Art Basel Miami Beach 2023 Final Report – What The Dealers Said

art basel 2023 miami

Art Basel once again has departed the auditorium and the shores of Miami Beach, culminating in an exulting 2023 edition that solidified its status as a pivotal moment in the global art calendar—the year concluded with an immersive showcase featuring a fusion of innovative presentations from both emerging talents and seasoned exhibitors hailing from the Americas and beyond.

Against the vibrant backdrop of tropical Miami, the art world witnessed a convergence of creative energies as the fair facilitated robust sales across diverse market segments. The resonance of artistic expressions echoed within the convention center’s walls and reverberated throughout the city’s cultural landscape. A tapestry of sprawling exhibitions and events unfolded in collaboration with esteemed museums, private collections, and cultural partners, transforming Miami into a dynamic hub of artistic discourse.

The 2023 edition of Art Basel proved to be a melting pot of vision and commerce, where new narratives intersected with established dialogues, sparking conversations that will undoubtedly shape the trajectory of contemporary art. As the year drew to a close, the legacy of Art Basel Miami Beach endured, leaving an indelible mark on the collective imagination of the art world.

The art market went into overdrive as significant sales reverberated through Art Basel Miami Beach, showcasing the robust demand for top-tier artworks. 

Art Basel Miami 2023
Art Basel Miami 2023 Photo Clayton Calvert © Artlyst 2023

Galleries reported robust sales across all market segments, including works by 20th-century luminaries such as Carla Accardi, Philip Guston, René Magritte, Alice Neel, Keith Haring, and Mildred Thompson; prominent contemporary artists such as Yayoi Kusama, Barbara Kruger, Tracey Emin, Lynda Benglis, Marlene Dumas, and Rashid Johnson; outstanding practitioners from Latin America and the Caribbean including Esaí Alfredo, Firelei Báez, Hélio Melo, Teresita Fernández, Hector Dionicio Mendoza, and Jorge Méndez Blake; and emerging voices such as Reginald O’Neal, Erin Jane Nelson, Noémie Goudal, Tau Lewis, Qualeasha Wood, and Clio Sze To. A pinnacle moment at the fair unfolded at David Zwirner gallery, where a painting by Marlene Dumas, titled “The Schoolboys” (1986–87), achieved an astounding $9 million. This landmark sale marks a new personal high for Dumas in tracked market transactions, eclipsing her previous auction record of $6.3 million in 2008. Amidst a whirlwind of high-value sales, the Dumas piece emerged as a standout, capturing attention as the highest-priced work sold on Thursday.

The Gladstone Gallery reported a notable transaction, with Ed Ruscha’s “Mean as Hell” (1979) fetching a substantial $1.5 million. 

Marianne Boesky joined the fray with Ghada Amer’s “BECAUSE” (2023), securing a sale at $275,000. Simultaneously, David Nolan Gallery saw brisk activity, selling Paulo Pasta’s “Untitled” (2023) for $9,000 each.

Art Basel Miami Beach has witnessed a flurry of multimillion-dollar transactions, with Hauser & Wirth’s $20 million sale during the VIP opening setting the stage. Gagosian Gallery, too, reported significant success, surpassing $35 million in sales, including a major Richter painting from 1982 with a $12.5 million asking price. While the final price for the Richter remains undisclosed, the Dumas sale, initially touted as the second-highest reported, now claims the third position.

David Zwirner’s disclosure of the Dumas transaction carries particular significance. The gallery’s decision to reveal private sales at art fairs challenges the industry norm. Six months ago, David Zwirner took a public stance against such disclosures, making this recent announcement a noteworthy departure from their previous position. As Art Basel Miami Beach unfolds, anticipation builds for further high-profile transactions, with the market’s appetite for exceptional artworks showing no signs of abating.

Art Basel Miami 2023 Photo Clayton Calvert
Art Basel Miami 2023 Photo Clayton Calvert

What the Dealers Had To Say:

‘Art Basel Miami Beach continues to be our critical annual moment of engagement with collectors and institutions from the Americas. As a gallery that only does three fairs a year, the timing of Art Basel Miami Beach allows us to consolidate conversations in person that have been developing throughout the year. The opening days reflected the general market mood – less spontaneous, frenzied buying and more measured engagement with artists receiving significant institutional attention. Collectors we spoke to were very positive about the overall quality and experience of the fair this year.’

