Art Basel

One of the world’s biggest art fairs, Art Basel began in 1970, making it one of the earliest iterations of the business model that now dominates the art market. Founded by Swiss gallerists Ernst Beyeler, Trudi Bruckner, and Balz Hilt, the fair has expanded beyond its hometown over the past 50 years to establish editions in Miami (2002), Hong Kong (2013), and Paris (2022). In particular the Miami fair, with its high-profile art wheelers and dealers and celebrities partying in the sun, has become something of a pop cultural fixture.

Although Art Basel wasn’t the first art fair (Art Cologne preceded it by three years), Art Basel was arguably the most dominant until the early 2000s, when a plethora of art fairs, most notably Frieze, were inaugurated to serve the needs of a rapidly globalizing art economy.

Still, for more than 50 years, Art Basel has shaped the direction of art stylistically as well as economically, minting careers while showcasing the latest trends. This has come at a cost, however, as small and midsize galleries find it increasingly difficult to meet the escalating costs of booths, though Art Basel is hardly alone in creating such conditions.