World’s Top Fair for Modern and Contemporary Art Suggests Boom Times Are Back

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BASEL (REUTERS).- Wealthy collectors at Art Basel, the world’s top fair for modern and contemporary art, had to dig deep into their pockets this week to get hold of high-quality works, amid signs the market was returning to pre-crisis peaks. In times of low interest rates, many investors seek to diversify their portfolios, and masterpieces by 20th century artists like Picasso and Miro, or contemporary stars such as Anish Kapoor or Antony Gormley, are in high demand. Almost 300 private jets landed at Basel airport during the first day of the fair to fly in VIPs like supermodels Naomi Campbell and Linda Evangelista, and the crowds were still large on Wednesday and Thursday when Art Basel was open to the public. Art lovers