Art Basel 2024: Market Slows but Enthusiasm Remains Strong

Despite a slight dip in high-end sales, collectors show resilience and continued interest in diverse artworks.

Sales at Art Basel fell by 4% in 2023 due to economic factors, yet transaction volume grew at lower price levels.
High-value art pieces by renowned artists like Jean-Michel Basquiat and Yayoi Kusama are still drawing significant interest.
Collectors are taking more time to make informed decisions, moving away from pre-sales towards in-person evaluations.
American attendance is lower, providing European galleries an opportunity to build new relationships.
Major sales include works by Arshile Gorky and Louise Bourgeois, reflecting ongoing market resilience.