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Globalisation on the art market

The Italian daily comments on the Art Basel art show. "If the art market is going mad at present, then for now the epicentre of that madness is the little city that lies on the border with France, Germany and Switzerland in the heart of old Europe. It is the centre of a global pilgrimage. Art Basel is the queen of art shows. ... It attracts 60,000 visitors over four days. The nouveau riches of globalisation are all there: Russians, as well as Chinese and Indians this time. It is thanks to them that art prices are soaring. To augment their prestige they pay immense sums for the big names they put on display at their residences. ... Only one of the works of Jeff Koons, the last Epigone of pop art and best-paid artist in the world, is on display. It consists of six basketballs in a glass showcase and costs the modest sum of 1.7 million dollars. Why? That remains a mystery. The secret rules of the art market are fashion, trends and financial manoeuvres."

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