Following the Sotheby's recent sale of Jean Michel-Basquiat's untitled painting from 1982 for a record-shattering USD $110 million, there is a proliferation of significant Basquiat paintings on offer at Art Basel this year. Julia Halperin of Artnet News has posted a summary of all of the Basquiat works that dealers have brought to Basel for this year's fair. The combined asking prices for all eight works tops USD $89 million. Notably, several of the works have been sold publicly within the last several years and are now being re-offered with precipitous price increases. For example, the painting "Baby Boom" is being offered by Lévy Gorvy for USD $35 million, which represents a 2,900% price increase since it was auctioned at Phillips in 2001.
Today marks a major shift in the art world ecosystem with the announcement that Brett Gorvy, chairman and international head of postwar and contemporary art at Christie's, is leaving the auction house to join private dealer Dominique Levy. Gorvy has been responsible for a string of recent record sales at Christie's, including Picasso's "Les Femmes d'Alger ($180 million) and Modigliani's "Nu Couche" ($170 million).