Picasso goes for US$35m at Art Basel as global art market rebounds with strong demand for top-tier works

AI Summary

The Swiss art fair Art Basel opened this week with robust sales activity, attracting significant collector interest despite ongoing global economic and geopolitical challenges. Notable transactions included a Picasso work reaching $35 million and a David Hockney piece selling for $8.5 million, demonstrating continued appetite among buyers for established premium artworks.