Jeremy Epstein, Co-Founder, Edel Assanti (London) 

‘Our experience at Art Basel Miami Beach this year has revolved around meaningful and fruitful exchanges with institutions and collectors who attend this fair expecting encounters with ambitious presentations such as ours. We are thrilled that Azza El Siddique’s installation Final Fantasy was met with an exceptionally positive response throughout the fair.’

 Megan Bradley & Antoine Ertaskiran, Co-owners, Bradley Ertaskiran (Montreal) 

‘Sales were steady, driven by collectors familiar and new to the gallery. At this year’s Art Basel Miami Beach, we also introduced several new artists to the program. Each was excited, and their work was sold immediately.’

 Tim Blum, Owner, and Matt Bangser, Managing Partner, BLUM (Los Angeles, Tokyo, New York) 

‘Art Basel Miami Beach is the unrivalled summit of Cardi’s annual fair schedule. It attracts top collectors from around the globe. We achieve record sales each year, and this year is no exception.’

 Nicolo Cardi, Owner, Cardi Gallery (London, Milan) 

‘It was an honour to participate in the fair, and as a first-time exhibitor, we were especially pleased to have been accepted into both the Nova and Meridians sectors. Vian Sora’s monumental painting Abzu in Meridians has been very well received, and our Nova presentation with Edra Soto, Hector Dionicio Mendoza, and Ken Gonzales-Day turned heads. The gallery presentation at the fair has garnered impressive press coverage as well.’ 

Luis De Jesus, Partner / Director, Luis De Jesus Los Angeles (Los Angeles) 

‘Having grown up in Miami, Art Basel Miami Beach is one of my favourite fairs, and this year did not disappoint. Our presentation – an international, intergenerational cross-section of our gallery’s program – sold out on the first day, with several works going to prominent institutions, including a work by the painter Marisa Adesman, which MCA San Diego acquired.’

 Anat Ebgi, Founder, Anat Ebgi Gallery (Los Angeles) 

‘Our first year in the main section of Art Basel Miami Beach started with a bang, and we were able to close multiple sales to great collectors on the opening day. We could not be happier with the fair; congrats to the Art Basel team for pulling it off.’

 Larkin Erdmann, Owner, Larkin Erdmann Fine Art (Cham, Paris) 

‘Seeing so many familiar faces and making new connections at the fair has proven that Art Basel Miami Beach still holds the throne in the US. We connected with seasoned collectors worldwide, including the US, Europe, and Asia.’ 

Stephen Friedman, Founder, Stephen Friedman Gallery (London, New York) 

‘There was a good energy in the room, and the fair felt very global, with our collectors present from across the US, Europe, and East Asia. There is a strong demand for museum-quality works, both historic and contemporary, and we placed significant works by our artists in institutional collections on opening day.’ Stuart Morrison, Managing Director, Hales Gallery (London, New York) 

‘For us, the opening of Art Basel Miami Beach was a resounding affirmation of the American art market’s strength and resilience. In the fair’s first hours, we welcomed a fantastic cross-section of seasoned collectors, curators, and museum colleagues and sold most of the works in our first-day presentation. In my view, such enthusiasm, engagement, and commitment indicate that the American art scene will continue to be dynamic. That great art will remain a priority in the wider culture itself.’ 

Marc Payot, President, Hauser & Wirth (New York, Hong Kong, Monaco, Ciutadella de Menorca, Gstaad, Saint Moritz, Zürich, London, Somerset, Los Angeles) 

‘We have had two successful days at Art Basel Miami Beach with numerous sales across the program. As always, the fair allowed us to reconnect with friends of the gallery from across the US, including several museum curators from prominent institutions.’

 Pippy Houldsworth, Director, Pippy Houldsworth Gallery (London) 

‘It was a great year for us at Art Basel Miami Beach. Our group presentation with 14 Korean artists received much attention from private and institutional collections. After the first day, we sold one or more works by most of the artists we brought to the fair. One of the highlights at the booth ended up being the large-scale, knotted canvas painting by the Korean painter Shin Sung Hy, whose solo exhibition in Venice will open concurrently with the Biennale next year. It has been a great year-end experience, which helps us look forward to the next.’

 HyungTeh Do, CEO, Gallery Hyundai (Seoul) 

‘We had a successful fair where we placed works across our program. There was a strong response for Pacita Abad, Ghada Amer, Tania Pérez Córdova, and Suki Seokyeong Kang – all celebrated artists who have currently or recently closed major institutional shows. Though consistently successful, we saw even more resurgent interest in the works of our Dansaekhwa artists, such as Park Seo-Bo, Ha Chong-Hyun, Kwon Young-Woo, and Kim Tschang Yeul. There was great feedback on our young contemporary artists, such as Mire Lee and Maia Ruth Lee. We placed the works of these artists in important private collections across the country and Europe. We encountered and engaged with many Asian American collectors from the East and West Coast, who are beginning to become a force in supporting contemporary and modern art of Asian and Asian diasporic artists.’ 

