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The global art market appeared to collectively sigh with relief as deep-pocketed collectors descended on Art Basel this week after two years of dwindling sales. The world's biggest contemporary art fair opened to the public Thursday, but VIPs got an advance peak at the vast array of artworks for sale. They range from 20th-century masters like Pablo Picasso to today's cutting-edge creations.Nearly 300 galleries representing more than 4,000 artists from around the world have put their best goods on display at the show, which has become unmissable for sellers and collectors alike.The gallery also had Jean-Michel Basquiat's painting "Baby Boom" on reserve, the asking price a smooth $32 million.While the high-end galleries and the top artists are raking in sales, they acknowledge that the entire market is not faring as well.
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