Sayart.net - Art Basel Miami Beach 2023: 20th Anniversary, Succesful Operation

▲ Art Basel Miami Beach 2023 ⓒ Art Basel

Art Basel Miami Beach (hereinafter referred to as ABMB) is one of the most influential art markets in the United States, which marks the 20th anniversary of its opening this year, and it is an event where works of artists attracting attention from around the world are displayed and traded. More than 289 galleries from 38 countries, which increased from 160 galleries from 23 countries in the early days, have participated in ABMB, and the number of visitors has grown successfully every year, with the number of visitors increasing from 30,000 to 80,000.

The one of reasons why ABMB shows a brighter growth record than other Art Basel is because of its geographical characteristics. Miami, located in the southernmost part of the U.S., has a unique program where artists and galleries from South America can be accessed. In particular, ABMB has gained a strong influence in the U.S., with super collectors from South American immigrants fully supporting the event. Currently, ABMB is recognized as a must-visit destination for general visitors to Miami Beach.
 

▲ Earth Performance(지구놀이),ⓒ Seung-taek Lee, Art Basel

In the ABMB, Korean artists also stand out. In the 'Meridians' section, where 18 artists present art museum-scale exhibitions, 'Earth Performance(지구놀이)', a representative work of Korean artist Seung-taek Lee in the 1990s, was installed. The painting portrays the landscape of the earth with oil on a huge balloon measuring 7 meters in diameter. Exhibited with photos of six series of the same name was one of the most notable pieces of artwork in the Fair. Gallery Hyundai of South Korea also participated in ABMB. They sold artworks by Kun-yong Lee and others through Basel.
 

▲ Delta, 1958, ⓒ Frank Stella, Yares Art

The art market is suffering a downturn due to the war in the Middle East, the war in Ukraine, and the exodus of short-term speculators. Galleries and artists are choosing strategies to lower sales prices or display more artwork at booths. Nonetheless, ABMB sold the highest price of artwork on the first day of the event. A painting titled 'Delta(1958)' by Frank Stella was sold for 45 million dollars. VIPs still seem to be actively participating in the fair, with Philip Guston's masterpiece 'The Painter at Night(1979)' selling for 20 million dollars.

▲ The installation view ⓒ Art Basel

ABMB is also famous for its participation by celebrities. On the first day of the VIP showcase, many celebrities leading American pop culture, including Leonardo DiCaprio, Selena Williams, and Jared Leto, made headlines by visiting the fair. In addition, a talk program between actor Robert De Niro and Photographer JR Chronicles was held at the Tribeca Film Festival in a park next to the Art Basel convention center, attracting many visitors.

ABMB, with free exhibitions for general visitors to experience, events, organized by emerging artists, and various attractions, is expected to continue to receive strong support from art collectors for its successful operation.

Sayart / Nao Yim, yimnao@naver.com