Art Basel , one of the art market 's biggest fairs , saw strong sales for top works but the art world is asking how it can support the " squeezed market " . The fair is now experiencing lower footfall and increased exhibitor cost , raising concerns about the gap between the top end and the middle market . I think many people had the best first day of Art Basel they’ve ever had.” Art Basel and UBS Global Art Market Report said in the past 10 years works over $ 10 m have gained 150 % in value while those under $ 1 m have fallen . The report also said online sales have grown 72 % in five years , presenting opportunities for the market 's lower end .
Art Basel , one of the art market 's biggest fairs , saw strong sales for top works but the art world is asking how it can support the " squeezed market " . The fair is now experiencing lower footfall and increased exhibitor cost , raising concerns about the gap between the top end and the middle market . Art Basel and UBS Global Art Market Report said in the past 10 years works over $ 10 m have gained 150 % in value while those under $ 1 m have fallen . The report also said online sales have grown 72 % in five years , presenting opportunities for the market 's lower end .