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Investment Tip du Jour: Real Estate: Out. Chairs: In.

Art collectors who already have a Gerhard Richter for over the sofa are finding a whole new way to empty their wallets in Basel this summer. A short tram ride away from the main show at the big art fair, Art Basel, is Design Miami Basel, an event designed to showcase the joys of buying high-end furniture for collectors who want to move on from fine art.

Design Miami Basel premiered last December when Art Basel was in Miami, with a show dubbed Design Miami .05. In its first iteration, with 15 galleries showing, it did an impressive $7 million worth of business in four days. This is the show’s first appearance in Basel, and early signs are promising. Alashdair Willis, CEO of Established & Sons, the British firm that this year won the event’s Designer of the Future award, said he had already sold four of the $20,000 Zaha Hadid tables he was featuring by the second day of the show.

Curated by Ambra Medda, a 25-year-old Sardinian, the show is featuring work by such American galleries as New York’s Barry Friedman, who had three Ron Arad chairs on display, including a fabulous cherry red acrylic one that one of the gallery’s assistants swore was as comfortable as a dentist’s chair — without the drill.

One piece worth watching: a table by super-hot Aussie designer Marc Newson, on display at Gallery Italienne. One of Newson’s earlier works, a lounge chair that was less than 10 years old, sold two weeks ago for $520,000 at an auction at Philips de Pury in New York. As for the price of the table, the gallery’s owner just smiled. “I’ll see what I’m offered,” she said.

LT