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ART FAIR REPORT

The Last Stand

Outside the Messeplatz complex, Art Basel, 2012. Courtesy Art Basel.

With the profligate economies at Europe’s peripheries (Ireland, Greece, Spain, Italy) under siege by creditors, Switzerland remains the secure citadel at the heart of Europe, whose vaults, for now, remain untouched by the eurozone’s troubles. As a result of the ongoing instability among more traditional asset classes—from stocks to currencies—blue-chip modern and contemporary art has become its own bastion of security in recent years as global demand for tangible investments not tied to a specific country’s economy has risen. It was

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