Art Basel Miami Beach signaled a strong return this week, with early sales reportedly up 40% compared to both the opening hours of the 2024 fair and the entirety of last year’s week-long event, according to Hauser & Wirth president Marc Payot.The fair, a key indicator of the art market’s health, saw notable transactions including a George Condo painting selling for just under $4 million, and two Louise Bourgeois paintings fetching $3.2 million and $2.5 million respectively.
The event drew a notable crowd of collectors and industry figures, including billionaire developer Jorge Perez, observed reading the Financial Times while declining refreshments. Galleries showcased aspiring works, with a prominent theme being richard Prince‘s work – displayed in multiple booths at Gladstone, Skarstedt, and Acquavella – alongside pieces by jeff Koons. While sales volume didn’t match that of Art Basel Paris, the Miami Beach fair outperformed the 2024 edition.
beyond the core fair, related events included Jewel, a visual artist with a show during the Venice Biennale presented by crystal Bridges, and a pre-opening breakfast dubbed the “Prelude” featuring a string quartet and flowing Ruinart champagne.The fair’s atmosphere was described as positive, with a focus on high-quality art and ample price points.
