Contemporary Art: Art Basel 2024, the tree that hides the forest?

The latest edition of the Art Basel art fair in Basel was once again the scene of spectacular sales. However, these transactions conceal a more complex and uncertain reality of the art market. Behind the impressive figures lies a landscape marked by economic disparities and challenges.

 

From June 13 to 16, the latest edition of Art Basel, the prestigious contemporary art fair held annually in Basel, Switzerland, was once again the scene of major transactions. Behind these spectacular sales, however, lies an art market marked by disparities and economic uncertainty.

 

The days reserved for collectors saw some exceptional sales. David Zwirner Gallery sold Joan Mitchell’s Sunflowers for $20 million.

 

The Hauser & Wirth gallery, for its part, concluded major transactions, including a work by Arshile Gorky for $16 million, one by Georgia O’Keeffe for $13.5 million and one by Philip Guston for $10 million.

 

“The fair was very good,” said James Koch of Hauser & Wirth, emphasizing that the presence of serious collectors contributes to a more stable and less speculative market.

 

Stagnant market

 



To continue reading this article, subscribe or log in to your account

Discover our plans

Subscribe for 1€

Become an active member of the community of luxury leaders.


 

Read also>ART BASEL 2023: A EUPHORIC YEAR IN REVIEW

Featured photo : © Art Basel

Picture of Hugues Reydellet
Hugues Reydellet
Hugues Reydellet is a young and passionate journalist whose favorite subjects are economy, culture, gastronomy, but also cars, and sports. With a sharp pen and an insatiable curiosity, Hugues is constantly on the lookout for new hot information to report.

Subscribe to our Newsletter

Sign up now to receive sneak previews of our programs and articles!

Special offer

Subscription from 1€ for the first month

Luxus Plus Newsletter