Art Basel Miami Beach boasts about $3 billion worth of art on sale from 258 international galleries this week. At this largest art fair in the U.S., comprised mostly of post-war and contemporary art, the estimated value of works offered is up 20 percent from two years ago.

Celebrities, curators, and collectors alike--about 50,000 attend Art Basel alone--will also descend on Miami for 20 satellite art fairs, including Scope, Pulse, Untitled, the New Art Dealers Alliance and Art Miami.

This year's prices reflect, in part, skyrocketing auction sales, with $2 billion of Impressionist, modern, postwar and contemporary art offered in New York last month, and a flurry of artist records broken. Francis Bacon's triptych of Lucien Freud brought an all-time record for any artwork at $142 million, part of a record-setting $692 million sale at Christie's. Jeff Koons became the most expensive living artist with “Balloon Dog (Orange)” which fetched $58.4 million, and an Andy Warhol brought an artist auction record of $105 million.

Among the highlights at the 2013 Art Basel is Koons's “Baroque Egg With Bow (Turquoise/Magenta),” a six-foot high stainless steel sculpture offered by the Gagosian Gallery. It sold previously at Sotheby's in 2009 for $5.5 million.

Other big-name artists that entice the super-rich who want "recognizable" art are found throughout the fair.

A Warhol self-portrait from 1966 is priced at $4.7 million from Christophe van de Weghe and a Picasso nude has an asking price of $7.7 million.