The 2022 Art Basel Miami seems to have come to a head. This year, the largest exhibition of all time was planned to commemorate the 20th anniversary, and it boasted the dignity of Art Basel by presenting a biennial-level special exhibition Meridian as well as a commercial booth exhibition. The level of collections brought by each gallery was also considerable. It was also Alex Katz and Alexander Calder who stood out. Artists who frequently appeared in art galleries and auction houses this year and artists who have been sold at high prices are also the most notable in the art fair.
Usually, at major art fairs such as Art Basel, Amorisho, and Freeze Art Fair, the selection of galleries and artists to participate in the exhibition ends about a year to eight months ago. It is also very short to submit and accept applications to review galleries that want to participate in the collection. In addition, once a participating artist and work cannot be changed. Therefore, galleries that have decided to participate try to sell their works to their collectors with sufficient time. In the case of expensive works, the gallery wants to continue participating in the fair even after paying an average booth fee of more than 100 million won. The profits are significant even if only one piece is sold.
On the other hand, in the case of art fairs that introduce new artists, participating galleries are often recruited even a month before the exhibition. In the case of galleries, most of them are negative after dividing the expenses and profits, so they are divided into artists and booth fees. If the situation in the art market worsens, the gallery may be closed due to excessive spending and participation in art fairs. In the end, the phenomenon of the rich and poor is also evident in the art market. But what can I do? We have no choice but to overcome it. After overcoming all these processes and jumping a few steps, the cost of participating in the art fair is no longer a problem. If you qualify for the world-famous good art fair with fresh planning and discovering good artists, the art fair will no longer be a burden, but a fun festival as you will earn more profits and fame.