‘Abstraktes Bild (940-7)’ (2015) by Gerhard Richter, being shown at the Hauser & Wirth booth at Art Basel © Courtesy of the artist
Megan Fox Kelly spoke with journalist Melanie Gerlis at the Financial Times ahead of Art Basel 2026.
For the 290 galleries going into Art Basel, it has been a while since price levels have been so visibly high. At the same time, the industry remains volatile and an increased appetite for spectacle presents new challenges for exhibitors this year.
New York’s May auctions, which always set the vibe at the Swiss fair in June, demonstrated renewed demand in the $10mn-plus zone, not to mention a couple of $100mn-plus sales.
The art adviser Megan Fox Kelly summarises: “There is an obvious demand for really exceptional material. Are there dozens of buyers at that level? No. There are many individual interpretations that are different for each area of the market. But reports of strong sales lifts the mood. Collectors are feeling generally more optimistic.”
Read the full article here.