Tina Kim, Owner, Tina Kim Gallery (New York) 

‘At this year’s fair, we gave particular attention to presenting a well-curated solo booth dedicated to the French artist Jean-Michel Othoniel’s new “Passiflora” series. As much care we gave in designing the booth with the artist, we were delighted to see our booth receive high interest from international clients, with paintings and sculptures selling quickly.’ 

Hyun-Sook Lee, Founder and Chairwoman, Kukje Gallery, Seoul, Busan 

Our first day at Art Basel Miami Beach was a resounding success, defying our expectations. Most notably, the unexpected surge in the swift sale of higher-value pieces, including an Orozco and a Murillo, attests to a reassuring shift in market sentiment, as clients eagerly invest in the solidity and security offered by these prestigious artworks.’ 

Malik Al-Mahrouky, Partner, kurimanzutto (Mexico City, New York) 

‘We were thrilled with our first presentation at Art Basel Miami Beach, which coincided with our tenth anniversary. The gallery was represented twice at the fair, with a Survey booth of Vivian Browne’s landmark 1970s paintings and a Meridians presentation of Masako Miki’s new work. Neither of these artists has ever shown at Art Basel before, and the reception to their work was very positive, with sales 

to great American and some international collectors. Both presentations have also been met with great interest from institutions and good press.’

 Jeff Lee, Partner, Ryan Lee (New York) 

‘Art Basel Miami Beach continues to be one of our most important art fairs – for its proximity to New York and the international crowd of collectors and curators it brings together. Collectors are here from all over the world, from Beijing to Sao Paulo, and are eager to expand their collections and discover new artists. This is also a testament to Miami’s vibrant arts scene and prominent institutions.’ 

David Maupin, Co-founder, Lehmann Maupin (New York, Seoul, London, Palm Beach) 

‘Lévy Gorvy Dayan had a strong start in Miami Beach, placing works from all the artists we collaborated with on the first day. Primary and secondary market sales continued, and we are happy with the outcomes for our artists and clients.’

Dominique Lévy, Co-founder, Lévy Gorvy Dayan (New York, Paris, Hong Kong, London)  

‘We are delighted that museums and patrons of the fair have been highly receptive to supporting a conceptual, pioneering artist like Stan VanDerBeek, whose work has been exhibited by MoMA, LACMA, and the Pompidou earlier this year. Sales were solid and swift for our booth’s experimental film and computer-generated works on paper.’ 

Olivia Smith, Co-Founder and Director, Magenta Plains (New York) 

‘We were delighted to participate in Art Basel Miami Beach this year, marking the ninth year we have exhibited at the fair. We saw great engagement and eagerness from collectors, especially during the VIP Preview. Our exhibiting artists were incredibly well-received, solidifying the positive interest in their markets during such an important event as Miami Beach.’ 

Davide and Luigi Mazzoleni, Mazzoleni Art (London, Turin) 

‘It was an amazing fair for us with strong sales from the very first moments of the fair. Art Basel Miami Beach keeps improving every year, and we are thrilled to have received such a great response to our program.’

 Kamel Mennour, Owner, Mennour (Paris) 

‘This year, despite the financial issues of higher interest rates and global political turmoil, people are looking for art to enhance their lives. This has resulted in great success for us at the fair this year. Most of the sales have been to new international clients, many of whom have bought properties in Florida. Over 50% of our sales have been to new clients. Visitors come here to purchase more than most fairs we participate in. 

‘Art Basel Miami Beach consolidates its position as the number-one fair in the US, where museums, their trustees, and collectors know they will have access to quality works by artists from every continent.

 We have sold works to quality collectors, including a Mickalene Thomas to a Midwest museum.’ Nathalie Obadia, Owner, Galerie Nathalie Obadia (Paris, Brussels) 

‘The fair kicked off with high energy, seeing many of our collectors who had sat out the last couple of fairs showing up in the early hours. There was an incredible crowd at the booth, with collectors flying in from all over the world. This year, we were particularly excited about our pairing of artists across multiple generations, such as Lynda Benglis and Alicja Kwade, Mika Tajima and Mary Corse, and Maysha Mohamedi and Lee Kun Yong – something the fairgoers seemed to respond to. As far as sales were concerned, they were very brisk for us, selling most of the works in the booth over the first few hours.’ Samantha Rubell, President, Pace Gallery (New York, Hong Kong, Seoul, Geneva, London, Los Angeles, Palm Beach) 

‘We were overwhelmed by the extremely positive response from curators and collectors to our presentation at the fair. This highlights our artists’ ability to capture the current zeitgeist in the US and beyond.’

