Art Basel 2025 kicked off its VIP preview on Tuesday, June 17th, transforming Messeplatz into a magnet for the art world’s major players. The Swiss mega-fair, widely regarded as the art world’s final major moment before the summer slowdown, returns for its 56th edition this week with 289 galleries—an increase from last year’s 285—from 40 countries. Leading the reported initial sales was David Hockney’s Mid November Tunnel (2006), sold by Annely Juda Fine Art for a price in the range of $13 million–$17 million.
The opening day of Art Basel 2025 brought together a mix of collectors, museum directors, artists, and advisors. On a sweltering day in the Swiss city, the aisles were warm and packed. Although foot traffic was steady, the mood was more composed than frenzied, thanks to a wave of presales that alleviated some of the pressure on the booths.
That measured atmosphere didn’t preclude some major deals from being struck. Several galleries reported seven-figure sales, including placements of significant works with both private and institutional buyers.
“In a moment of instantaneous PDF sharing and digital everything, Art Basel proves that the greatest rewards come from showing up in person,” Iwan Wirth, president of Hauser & Wirth, said in a statement. “This is the fair where you are guaranteed to see masterworks you otherwise wouldn’t, to be reminded of the best art’s ability to ambush ennui and shock the senses back to life.”
Meanwhile, the unexpected breakout hit of the fair wasn’t a painting or sculpture but Labubu dolls. A limited-edition monster, made in collaboration between Hong Kong–born artist Kasing Lung and Art Basel, drew frenzied crowds to the Art Basel Shop in the early hours of VIP day. In 23 minutes, the 100 figurines, priced at CHF 200 ($245), had sold out.
As the bluest of blue-chip art fairs, Art Basel may have generated more nerves than in years past, due to a sustained slowdown at the higher end of the art market (evidenced most recently at the lackluster auctions last month in New York). However, by the close of VIP day, some of those anxieties appeared to have been quelled. “When it came to Basel, they said ‘the Americans aren’t coming’ and ‘the hotels aren’t full’.…Well, we can barely move in our booth, and the velocity of the sales has been as vigorous as any year in the past,” Marc Glimcher, CEO of Pace Gallery, said in a statement. “It has been confirmed that the energy to collect has returned.”
Here, we round up a selection of leading sales reported by galleries at Art Basel 2025. Check back on Monday for our full sales report.
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