Art Basel reports strong sales despite fears of cooling market

• The oil-on-canvas painting was the biggest sale announced by fair organizers Sunday evening, based on a selection of sales reported by participating galleries.

Other big-ticket Basel sales include Marlene Dumas' painting "The Schoolboys," which netted $9 million.

• Willem de Kooning's "Untitled VII" painting, which had an asking price in the range of $7 million to $8 million, found a buyer.
• Two "Infinity Net" paintings by Yayoi Kusama sold for $3.2 million and $3 million, respectively.
• Several other works sold for around $2 million, including "Smiling Aristocrat" by George Condo, which fetched $2.35 million.

What they're saying: "For us, the opening of Art Basel Miami Beach was a resounding affirmation of the American art market's strength and resilience," said Marc Payot, president of Hauser & Wirth, in a statement.

• "As far as sales, they were very brisk for us, selling most of the works in the booth over the first few hours," said Samanthe Rubell, president of Pace Gallery.