Sly stallone in "acquiring mood" at art fest

Sylvester Stallone was far from sly when it came to his interesting in buying art this month. The Rocky star was one of many celebrities attending the Art Basel Miami Beach fair.

"I’ll be in a very acquiring mood," he told Bloomberg at the preview night for the event on Tuesday. 

The 14th edition of the largest art fair in the US saw transactions signed and sealed quickly, with 267 galleries showcasing 4,000 artists and works valued at a collective $3 billion. Hedge fund managers, billionaires and actor Leonardo DiCaprio were among attendees, with one art dealer selling 12 pieces within the first three hours of the show.

"For works priced between $20,000 and $100,000 people come in and spend, they don’t even think about it,” David Nolan told the news agency. "Mostly we sold to new people. They all presume it’s a good investment."