Art Basel, the premier international art fair, concluded its 2024 edition from June 13 to June 16 in Basel, Switzerland. This year, the event attracted more than 91,000 attendees, including international art collectors, gallery owners, artists, institutions and art enthusiasts. Under the new leadership of Maike Cruse, Art Basel 2024 reaffirmed its status as the foremost gathering point for the global art market. So what are the highlights and key takeaways of this year’s edition?

Event Overview

Leadership and Curation

Maike Cruse, the new show director, brought a revitalized vision to Art Basel, integrating innovative curatorial approaches and expanded public programming. Cruse's leadership ensured that the fair maintained its high standards while introducing fresh elements to engage a broader audience. Her approach emphasized both the historical significance of Art Basel and its potential for future growth, especially with new innovative installations and programs.

Attendance and Participants

The fair saw an impressive turnout of over 91,000 attendees, underscoring its global appeal. This included a diverse mix of private collectors, curators, representatives from over 250 museums and institutions, and art enthusiasts from around the world. Key institutions represented included the Centre Pompidou, Los Angeles County Museum of Art, and the Museum of Modern Art in New York, highlighting the event’s global significance.

Art Basel 2024 attendees, Source: Art Basel

Gallery Participation

Art Basel 2024 featured 285 top contemporary and modern art galleries from 40 countries, with 22 first-time participants. Notable new participants included Almeida & Dale Galeria de Arte from São Paulo, Bank from Shanghai, and Tina Keng Gallery from Taipei. This diversity underscored Art Basel’s commitment to showcasing a wide range of artistic expressions and practices. There are of course many of Artsper’s partner galleries who are exhibiting during this year’s edition, a few notable names include Perrotin, Galerie Lelong, Galerie Jocelyn Wolff and Templon.

The two-floor booth of Perrotin at Art Basel, the gallery is a long-time partner of Artsper.

Key Highlights

Artistic Presentations

Art Basel 2024 showcased a blend of contemporary and modern art, with standout presentations from various galleries.

• Modern Art: Landau Fine Art, Cardi, and Applicat-Prazan Gallery displayed significant works by artists such as Wassily Kandinsky, Pierre Soulages, André Derain, and Jean Helion. These presentations further solidify the enduring appeal of early 20th-century modernism and its relevance to contemporary audiences.
• Contemporary Art: David Zwirner, Thaddaeus Ropac, and Perrotin featured notable pieces by Kerry James Marshall, Tony Cragg, and Jean-Michel Othoniel. These galleries demonstrated the ongoing vitality and innovation within modern art practices, bridging historical contexts with contemporary sensibilities.
• Lesser-known artists: James Cohan presented visionary artists like Yinka Shonibare, Kelly Sinnapah Mary, and Josiah McElheny, while Kukje Gallery highlighted Korean art with works by Park Seo-Bo, Lee Ufan, and Ha Chong-Hyun. This selection underscored the global diversity of contemporary art and the importance of cross-cultural dialogues in the art market.

Ecriture by Park Seo-Bo, available on Artsper

Sector Highlights

Art Basel’s new sectors added depth and dimension to the fair, engaging visitors with unique artistic experiences.

• Messeplatz: Agnes Denes’ installation "Honoring Wheatfield — A Confrontation (2024)" was a notable feature, reimagining her iconic 1982 land art work and remaining on view throughout the summer. This large-scale public artwork drew significant attention, reflecting the fair's commitment to engaging the broader public beyond the confines of the exhibition halls.
• Unlimited: Curated by Giovanni Carmine for the fourth time, this sector showcased large-scale and historical works, including Mario Ceroli’s "Progetto per la Pace" (1968), Julio Le Parc’s "Zepelín de Acero" (2021), and Chiharu Shiota’s "The Extended Line" (2023–2024). The Unlimited sector provided a platform for ambitious projects that challenge traditional art fair formats, encouraging viewers to experience art in immersive and unconventional ways.
• Parcours: Curated by Stefanie Hessler, this sector included 22 site-specific installations and performances throughout Basel, such as Lap-See Lam’s integration of traditional Chinese shadow play and digital animation. Parcours connected the city with the fair, creating a seamless interaction between urban space and artistic intervention.

