The State of the Art World According to Art Basel – COOL HUNTING

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Despite there being nearly 300 art fairs globally, none come close to the prestige and forecasting power of Art Basel, currently in the midst of its 50th edition. The fair offers an opportunity to catch developments in the primary market, where art is sold by galleries for the first time (quite different than auction prices or other secondary market ones). This year, “The gallerists have answered the demand of the global and diverse market by focusing their supply on female artists and artists of color,” Dallas dealer Kristy Stubbs explains to the New York Times. This was evidenced by sales from everyone including NYC’s Jack Shainman to LA’s Freedman Fitzpatrick. Of course, mega-galleries also stuck to what they knew, offering up white male artists that fetch big prices. Read more about it all at the Times.