Alexander Forbes | Artsy | 9th December 2017
The pulse of the market at Art Basel Miami Beach. Some $3.5bn of works were offered and “hundreds” of sales occurred in the six figure range. Older collectors are selling, newer collectors buying. Mid-sized galleries are “challenged” and some expect “an industry-wide reckoning” on costs and strategy. Dealers and collectors both feel “art fair fatigue” but 41% of gallery sales come from art fairs.