 Eva Presenhuber, Galerie Eva Presenhuber (Zürich, Vienna) 

‘The fair has been very successful for us. We sold everything we brought, plus additional works from the preview. It has been impactful for us to show Krzysztof Grzybacz’s work at an American fair – he is one of our youngest artists, and it is fascinating to introduce him to new audiences. The works received a great response, and we placed them in good collections. It is our first time at Art Basel Miami Beach, but hopefully not last!’ 

Dawid Radziszewski, Owner, Dawid Radziszewski Gallery (Warsaw) 

‘Art Basel Miami Beach has always been, and continues to be, a good fair for the gallery. We meet again with faithful US- and Miami-based clients and create new ones worldwide; we sold several works to American, Brazilian, Chinese, Italian, Lebanese, Korean, and Panamanian collectors. What we found exciting this year, in particular, was the great number of conversations we had surrounding our Meridian projects: an Oliver Beer video and Hew Locke sculptures from his Met facade installation. It has been a positive and productive fair.’ 

Almine Ruiz-Picasso, Owner, Almine Rech (Paris, Brussels, Shanghai, London, New York) 

‘It may be chilly outside in Miami, but inside the fair, we have had heat for the Fusions of Claire Falkenstein in our dedicated Kabinett. After months and months of planning an installation that dazzles and informs, it is rewarding to receive such a strong and immediate response to her pioneering metal and glass forms. While many revere and collect the work of Falkenstein, Art Basel Miami Beach allowed us to introduce her work to a new generation of collectors and scholars. Numerous Falkenstein works and solid examples of American modernism by Alfonso Ossorio, Charles Alston, Milton Resnick, and Milton Avery have sold.’

 Halley K. Harrisburg, Director, Michael Rosenfeld (New York) 

‘This was our inaugural participation in Art Basel Miami Beach. We had clients fly in from the Philippines and Singapore to visit the fair for the first time to celebrate with us. We felt warmly welcomed by Art Basel’s international audiences, particularly from national and Latin American curators who have recognized the prescience of Norberto Roldan’s work. Miami has proven itself to be an incredible American city to debut Roldan’s practice, which delves into the parallel post-colonial realities shared between the Philippines and Latin America. We hope to see everyone again next year.’ 

Isa Lorenzo, Founder, Silverlens (Manila, New York) 

‘Art Basel Miami Beach 2023 was a spectacular fair where we could meet and see great collectors, friends, and museum directors worldwide again. We had strong sales and are pleased to have placed our artists with museums and great collections!’

 Guilherme Simões de Assis, Director, Simões de Assis (São Paulo, Curitiba, Balneário Camboriú) 

‘This year, Art Basel provided the space for young emerging artists like Reginald O’Neal and Esaí Alfredo to scale up and transcend. This platform sheds light on where we are and where we are going and captivates our community from up close and afar.’

Anthony Spinello, Owner, Spinello Projects (Miami) 

‘We’ are very pleased with this Art Basel Miami Beach edition. Many international collectors came, and sales were solid and consistent. We placed significant works in important US and European collections by artists including Barbara Kruger, George Condo, Jenny Holzer, Lucy Dodd, Kaari Upson, and Nora Turato, our newest addition to the gallery roster.’ 

Monika Sprüth, Co-owner, Sprüth Magers (London, Hong Kong, Berlin, Los Angeles, New York) 

‘Venus is always thrilled to end the calendar year in Miami Beach with Art Basel. It is consistently filled with enthusiastic, rigorous, and thoughtful collectors. We can champion longtime gallery artists, as well as make introductions with a selection of work by artists who are newly featured in our 2023/2024 program, such as Seth Becker, Richard Mayhew, Claude Lawrence, and Yuichiro Ukai.’

Anna Christina Furney, Partner, Venus Over Manhattan (New York) 

‘It felt great to return to Art Basel Miami Beach this year just on the heels of opening our first permanent US gallery in New York this fall. We are also grateful for Art Basel’s care in creating a new fair layout with generous aisles, which allowed ease and encouraged engagement with our visitors and collectors.’ 

Daniela Gareh, Global Sales Director, White Cube (London, New York) 

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