Art Basel opens with $35m Picasso and strong blue-chip sales

On June 17, 2026, Art Basel's VIP preview showcased robust seven-figure transactions, indicating a solid confidence in the art market. Director Vincenzo de Bellis highlighted a growing trust among both exhibitors and collectors. The standout sale was Pablo Picasso's Le peintre et son modèle dans un paysage (1963), which fetched $35 million from Hauser & Wirth, who also sold pieces by Cy Twombly, Louise Bourgeois, Maria Lassnig, and Nairy Baghramian. Thaddaeus Ropac achieved sales of over $3 million each for works by Pierre Soulages and Helen Frankenthaler. White Cube sold Lynne Drexler for $2.5 million and Doris Salcedo for $1.25 million. Almine Rech sold Picasso's Satyre, Pan et nymphe (1938) for $6 million to $6.5 million, alongside additional works by Isa Genzken, Lynda Benglis, and David Hockney.