TEFAF returned to Manhattan this week, bringing together the world's wealthiest art collectors in a frenzied atmosphere at Park Avenue Armory described as a "billionaire version of Supermarket Sweep." Despite global economic uncertainties, the premier art and antiques fair attracted hundreds of patrons who seemed unfazed by wars, inflation, or proposed taxes affecting the ultra-wealthy.

Major auction houses Christie's, Sotheby's and Phillips aim to sell more than $2.6 billion in art over the next week. Eleven individual lots are conservatively estimated at over $50 million each, with works from estates of publishing magnate S.I. Newhouse and philanthropist Agnes Gund among the prized offerings.

The fair's 88 galleries reflect a shift in collecting behavior, where modern billionaires increasingly prioritize investment quality and resale value. As art dealer Alexandre Maréchal noted, "The new rich have one, two, three advisers" who focus on financial returns rather than purely aesthetic considerations.