Schiffer Browses Frieze, $5.6 Million Hirst Sells

Claudia Schiffer, the model, and hedge-fund manager Steve Cohen joined browsers at London’s Frieze Art Fair as a Damien Hirst sculpture priced at 3.5 million pounds ($5.6 million) was among the early sales.

Dasha Zhukova, the partner of Russian billionaire Roman Abramovich, was also at the VIP Day yesterday. Europe’s biggest commercial event devoted to living artists has $375 million worth of art, according to insurer Hiscox Ltd. Collectors are attracted by the emphasis on works by younger artists, mostly priced at less than $100,000, after the financial crisis depressed values for more expensive, heavily traded names by as much as 50 percent.