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Art Basel in Basel, 2017 

By Rebecca Close

The number of millionaires globally “has increased dramatically since 2000 (rising 155% to 2016), and among them, those with wealth over $50 million have risen the fastest (by over 215%)”, according to The Art Market | 2017 report, with much of that growth happening in emerging markets and particularly Asia. Galerie Thaddaeus Ropac’s sales results certainly seemed to confirm the growing wealth in the Asia region: the gallery’s highest selling work – a Robert Rauschenberg painting – sold to an Asian buyer for over USD1 million. In an interview with Artsy Rupac stated...