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A Look At Art Basel Miami 2009
Written by JoEllen Coen
The art world gained a much needed shot-in-the-arm as "Art Basel Miami 2009" came to a close on Sunday, December 6, 2009 in Miami Beach, Florida. Art Basel Miami (pronounced Art Bah-zil), named for the city in Switzerland where the festival began forty years ago, is considered to be the most important art show held in the US. The festival consists of a main event held at the Miami Convention Center with approximately 267 galleries representing 33 countries under it's roof, and approximately two dozen satellite "fairs" spread throughout Miami Beach and Miami proper.
Event planners and attendees were cautiously optimistic about this years festivities. Two days prior to the 2008 fair, economists officially pronounced the U.S. economy in recession. Within days of the 2008 fair's conclusion, investment manager Bernard Madoff's Ponzi scheme collapsed, unleashing a shock wave through the ranks of many collectors who suddenly found their wealth in question. This caused pause for some returning exhibitors, some stayed away all-together. Fortunately there is a long waiting list, and those empty slots were quickly filled. Consequently booth sales nearly doubled, attendance was up and overall sales were encouraging. Over 75% of the participating galleries reported a sales revenue increase up 15% over 2008.
A more festive atmosphere seemed to permeate last weeks festival. Perhaps the wider aisles at this years fair led to better viewing. Galleries made steady yet perhaps more studied sales. According to Art Newspaper correspondent Jason Kaufman the show had "...a much slower pace." He went on to say that "People were purchasing works in the low six figures rather than the high six figures", and that people seemed to be spending money on more "established artists, rather than emerging artists". All that said, 90 percent of the 68 galleries surveyed are said to turn a profit from this years show, with most work selling for less than $150,000. And for their part, dealers made things easy, showing mostly low-risk, accessible material, and offering discounts of up to 20% and also free-shipping.
Art Basel Miami brought together over 40,000 art enthusiasts throughout the five day trade fair including some of the most sophisticated collectors in the world. Among some of the larger pieces sold included an Andy Warhol piece from his "Mao" series fetching a cool $2.25 million. Las Vegas billionaire and casino mogul, Steve Wynn reportedly shelled out over $1 million for a painting by New York based artist James Rosenquist. Sylvester Stallone, of "Rambo" and "Rocky" fame is said to have sold thousands of dollars worth of his own work. Oddly enough Stallone's "Rocky" co-star Burt Young (Paulie) was also on hand displaying his collection of contemporary abstract paintings. A smathering of well known artists were spotted amongst the fair including Chuck Close, Ingar Dragset, Claire Fontaine, Matthew Day Jackson, Kris Martin, Marilyn Minter, James Rosenquist, Fred Tomaselli, Ai Weiwei, Pae White, and Kehinde Wiley.
Latin America's presence was stronger than ever. Brazilian, Venezuelan and Argentinean collectors who regularly visit Miami for vacation, took the opportunity to buy in a time where prices were appealing and great deals were sure to be found. According to the Wall Street Journal, ""Pedro Barbosa, a chemical engineer from São Paulo, said the Miami Beach Convention Center was "packed" with his compatriots. "I've never seen so many of us here before," he said, "and we're buying.""
Outside of the convention center, break-out star 'Shepard Fairey" known for his pop-art Obama "Hope" posters, successfully unveiled a new version of his project "Arab Woman 2006" on a wall at the Miami-Dade Cultural Center . This work was presented in conjunction with a new installation entitled "The Public Works" at The Fountainhead Residency, located in a residential-neighborhood of Miami . "Okay Mountain", an Austin, Texas art collaborative took the mickey out of the sometimes snob-laden art scene with "Corner Store" at PULSE Miami. The New Times, Miami described the installation as "...Effin' Hilarious", and went on to say "...(Corner Store) is possibly the greatest artwork ever conceived, an exercise in total hilarity, and really [expletive] funny." "Deseo" "an offsite exhibit designed by Cuban artist, "Jorge Mayet" featured an actual hut floating off of the coast of the "W" Hotel in South Beach. To the delight of Art Basel patrons "Deseo" floated in the waves for the entire length of the festival.
The party scene didn't disappoint. "Calvin Klein" was spotted at the "Vanity Fair" Party, The Whitney Museum threw a party for "Interview" magazine , and celebs like Naomi Campbell, and even Lance Armstrong threw their hats into the well-heeled party ring. From the rooftop of the Delano Hotel to the Design District, celebrities and their brood swilled champagne and danced the night away with famous DJ's , and old school favorites like George Clinton rocking the house into the wee hours.
Outside of booth sales and an impressive lineup of sponsorships including Cartier, Pucci, Hennessey, BMW and Mercedes-Benz, Art Basel Miami is predominately funded by large real estate investment groups. The impetus behind such funding is undoubtedly a desire to entice moneyed art buyers into purchasing any of the vacant luxury properties populating the coast.
The outlook is good for the 2010 Festival. Dealers felt successful, artists felt satisfied, and collectors felt as if they hit the jackpot. All in all a great weekend in southern Florida. Now on to Switzerland! Art 41 Basel takes place June 16 – 20, 2010. For more information visit: http://www.artbasel.com/.
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