At London Fairs, Picasso, Basquiat lead, swell billions worth of art sales

As the fairs, including world’s biggest Frieze, closes on Sunday, works by Picasso, Basquiat and de Kooning were said to have sold for more than $4 million as collectors took their pick of as much as $2 billion worth of art in London. 

The Frieze Masters event or Frieze Week described as ‘the art world’s largest public sales and dealership of modern and contemporary art' recorded much of the sales, sources disclosed.  During the Frieze Masters sales for VIPs, held in Regent’s Park on October 15, sources said “New York-based Acquavella Galleries sold Picasso’s 1961 painting Femme assise au chapeau to a Greek collector, Dimitri Mavromatis for $7 million. 

Over 900 art pieces were said to have been put up for sales at auction involving 30 galleries, it was reported beats the volume of last year for Frieze’s second edition of Masters Week.