Art Basel, a flagship fair bringing together 290 galleries from 43 countries and territories, opened this week with an invite-only VIP preview. During this phase, US gallery Gray sold a David Hockney canvas for $8.5 million. Hauser & Wirth offered Pablo Picasso’s painting Le peintre et son modèle dans un paysage (1963) for $35 million, and according to thelocal.ch, it was sold at that price. Almine Rech sold a separate Pablo Picasso painting for $6–6.5 million. Sprüth Magers placed John Baldessari’s INT. FRANK’S PENTHOUSE – EVENING BOBBY Reverse close-up (2017) with a European private collection for $500,000, according to artbasel.com. Basel Exclusive, a new initiative, unveiled previously undisclosed key artworks during the VIP opening. Major galleries emphasized blue-chip works of classical modernism, according to europesays.com. Vincenzo de Bellis, artistic director at Art Basel, said: 'The mood is very good, there is a positive, optimistic mood and feel. It's very buzzy,' as reported by thelocal.ch. Art Basel opens to the public on Thursday after two days reserved for wealthy collectors, according to thelocal.ch.