Has art market turned a corner? Art Basel Miami Beach 2024 sees big crowds and big sales
Crowds were back and buying this year. Several major galleries reported multiple million-dollar sales, giving cause for cautious optimism
Within 20 minutes of the doors opening to VIPs for the first day of Art Basel Miami Beach on the morning on December 4, collector Komal Shah had already bought a painting by Vivien Zhang.
Standing with Zhang’s dealer, Pilar Corrias, Shah noted it would be only her first purchase of the day.
She had been sent previews by other galleries, and “I have some things I’m very attached to already”.
As hordes of collectors seeped through security into the fair’s aisles throughout the day, it seemed a similarly acquisitive sentiment – not seen in the art market for almost two years – was back.
“ People sat on the sidelines for 18 months,” said art adviser Candace Worth. “They watched their stock portfolio go up, they’ve got some cash. They’re ready to buy.”