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High Prices Art fairs are bad news for many galleries

The world’s largest contemporary and modern art fair, Art Basel, has finished and small galleries are wondering whether they will ever recoup the cost of attending. 

This year, 291 of the world's leading galleries showed the works of over 4,000 artists. More and more works of art are being sold at fairs like this, but it's a worrying trend according to Fabian Walter, president of the Art Galleries Switzerland Association. He says more than 20 professional galleries had to close in the last three years – that’s around 17%. (SRF/swissinfo.ch)