Having attended every edition of Art Basel Miami Beach (ABMB) since its inception in 2002, I’ve witnessed how this event has become a cornerstone of the global art calendar. As a Miami resident for nearly seven years and a seasoned participant, I’m thrilled to see the city come alive once again in anticipation of this year’s fair, opening to VIPs this Wednesday, December 4th.
This year’s ABMB is especially exciting, arriving at what feels like a turning point for the art market. After a challenging year, signs of recovery are emerging. At recent fairs like Frieze London and Art Basel Paris, the atmosphere was notably upbeat. Both fairs were visually impressive, with Paris standing out for its vibrant energy and strong sales.
Adding to this optimism, last week’s marquee auctions in New York delivered solid results. Across Christie’s, Sotheby’s, and Phillips, total sales reached approximately $1.2 billion, signaling a revitalized market. A standout moment was René Magritte’s L’empire des lumièrest, which shattered records by selling for over $100 million, securing its place as one of the most valuable works ever auctioned. Beyond the headline numbers, there was robust activity in the $1 million to $10 million range, as well as interest in works under $1 million, with several pieces under $500,000 exceeding their high estimate.
Now, as Miami gears up for ABMB and its many satellite fairs, exhibitions, and installations—not to mention the legendary social scene—the excitement is palpable.
Whether you’re interested in acquiring works, exploring emerging trends, or navigating the broader art ecosystem, I’d love to be your guide. Now is an excellent time to take advantage of opportunities in this evolving and dynamic market.
If you’re planning to be in Miami or would like to discuss the art market further, let’s connect!
11/30/24