Art dealers, collectors and gallery owners from around the world wrapped up several multi-million dollar deals in brisk trade at an annual art fair in the Swiss city of Basel this week, despite a slowdown in the global art market. Deals at the fair - widely seen as a barometer of global art demand - included the $20-million purchase of a painting by 20th-century American artist Joan Mitchell on the opening day and the sale of a drawing by fellow abstract expressionist Arshile Gorky for $16 million. The global art market shrank 4% to $65 billion last year, according to the Art Market Report, and the value of sales in the latest New York auction season fell more than 20%.
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