As you know, Art Basel Hong Kong opened yesterday for those lucky enough to be VIP. We gave you a sneak peek of the works that would be on display. Now, we wanted to inform you about some of the sales that have already occurred on opening day. Major sales occurred within the first four hours of the four-day event.

Colombian artist Fernando Botero sold his oil on canvas work “Quarteto” for $1.3 million through Galerie Gmurzynska located in Switzerland. The work, depicting musicians sporting his trademark curvy aesthetic, was bought by a Malaysian collector.

Another notable sale was Yayoi Kusuma's “Flame of Life — Dedicated to Tu-Fu (Du-Fu),” a large-scale work with hundreds of squiggly shapes was sold to an asian collector for two million through collaborative booth Japanese gallery Ota Fine Arts along with London-based gallery Victoria Miro.

Takashi Murakami sold his five sculpture series “Pom & Me" for $135,000 each. However sales didn't occur right off the back, which is apparently typical of Asian fairs. “In Basel or Miami, the most important time is in the first two hours,” said Rastorfer of Galerie Gmurzynska. “You never get this feeling in Hong Kong. Sales take place throughout the fair.”

Fair director Marc Spiegler said he anticipated 7,000 people for the first day pf the VIP preview. Art Basel Hong Kong will be open to the public May 23 and will last until May 26 at the Hong Kong Convention and Exhibition Centre.

[via Artinfo]