The Crowds Are Back—and Buying—at Art Basel Miami Beach
It turns out rich collectors got tired of not spending.
Inside Pearl Lam gallery’s booth.
Photographer: dingtian caiTwenty minutes after the doors opened to VIPs for the first day of Art Basel Miami Beach on Wednesday morning, the collector Komal Shah had already purchased a painting by Vivien Zhang. Standing with Zhang’s dealer, Pilar Corrias, Shah noted it would be only her first purchase of the day. She’d been sent previews by other galleries, and “I have some things I’m very attached to already.”
As hordes of collectors seeped through security into the fair’s aisles throughout the day, it seemed a similarly acquisitive sentiment—not seen in the art market for almost two years—was back. “People sat on the sidelines for 18 months,” said the adviser Candace Worth. “They watched their stock portfolio go up, they’ve got some cash. They’re ready to buy.” (Public days are Dec. 6–8.)