In Switzerland, nearly $2 billion worth of art from 300 top-tier international galleries is up for sale this week. Richter, Calder, Twombly and Hirst are among the big-names with big price tags lining booths at Art Basel, the world's biggest and oldest modern and contemporary art fair.

Among the highlights is a $20 million work by Gerhard Richter, whose retrospective is now on view at Centre Pompidou in Paris. The artist's abstract oil “A.B. Courbet,” from 1986, is offered by New York's Pace Gallery.

Last year, a record 65,000 people flooded the fair. Sales were strong with Gagosian Gallery reportedly selling $45 million in the first 15 minutes of the preview.

Organizers added a second VIP preview day this year. The 43rd edition of the fair runs through June 17.