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Abramovich Prowls in Basel; $15 Million Picasso Sculpture Sells

A $15 million Pablo Picasso sculpture was among sales yesterday as Switzerland’s Art Basel opened to invited guests, including Russian billionaire Roman Abramovich and Hollywood actor Val Kilmer.

Several works by the late Louise Bourgeois were sold at the world’s largest fair of modern and contemporary art as collectors snapped up museum-quality works by established names. Greece-based Dakis Joannou, U.S. collectors Howard Rachofsky, Peter Brant and Irving Blum, and London jeweler Laurence Graff were also in the VIP crowd.