Art Basel Edition Day Four- The Satellite Fairs, Sales, News, Links and More- Sponsored by Art Miami

Satellites Shine Around Miami 

Throughout the day, The Canvas continued to receive reports of even more sales flooding in from the main galleries exhibiting at Art Basel- which we'll share with you in tomorrow evening's edition. 

However, we wanted to take a day and explore some of the satellite fairs around town that often don't receive nearly enough credit- including from The Canvas- for fostering the kind of collecting audience necessary to continue to expand the art market beyond traditional blue-chip collectors. 

Over the week, we visited Art MiamiUntitledScopePulse, and NADA, and we'll share some of our deeper insights from those fairs in tomorrow night's edition. However, for now, we'd like to focus on one in particular- ArtMiami which also runs the Context and Aqua Art fairs as well.  

Art Miami is a fair that hasn't gotten nearly the recognition it deserves from the established New York art world in return for systematically building a deep collecting base in the city of Miami for 29 years- significantly before ArtBasel itself planted its flag in the city in 2002. Nick Korniloff and Pamela Cohen deserve a tremendous amount of credit for slowly upping the ante in terms of the level of programming and stature of galleries participating in the fair over the past few years, and we kindly encourage you to read The Canvas's interview with them in our December monthly edition

While the fair is still incredibly crowded- even during its "VIP" opening- with literally thousands of people crowding the aisles making it difficult to concentrate on the art on offer in a meaningful way, a number of the galleries that The Canvas spoke to when walking through the fair were quite happy with level of sales activity throughout the week. As Marion Manekerrecently noted in the Art Market Monitor, "Art Miami, a fair for the kind of galleries and collectors who have no aspirations to go to Basel or buy the type of art shown there, is thriving and expanding in Miami Art Week" while that's not necessarily the case for the medium sized galleries exhibiting at Art Basel- and for Art Basel owner itself, MCH Group

Exhibitors like Adelson GalleriesGalerie DominionARCHEUS / POST-MODERNHelwaser GalleryErik Thomsen Gallery, and Nancy Hoffman Gallery, are all serious galleries bringing legitimate works of art that deserve to be paid attention to- and speak to a certain type of collector that help strengthen the overall market. Art Miami deserves a lot of credit for fostering an environment where they're able to do so successfully. 

The Three Things People Are Talking About

1. As The Art Newspaper reported at the beginning of the week, much of the talk amongst dealers at this year's fair was about the impending tax code changes that have the potential to make cross-state sales significantly more complex. Wherever The Canvas wandered these past few days, an undercurrent of concern could be sensed regarding how, and if, these new sales tax changes would impact sales. While Florida remains one of the few states for which the nexus tax does not yet apply, no one is happy about the additional layers of oversight and complexity facing the art industry's transactions going forward; especially as they come on the heels of losing the valuable 1031 exchange loophole that many serious collectors took advantage of. 

2. The Canvas holds dear the values of forgiveness and goodwill to all, especially when positive change is actively being demonstrated. However, as a recent article in the New York Times illustrates, those sentiments of forgiveness can not necessarily be bestowed upon the governments of Hungary, Poland, Spain, Russia, and Italy, all of which seem to be finding it difficult to live up the Washington Principles agreed upon in 1988 to ensure that looted and stolen art from the Nazis are properly identified and returned to the descendants of their rightful Jewish owners. While "giant strides" have been made according to Stuart E. Eizenstat, an adviser to the State Department, the countries listed above have not fulfilled their promises, and a remaining 100,000 works of art (out of an original 600,000) remain missing. A full report is due to be published next October, however, the article William D. Cohan is definitely worth a read for a full roundup of the failures of each those countries to live up to their commitments. 

3. Adam Lindemann, the billionaire investor, noted contemporary artcollector, owner of the Manhattan based Venus over Manhattan gallery, and husband to Luxembourg & Dayan co-founder and partner, Amalia Dayan hosted “The Art of Blockchains" conference in Miami on Tuesday before the opening of Art Basel Miami Beach. The conference was well-attended- Marc GlimcherNicole BerryLisa PhillipsStuart Comer, and Adam Sheffer- to name a few; as well as seemingly the entire art-press corps. While The Canvas has yet to reserve judgement on where exactly we stand on the confluence of art and the blockchain (and don't worry, we're obviously going to cover this seemingly omnipresent topic soon), we highly recommend Tim Schneider's detailed recap for Artnet

Six More Must-See Booths In Art Basel's Galleries Sector

Pace Gallery (Booth D8) 

Gladstone Gallery (Booth E5)

Kayne Griffin Corcoran (Booth A16)

Susanne Vielmetter Los Angeles Projects (Booth H11)

Galerie Thaddaeus Ropac (Booth G11)

Galerie Gmurzynska (Booth B1)

The Party Circuit 

MGM Resorts: Beach Party (Spotted: G-Eazy, Noah Horowitz, Casey Fremont Crowe, Dan Tanzilli, Anita Zabludowicz, Princess Alia Al-Senussi, and The Canvas)

Artsy & Prospect NY Present The Bellyflop Collection By Misha Kahn (Spotted: Wendi Murdoch, Chloe Wise, Carter Cleveland, Sarah Gavlak, Thomas Girst, Elizabeth Margulies, Hank Willis Thomas, and The Canvas)

Faena Art Launches the Inaugural Faena Festival (Spotted: Alfredo Jaar, Alan Faena, Stefano Tonchi, and Ximena Caminos)