The super rich are seriously shopping at Art Basel Miami beach

MIAMI BEACH — It wasn’t long before midnight when flame maidens in flaming crowns danced in the pool at the National Hotel for a gentle pretense. And, suddenly, you know that everything will be fine again.

In Art Basel Miami Beach, Black-Friday-Meet Art Industry Spring, COVID initially chills the mood but not the sales, crowds, and certainly not the goofy and resonating tradition of drag events one week long. Now in its 18th year, Art Basel (the collective name for the score of art and fashion events that take place around the huge Swiss art fair and its museum-quality works in September). 12 every year), incredible, bigger and more upbeat than ever.

At Thursday’s InList party, for a private global event and concierge service, a high-tech crowd has been talking about seeking refuge in the open spaces of Mykonos for the past few months over the past few months. as the flint dancer’s thigh-high silver boots spewed into the air and Whitney Houston’s dance mixes exploded. (You may find all of this shallow, but don’t call anyone in area code 305 this week, because you won’t find any sympathy here. From super-rich collectors to budding party NFT artists to exhausted event planners, people are clearly peace of mind.)

Art collector Libbie Mugrabi said it’s been a “breathable” week shopping at three different art fairs, arriving at her Miami home as she frantically oversees the hanging of a Tracey work Emin before the little dinner party on Friday night. This week, she bought a $95,000 Kenny Scharf, Emin piece from the White Cube Gallery in London for “150k-ish — I love her!” And she said that she holds two more of Emin’s works.) She also bought three pieces for her daughter at the Range Art Fair and two spiritual works “Yin and Yang” by Chinese contemporary artist Linjie Deng.

“I say I shopped for $25,000 but it’s actually going up to $125,000. But what I wanted was gone. Didn’t see that happening.”

– Michael ‘Always’ Turner

Others are not so lucky. “I said I was shopping for $25,000 but would actually have to go to $125,000,” said Michael “Always” Turner, a sportswear store owner in Boca Raton, Fla., said. But what I wanted was gone. Didn’t see that happening. ”

During breakfast in South Beach, artist Laura Kimpton, who is known for her installations at Burning Man and whose works are on display at the Venetian Hotel in Las Vegas, among other venues, cheerfully boasted that she sold a piece in a charity auction for $81,600. “I sold it to (Bitcoin pioneer) Brock Pierce, I guess I could say… He told me he bought it, in the back of an Uber… he would uncare.” (The Daily Beast has reached out to Pierce for comment.)

Many “old guard” came to buy — including Barry Diller (President and Senior CEO of IAC, parent company of The Daily Beast), Steve Wynn, mains Leonardo DiCaprio. Swizz Beatz and Pharrell Williams are in town, and are great art collectors, and Adam Levine captured a James turret at the Pace Gallery Booth, which sold out at Art Basel.

At the Art Miami rival fair, actress Sofia Vergara bought a work by 10-year-old artist Andres Valencia, who was billed by the fair’s director Nick Korniloff as a breakout star at the event (for around 10,000). USD).

While this week is widely touted as an NFT takeover of Art Basel by a whole new generation of artists creating works on blockchain, the reality is a little less clear.

Yes, the wonder of the NFT has made two headlines: Beeple is giving talks at top museums, and the Gene Roddenberry estate is selling Star Trek NFTs injected with live regenerative bacteria, among the discoveries. other uncertain developments. There’s a super exaggerated energy in the Wild West that’s fun to watch.

But Mugrabi noted that her first involvement in buying NFT artwork resulted in the money being stolen from her wallet. Artist Kimpton said, “NFT holds great promise for artists. I sold 1000 pieces”. She’s had some of her work minted and sold—but not by her. She had to contact an IP attorney.

One partygoer, who has attended Louis Vuitton, Gucci and Chanel events here, and is an employee of one of those companies, noted: “My circle is made up of 50 close friends. , no one has NFT yet. But they are buying (traditional) art”.

Quite typical is NFT collector and crypto trader Nick Dailey, of Brooklyn, NY, who says he has spent “more than 3 eth or more” —$14,000 in procession — on NFT in the past few days. on three different platforms, “but I haven’t paid for drinks and meals for days and I have artwork that will probably go up. ” The super rich are seriously shopping at Art Basel Miami beach


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