Art Basel: From Bargains to Billionaires

Dec. 7, 2012 6:33 p.m. ET

If you're a Russian couple visiting the Art Basel Miami Beach fair and you've just paid around $250,000 for a wall-size work by Barbara Kruger that reads, "Greedy Schmuck," there's only one thing left to do: Pose in front of it and ask a friend to take a celebratory snapshot.

Moments like this have popped up all week long in Miami, where the world's wealthy have gathered to shop for contemporary art—sometimes with white,...

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