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Nuria V by Jaume Plensa, Galerie LeLong,

The art world let out a collective sigh of relief this week. With galleries reporting double-digit sales growth, Art Basel’s annual show in Miami was not reflective of the US current recession.

According to a Miami Herald survey, 75% of exhibiting galleries at Art Basel said sales revenue grew at least 15% compared to 2008. A third of these exhibitors reported a sales hike of more than 30%.

“Everybody’s happy this year,” Rachel Adler, owner of Adler & Conkright Fine Art in New York, said Sunday from her space across from two German galleries in the Miami Beach Convention Center. “The people who buy art are not unemployed. They seem to be a little bit more secure.”

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Source: Miami Herald

Photo Source: Veronique Photo Source: Veronique Williams

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