Art Basel 2026 opened with a successful VIP preview day, as galleries reported significantly stronger sales compared to the previous year. Dealers described the opening as one of the most active in recent years, with numerous transactions completed shortly after the doors opened at the Messe exhibition center in Basel, Switzerland.

Despite the encouraging start, gallery representatives stressed that the market has not returned to the speculative buying frenzy experienced in the years immediately following the Covid-19 pandemic. Instead, collectors appear to be making more deliberate purchasing decisions, particularly when considering high-value artworks.

Dealers noted that negotiations for major pieces often take additional time to finalize. One of the most talked-about works at the fair is a monumental bronze sculpture by Henry Moore titled Large Four Piece Reclining Figure (1972–73, cast 1984), presented by Gagosian. Measuring more than six and a half feet high and thirteen feet long, the sculpture attracted considerable attention from visitors throughout the day.

While Gagosian did not disclose an asking price for the Moore sculpture, similar late-career reclining figures by the artist have previously sold for as much as $32.7 million. By the close of business on Tuesday, the work remained available.

The gallery did confirm one notable sale during the preview, announcing that a 1984 painting by Willem de Kooning had been acquired by an important private collection in Asia for a high seven-figure sum.

The strong opening day performance suggests renewed confidence among collectors and galleries, even as the contemporary art market continues to favor thoughtful acquisitions over rapid speculative buying. Art Basel 2026 runs through June 21 and features hundreds of exhibitors from around the world showcasing modern and contemporary artworks.