Honoring Wheatfield - A Confrontation by Agnes Denes, Source: NZZ

Market Performance and Sales

Significant Sales

Despite initial market concerns, Art Basel 2024 concluded with robust sales across all market segments. Some key transactions included:

• David Zwirner: Joan Mitchell’s "Sunflowers" (1990–91) fetched approximately $20 million. Zwriner sold works by Gerhard Richter and Yayoi Kusama, reaffirming the demand for blue-chip artists.
• Hauser & Wirth: The gallery reported four eight-figure sales, including Arshile Gorky’s "Gray Drawing for Pastoral" (1946–47) for $16 million and Georgia O’Keeffe’s "Sky with Moon" (1966) for $13.5 million. These high-value transactions highlight the continued confidence in the market for historically significant works.
• White Cube: Julie Mehretu’s "Untitled 2" (1999) sold for $6.75 million, and Yayoi Kusama’s "Aspiring to Pumpkin’s Love, the Love in My Heart" sold for $5 million. These strong sales of contemporary works indicate a robust interest in established living artists and their evolving practices.

Sunflowers by Joan Mitchell, Source: Art Basel

Market Sentiment

The fair reflected a cautious yet optimistic market sentiment. While some dealers reported a slowdown in sales, the overall performance indicated resilience in the art market. Many transactions were made in person rather than through presale PDFs, highlighting a renewed desire among collectors to engage directly with artworks. This trend suggests a shift towards more deliberate and experiential art buying, where personal connection and in-situ appreciation play crucial roles.

Trends and Observations

Emerging trends at Art Basel 2024 included:

• Increased Focus on Established Artists: Works by historically significant artists like Joan Mitchell, Arshile Gorky, and Georgia O’Keeffe continued to attract high prices. This focus underscores the market's preference for established names with proven market stability.
• Revival of Overlooked Artists: There was a notable interest in reviving and recognizing underappreciated artists, particularly women surrealists and other marginalized groups. This trend reflects a growing commitment to diversity and inclusion within the art market.
• Engagement with New Media: Digital art and new media received significant attention, reflecting broader trends in the art market towards innovative and contemporary practices. The integration of technology and traditional art forms is becoming increasingly prevalent, offering new avenues for artistic exploration and market expansion.

Untitled by Joan Mitchell, available on Artsper

Public Programs and Community Engagement

Expanded Public Program

Art Basel 2024 expanded its public program, offering a wide range of artistic events and performances. This included contributions from renowned local and international artists, curators, musicians, and thought leaders. The program aimed to engage a broader audience and enhance the fair’s cultural impact. Events such as panel discussions, workshops, and live performances enriched the visitor experience and provided valuable insights into current artistic and cultural trends.

Art Basel Conversations, a free panel discussion program, Source: Art Basel

Community Initiatives

Public installations and performances across Basel, such as those at the Merian and Parcours sectors, were co-presented with UBS, Art Basel’s Global Lead Partner. These initiatives aimed to bring art to new audiences and foster community engagement. The involvement of local communities and the integration of public spaces into the fair's framework highlighted the inclusive nature of Art Basel's programming.

Final Thoughts and Future Directions

Art Basel 2024 concluded as a successful and impactful event, reaffirming its status as Europe’s premier art fair. The strong sales, high attendance, and dynamic artistic expressions underscored the fair’s importance and influence in the global art market. This year’s edition highlighted several key trends, including a strong focus on established artists, the revival of overlooked artists, and increased engagement with digital art. These trends reflect broader shifts in the art market, offering valuable insights into future directions for galleries and collectors.

Looking ahead, Art Basel’s continued focus on innovation, diversity, and community engagement will ensure its relevance and success in the years to come. Anticipation now builds for the next major event, Art Basel Paris, set to return to the newly renovated Grand Palais from October 18–20, 2024. This event promises to continue the tradition of excellence established by Art Basel, providing another opportunity for the global art community to come together and celebrate the best in contemporary and modern art.