(Bloomberg) -- Now is a good time to buy contemporary art, even though prices have never been higher, the Dallas-based collector Howard Rachofsky says as he digests his bratwurst.

The former hedge fund manager and his wife Cindy are grabbing lunch at Art Basel, the world’s biggest fair devoted to 21st- and 20th-century works. Dealers did plenty of business at this year’s 44th edition, following the $1.1 billion achieved at the New York contemporary sales in May.

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