The Easel

12th December 2017

What Sold at Art Basel in Miami Beach

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.

The False Narrative of Damien Hirst’s Rise and Fall

Galleries and auction houses provide elaborate – and thus expensive – services. So if high profile artists can avoid using them what is wrong with that? “Buyers don’t care anymore about waiting for the verdict of history; they’re consuming Hirsts in the exuberant present, while those who believe in art’s eternal verities try desperately to avert their eyes.”