Interior view of Dallas Art Fair 2024. Courtesy of Exploredinary and Dallas Art Fair. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Sales reports abound after the VIP days of major fairs, where most ambitious collectors usually settle on their objects of desire as early as they can. It is not, however, uncommon for buyers to contemplate artworks with the most robust price tags. <\/p>\n
In October\u2019s inaugural Art Basel Paris, for example, the most expensive VIP day sale reported was White Cube\u2019s sale of Julie Mehretu\u2019s gray-hued painting Insile<\/em> (2013) for $9.5 million. Hauser & Wirth, however, fetched the overall fair\u2019s top reported sale spot on the second day, with its placement of Louise Bourgeois\u2019s sculpture Spider I <\/em>(1995) for $20 million. <\/p>\nThe example illustrates a fact true of all art fairs: VIP days are far from the be-all and end-all when it comes to purchasing works. Fiore goes back to a fair on public days if a deal spills into a few days or a client lands in town later and wants to make sure they have seen everything. The VIP experience, according to the art advisor, lies in being made to feel special, especially in a competitive market when exclusivity may feel less so. Kim admitted noticing a \u201cshift in the dynamic,\u201d in terms of the VIP day dominating the sales, and attributed the change in her fairs partially to \u201creinforcing opportunities for visitors to return to the show.\u201d She listed this week\u2019s Art Basel Miami Beach as an example of an \u201ceveryday selling\u201d show.<\/p>\n
Fassi notes that although the preview day sees a significant number of sales, Artissima functions as a four-day fair that many collectors attend over the weekend. He attributes this partially to their attention to take time and explore the overall platform: \u201cThis results in a more relaxed approach, where the interaction with gallerists and artworks takes on an intense quality, requiring and enjoying time spread out over several days.\u201d<\/p>\n<\/div>\n
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Interior view of Mai 36 Galerie\u2019s booth at Frieze Seoul 2024. Photo by Lets Studio. Courtesy of Frieze and Lets Studio. <\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
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Chade also thinks there is still \u201ca focus\u201d on preview day sales; however, she points out recent editions that have proven that \u201ccollectors are allowing themselves time to build relationships with galleries and consider their purchases.\u201d She notices a growing number of VIPs returning to the fair on other days as well as hands shaking on a transaction during the weekend.<\/p>\n
Bak\u0131c\u0131 G\u00fcreli also notices the thinning of the gap between VIP day sales and those finalized on public days. She attributes the shift to the transformation of emerging collectors\u2019 acquisition habits: \u201cThere is a growing awareness of the art world, particularly among younger generations who increasingly view art not just as an aesthetic pursuit but as a valuable investment for their future,\u201d she said. <\/p>\n
Blagden doesn\u2019t overlook the significant number of sales that get sealed on the opening day, but she added: \u201cYou would be surprised how many sales take place on Sunday!\u201d In other words, the VIP day is far from the only day that matters, especially considering most galleries rotate their booths throughout the fair\u2019s run and exhibit new works on each public day. <\/p>\n<\/div>\n