Art Basel 2025: What’s the Verdict?

Even if the catastrophic state of the world didn't really inspire confidence, galleries clung to Art Basel's unshakeable reputation and the magic touch that shields the Rhine city from bad news. MCH, owner of the fair and its many offshoots, issued an inevitably enthusiastic press release, hailing the success of the 56th edition, which still saw a number of dealers raking in seven-figure sales, such as David Zwirner, who sold a Gerhard Richter painting for $6.8 million, and this year's record holder, the Annely Juda gallery, which sold ‘Mid November Tunnel’, a 2006 painting by David Hockney, for between $13 and $17 million, with the London dealer insisting that the price remain confidential.

And that's not to mention Hauser & Wirth, Pace and Taddaeus Ropac, the latter having nevertheless sold works by Georg Baselitz, James Rosenquist and Robert Rauschenberg on the evening of the VIP opening, for a total of just over $5 million. This signals well for the remaining five days of the fair. By this measure, we can safely say that Art Basel has fulfilled its purpose and that the market, give or take a year, has managed to stay afloat. Above all, it confirms that it is the big players who always come out on top. They have the confidence of collectors and offer solid stock, such as Larry Gagosian, who arrived in Basel with no fewer than 68 artists, from Picasso to Jeff Koons, Magritte and Urs Fischer, with prices ranging from $30,000 to over $10 million. ‘We must be wary of the figures,’ warned one dealer who requested anonymity and who considered the fair's results to be ‘correct’. These galleries sold, certainly, but still less well than last year. And how can we know? There is a simple trick: just ask the transporters how many works they are taking home. ‘And there, the result is clear.’

Another observation: the absence of American collectors was confirmed. Mostly represented by their art advisors, they preferred to wait for Art Basel Paris in October to do business. This is refuted by the galleries, for whom Basel remains THE fair par excellence, where they showcase their best and, above all, most expensive pieces. No doubt, but how long will this exception last? No one wants to see the competition that is gently emerging between the two cities. And certainly not Basel, which has its advantages (picturesque surroundings, tranquillity and security), but where the hotel accommodation, which is inadequate and incompatible with the fair's demanding clientele, takes advantage of the situation to charge scandalous rates that scare away the young people that Art Basel so badly needs to secure its future. "In Basel, there aren't too many distractions. You have great museums, quality art, a large fair and interesting satellite fairs – that's a plus. In contrast, Miami, Paris and Hong Kong are much more distracting cities," New York gallery owner Wendy Olsoff told Artnews magazine. That sounds like a warning.