06/20/2011 04:38 pm ET Updated Aug 20, 2011

Big Spenders Lift Contemporary Art Back To Peak At $1.8 Billion Basel Fair

The year’s biggest test so far for contemporary art dealers, in Switzerland, ended with galleries saying that demand and prices have returned to 2008 levels.

Billionaires splashed out on the best of $1.8 billion works shown at the world’s largest modern and contemporary art fair in Basel, which closed last night. Mark Rothko, Maurizio Cattelan, Anish Kapoor and Bridget Riley were among artists with pieces each selling for more than $2 million

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