Art Basel Exhibition Showcases a Variety of Pricing and Styles from Dealers Amidst Market Unpredictability
Art Basel, the renowned art fair now in its 55th edition, opened under clear skies and heatwave conditions in Switzerland. With 289 exhibitors participating, the event remains a premier platform for galleries and collectors, featuring high-value works by prominent artists.
Amidst the global art market's ongoing challenges due to economic uncertainty and geopolitical tensions, Art Basel continues to be a significant barometer for the contemporary art world. However, the emergence of other significant art fairs suggests that the landscape is evolving.
Thaddaeus Ropac reported brisk sales by early afternoon, with James Rosenquist's Playmate (1966) fetching $1.8 million, Robert Rauschenberg's Lipstick (Spread) (1981) selling for $1.5 million, and Claire McCardell 9 (2022) by Alex Katz going for $800,000. Thaddaeus Ropac also did especially well, with a Baselitz going for over $2 million.
David Zwirner reported selling 68 works from its stand by 5 p.m., including two new works by Dana Schutz, which sold for $1.2 million and $850,000, and a Gerhard Richter priced at $28 million.
Pace's booth at Art Basel is organised with a deliberate split: fresh contemporary works are shown along the outer walls, while the gallery's historical masterworks anchor the interior. Among the contemporary highlights at Pace's booth, Pam Evelyn's Focal Length (2025) sold for $85,000, and Kylie Manning's Jetty (2025) was bought for $115,000.
Notable works at Gagosian's booth include a reworked version of Maurizio Cattelan's Him (2021), a grisly Richard Avedon image of Andy Warhol's mangled torso, and works by John Currin, Jadé Fadojutimi, and Sarah Sze. Gagosian's booth, curated by Francesco Bonami, features works ranging from $30,000 to over $30 million.
Hauser & Wirth headlined its booth with a hypnotic, moody Mark Rothko from the early 1960s. White Cube sold David Hammons's Untitled (2012) and Red Birds (2022) by Cai Guo-Qiang, as well as a Baselitz portrait of the artist's wife made in 2023 for 2.2 million euros, a large-scale work by Tracey Emin for over $1 million, and an acrylic on canvas painting by the late Sam Gilliam for $975,000.
London's Annely Juda Fine Art sold David Hockney's Mid November Tunnel (2006) for a price in the range of $13 million-$17 million, making it the top selling work. White Cube moved a Georg Baselitz for €2.2 million.
Despite the challenges facing the global art market, Art Basel continues to be a major hub for art sales and exhibitions. As Ashkan Baghestani, Sotheby's vice president and head of sale, noted, the May sales were positive for the company, with anything under $2 million doing particularly well.
However, not everyone was impressed. Kenny Schachter, the artist and Artnet News columnist, expressed disappointment with the fair, saying it needs more vitality and is resistant to change. He also mentioned Basel Social Club as a startup fair that had invigorated him.
Art Basel's position as a leading art fair is maintained by its long history, extensive international participation, and its role as a barometer for the contemporary art market. While there are no clear indications that it has been surpassed by new competitors, the art market's overall slowdown affects its performance. Nonetheless, Art Basel's influence and reputation continue to make it a major hub for art sales and exhibitions.
- The 55th edition of Art Basel, a premier art fair, opened under clear skies and heatwave conditions in Switzerland, featuring high-value works by prominent artists.
- Amidst global art market challenges, Art Basel remains a significant barometer for the contemporary art world, despite the emergence of other significant art fairs indicating an evolving landscape.
- Thaddaeus Ropac reported brisk sales, with works by James Rosenquist, Robert Rauschenberg, and Alex Katz selling for considerable prices, as well as a Baselitz going over $2 million.
- David Zwirner sold over 60 works, including two new Dana Schutz pieces and a Gerhard Richter priced at $28 million.
- Galleries at Art Basel, like Pace and Gagosian, showcase both contemporary and historical masterworks, with prices ranging from thousands to millions.
- Notable sales at booths include Pam Evelyn's work fetching $85,000, Kylie Manning's piece selling for $115,000, and David Hockney's Mid November Tunnel (2006) being sold for millions.
- Despite the art market's challenges, major sales were reported, with Sotheby's having positive May sales, and anything under $2 million doing particularly well.
- However, some felt that Art Basel lacked vitality and was resistant to change, pointing to new competitors like Basel Social Club for invigoration.
- In the art world, fashion-and-beauty, lifestyle, business, finance, and even travel and shopping are increasingly intertwined with the ever-expanding art market.
- With investments in art seen as a lucrative business move and an essential component of fine art and luxury, the art market continues to be a thriving sector within the broader economy.
- Art Basel, with its long history, extensive international participation, and role as a barometer, continues to influence the art world, making it a major hub for art sales, exhibitions, and investments.
