ART BASEL MIAMI 2023

Miami, the new powerhouse of the United States

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For a long time, New York and Los Angeles formed the indestructible duopoly of the American art market. But since Covid, Florida has experienced a resounding economic boom, becoming the new home of billionaires. Forbes magazine lists 79 billionaires in Florida. Recently, Jeff Bezos announced that he was leaving Seattle for Miami. Miami's popularity can be explained not only by its tax advantages, but also by the pleasant living conditions that entice wealthy New York families to make the move.

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In addition, rapid and significant investment in tourism and real estate, with the development of homes such as Aman, Soho House and Faena, make the city particularly attractive to celebrities and show business.

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Finally, Miami has established itself as a major cultural hub, with the establishment of quality art galleries (Spinello Projects, David Castillo, Ross + Kramer), international art events (the Art Basel contemporary art fair), and an ever-expanding art scene. The city offers a stimulating environment for artists and creative people, drawing worldwide attention to its cultural dynamism.

The buzz around Art Basel

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Art Basel is one of the world's most prestigious contemporary art fairs. It takes place every year in Basel, Hong Kong, Paris and Miami. The Miami Beach version, held every December, attracts galleries, collectors, renowned artists and art lovers from all over the world. This event contributes to putting Miami on the world map of contemporary art.

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This year, the institutions put the spotlight on young, emerging artists who are in great demand among collectors. MAP (Marquez Art Projects), established by local collector John Marquez, devotes an exhibition to artist Jose Delga Zuñiga, whose surrealist paintings explode with a mixture of humor and intensity. The Museum of Contemporary Art ICA (Institut of Contemporary Art) offers a memorable space to artist Sasha Gordon and her surrealist canvases that explore the complexities of bodily experience with a hyper-realistic level of detail. Finally, the Rubell Museum showcases the work of artist Alejandro Piñeiro Bello , who creates monumental color canvases that evoke the natural landscapes and folkloric traditions of the Caribbean.

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Finally, young collectors were able to unearth the artists of tomorrow thanks to the Nada and Untitled fairs, always full of surprises.

Several million-dollar sales

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Gradually, Miami's glitz has given way to substantial art. This year, by welcoming 277 international galleries, Art Basel Miami Beach confirmed its position as the leading art fair in the United States. And the participants showed pieces of exceptional quality that logically found takers. Gallery director Lehmann Maupin confirms, "Booth sales have been robust since the early hours of the fair's opening, signaling an optimistic shift in this year's initially calmer market and economy."

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Among the most spectacular sales, Gagosian Gallery claims to have sold a work by Gerhard Richter (Green-Red-Yellow) from 1982 for $12.5 million. David Zwirner Gallery announced that it had sold a work by artist Marlène Dumas entitled The Schoolboys for $9 million. The dealer also reported that Yayoi Kusama continues to attract interest, with two of her 2015 paintings Infinity Net sold for $3 million and $3.2 million. The gallery reported other sales in excess of $1 million for works by Robert Ryman, Alice Neel, Elizabeth Peyton and Noah Davis.

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The Hauser & Wirth gallery is not to be outdone, with the most expensive work sold this year. Signed Philip Guston, it sold for $20 million. A recent work by George Condo fetched over $2.35 million. Finally, works byAmy Sherald and Henry Taylor sold for $850,000 and $1 million respectively to "important American museums".

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Finally, Belgian gallery Xavier Hufkens announced a sale of a work by British artist Tracey Emin for $1.64 million, and iconic gallery Thaddaeus Ropac recorded a $1.7 million sale for the no less iconic Robert Rauschenberg.

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Overall, the combination of Art Basel's global impact, Miami's cultural diversity, creative energy and networking opportunities make the city an exceptional venue during this major art event.