
| Helen Frankenthaler | Sudden Wave | 3,000,000 $ | Thaddaeus Ropac |
| Lucio Fontana | Concetto spaziale, Attese | 1,800,000 € | Thaddaeus Ropac |
Who are the stars of the ultra-contemporary?
The fair is not only about historical masters. Among the new proposals, Gladstone presented a canvas by Yoseph Yaeger sold for 477,300 dollars. Meanwhile, David Zwirner exhibited a recent painting by Victor Man.
Overall, very young artists continue to generate extremely rapid transactions. Often their works are sold faster than the historical masters of the twentieth century, demonstrating strong speculative demand.
How do Italian galleries position themselves?
The Italian presence is confirmed as solid and distributed across all the main sections of the Swiss fair. In addition to historical names, several national galleries have proposed high-level curatorial projects.
For example, the Bologna-based P420 received excellent feedback from international institutions. The department of the Centre Pompidou expressed strong interest in the installations by Adelaide Cioni and June Crespo.
The debuts and historical celebrations
Mazzoleni celebrated its forty years of activity with a multidisciplinary project. The gallery exhibited a suggestive white modular structure created by Agostino Bonalumi in 1970 for the Venice Biennale.
However, the debuts also achieved great scientific and commercial success. The Berry Campbell gallery, in its first year in Basel, sold historical works by abstract expressionist artists for over 500,000 dollars.
Overall, Art Basel 2026 reaffirms its role as the undisputed capital for the world’s contemporary art. Despite global strategic changes, the Swiss city maintains its ritual charm, attracting important European art collectors.
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As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.
