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The Asset ObserverThe Asset Observer
Home»Art Market
Art Market

Art World Excited About Art Basel Miami Beach

News RoomBy News RoomDecember 3, 2024
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The Headlines

A BRIDGE-T TOO FAR? CRAWLING TO THE FINN-ISH LINE? PERHAPS NOT…A weary art world is gearing up for 2024’s last hurrah, Art Basel Miami Beach, from December 6 to 8. Following a mixed $1.3 billion New York auction week, all eyes are on this major market event, which will showcase 286 galleries from 38 countries at the Miami Beach Convention Center. This year marks a significant shift as veteran gallerist Bridget Finn takes the reins as the fair’s director, promising a fresh approach. One of the most notable changes is the largest group of newcomers since 2008, with 34 first-time galleries. Finn has also redesigned the fair’s layout, incorporating the large-scale Meridians section into the main exhibition space, situated between the Nova and Positions sections, which highlight emerging galleries and works. Following a decent round of auctions in New York and the conclusion of the US elections, advisors are optimistic about the fair’s impact. New York-based advisor Anwarii Musa told Artnet she believes the market is poised for a positive shift, with collectors feeling more confident and excited. Los Angeles advisor Victoria Burns shares the sentiment, noting a sense of relief post-election and a more discerning market, where buyers are taking their time before making acquisitions. Highlights of the fair include works by high-profile artists like Maurizio Cattelan (of banana stuck to a wall fame) as well as new voices such as Anthony Akinbola and Tschabalala Self, whose works reflect a growing focus on artists of color.

LIKE A PHOENIX. Five years after the tragic fire that ravaged Notre Dame Cathedral, the historic Paris landmark has been fully restored and is set to reopen on Sunday, December 8. The reopening will be marked by two Catholic masses to commemorate the event.The restoration project, which raised €846 million ($891 million) from 340,000 donors across 150 countries, involved more than 2,000 artisans and took years of painstaking work. Among the notable restoration efforts, 14,000 square feet of stone were replaced, 8,000 organ pipes were cleaned, and 1,500 solid oak pews were handcrafted and installed. The cathedral’s stunning stained-glass windows, marble mosaics, and frescoes were also meticulously restored. In November, the cathedral’s eight restored bells rang for the first time in years, signaling the success of the restoration. The spire, which was destroyed in the blaze, has been rebuilt, with a new phoenix replacing the iconic golden rooster. Copper sculptures of the apostles and evangelists, which narrowly escaped the fire, will return next year. French President Emmanuel Macron described the restoration as a testament to the country’s resilience, saying the decision to rebuild Notre Dame was a message of “achievement” and preservation of history.

The Digest

On December 10, Gagosian’s Burlington Arcade in London will release a limited edition of 200 Takashi Murakami t-shirts. The design draws inspiration from Rakuchū-Rakugai-zu Byōbu: Iwasa Matabei RIP (2023–24), the centerpiece of Murakami’s exhibition, also opening that day at the gallery. [Gagosian]

A painting by Joaquín Sorolla, the Spanish artist famous for his skilful use of light, is being displayed to the public for the first time in 134 years at Madrid’s Royal Collections gallery, after it vanished following its sale to a private collector. [Guardian]

Thai artist Kawita Vatanajyankur has collaborated with scientist Pat Pataranutaporn on The Machine Ghost in the Human Shell, a video that pushes the boundaries of human endurance. The artist, subject to violent electric shocks, struggles to draw a spiral on a red background, confronting the ethical implications of artificial intelligence. Commissioned for the 11th Asia Pacific Triennial of Contemporary Art (APT11) at Queensland Art Gallery | Gallery of Modern Art (QAGOMA), the piece is part of a broader exhibition that highlights urgent issues like AI dehumanization, labor exploitation, and climate change. [The Art Newspaper]

Forbes has published a list of 30 artists and designers under 30 years old who it says are “redefining the future.” [Forbes]

Located on a former RAF airfield in Swindon, UK, a simple metal barn has been constructed to store the reserve collections of London’s Science Museum and its partners. Inside are 300,000 objects, including a 1960s nuclear missile and Stephen Hawking’s iconic voice synthesizer, alongside many other historical and scientific artifacts. [Guardian]

The Kicker

RUN STEP TOO FAR? Duncan McCabe, an avid runner and animation enthusiast (with too much time on his hands), spent 10 months and ran about 700 miles to create a 27-second video, which has now gone viral. Using the GPS-tracking app Strava, he mapped out 120 runs across Toronto, crafting a dancing stick man that jives to the song “Purple Hat.” The figure, though simple in appearance, required meticulous planning and considerable physical effort. Many of his runs were around 6 miles, but some were longer or shorter, depending on the movements required. McCabe’s project is part of the growing GPS art movement, where users create digital drawings using location-tracking apps. While most GPS art is static, McCabe’s work is dynamic — a moving animation built from multiple runs. To bring it to life, he mapped out each step in PowerPoint, using it to visualize his routes as a flip-book-style animation. This involved extensive planning, including precise timing for each frame to ensure smooth motion. The video took McCabe nearly a year to complete, with runs scheduled multiple times a week. Unlike other GPS artists who rely on satellite tracking alone, McCabe used video-editing software to compile the routes, ensuring a stable background while lining up the streets. The final product has been viewed millions of times on social media, including over 25 million times on X.

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