Carly Murphy, who previously served as Christie's head of client strategy for the Americas, has announced her departure from the prestigious auction house to take on a newly created role at Art Basel. Murphy will assume the position of global head of collector and institutional relations, marking a significant move in the art world's executive landscape.

The appointment comes as Art Basel seeks to strengthen its relationships with core collectors, museums, and cultural institutions during a challenging period for the art market. Murphy will begin her new role later this month and will report directly to Vincenzo de Bellis, Art Basel's chief artistic officer and global director of fairs. This strategic hire reflects the organization's commitment to deepening connections within the art ecosystem as fair sales continue to face headwinds.

"Deepening relationships with private collectors and cultural institutions, shaping the conditions for galleries to grow, and cultivating the audiences of tomorrow are all critical to our role and to the wider ecosystem we support," stated Noah Horowitz, Art Basel's chief executive officer. The move represents what Murphy herself described as "a once in a lifetime opportunity" to apply her extensive auction house experience within the fair organizing sector.

Murphy brings considerable expertise to her new position, having previously held client-facing roles at both Sotheby's and Phillips before her tenure at Christie's. Her transition is part of a broader pattern of executive movement between major auction houses, galleries, and art fairs that has characterized the industry in recent years.

The art world has witnessed several high-profile executive transitions recently. Christie's former chief executive Guillaume Cerutti stepped down in January to join the Pinault family organization, while Sotheby's Brooke Lampley made the move to Gagosian gallery. Additionally, Christie's longtime auctioneer Jussi Pylkkänen departed to pursue private advisory work. Notably, Horowitz himself briefly left Art Basel for Sotheby's before returning to his current CEO position in 2022.

These personnel moves occur against the backdrop of a challenging market environment for the art industry. According to Art Basel and UBS's latest Art Market Report published in April, global sales of art and antiques declined by 12 percent in 2024, reaching $57.5 billion and marking the second consecutive year of decline. While sales at art fairs experienced a slight increase, they remain below pre-pandemic levels, prompting organizations like Art Basel to adapt their strategies.

In response to these market conditions, Art Basel Paris has announced plans to add an additional invitation-only preview day next month. This enhancement is designed to provide exhibitors with increased access to top collectors, demonstrating the fair's commitment to creating more opportunities for meaningful connections between galleries and their most important clients. Murphy's new role will be instrumental in developing and implementing such initiatives across Art Basel's global operations.