Miami Event to Offer More Than $3 Billion Worth of Art

Art Basel Miami Beach, the largest U.S. art fair, will offer more than $3 billion of mostly postwar and contemporary works when it opens to a select group of collectors today, a 20 percent increase from two years ago.

Held at the Miami Beach Convention Center, the fair’s 12th edition features 258 galleries from 31 countries, with pieces by top market performers including Andy Warhol, Pablo Picasso and Jeff Koons. Lavish dinners, boozy parties and at least 20 satellite art fairs, including Scope, Pulse, Untitled, the New Art Dealers Alliance and Art Miami, take place concurrently with the main event, which drew 50,000 visitors in 2012.