Art Basel continues to indicate the direction of buyers' taste and money.
Some may say there are too many international art fairs, nearly 300, but there is little doubt that they are the most convenient way for the wealthy to get involved in the contemporary art market.
Art Basel unequivocally is the most significant fair of them all, with leading dealers offering their blue chip works to their biggest-spending collectors.
The fair which is celebrating its 50th anniversary next year, typically draws about 100.000 visitors in the Swiss Art town Basel and is the moment when curtains part to reveal what is happening in the so called primary market- the closely guarded trade in art works sold by galleries for the first time.
We can also find out what dealers are charging when they re-offer paintings. That glimpse can tell us where collectors tastes and their money are heading.
Rosemont Art Advisory took its clients on a private tour of the Art Basel fair and visited the most fascinating art booths and participated in a guided tour of the preview exhibition sponsored by the Private Bank Bergos & Berenberg, who’s art historian, Dr. Thomas Kellein gave us a very private view of where the investors are now allocating their art investments.
Spirits and sales were high during the opening days of Basel.
Many of the blue-chip galleries boasted flashy displays (see Jeff Koon’s giant shiny pink bow at Gagosian s stand—sold for only $14.5 million.
David Zwirner sold Gerhard Richter’s
“Versammlung”, a raté 1967 painting of a crowd scene based on a photograph for $20 million.
Levy-Gorvy found buyers for a 2009 abstract silk-screen by Christopher Wool for $6 million.
We kept coming back to the Helly Nahmad gallery to admire its magnificent Rothko and Miro paintings who’s historical importance and visual museum quality kept collectors in admiration and we can only congratulate the future owners of those exquisite pieces showcased by Helly Nahmad gallery in Basel.
We are now looking forward to Art Basel Miami later in December.
To schedule a private tour of the Art Basel fair and a guided tour please contact:
Karolina Blasiak, Art Advisor at k.blasiak@rosemont-mc.com
Credit Pictures: Art Basel