Dealers are pinning their hopes on next week’s Art Basel Miami fair, which they say could be critical in determining just how severe the fall in the art market will be. Over 200 galleries will be showing their best work, hoping to draw collectors from around the world. It’s expected, however, that one key clientele base, the hedge fund manager, could be particularly missed.
Felix Salmon( WHO ?) even notes things are so hard-up at galleries, some are even considering cutting back on the variety of drinks served at showings to save on bar people in Miami. Being the art market though, beverage streamlining means offering blanket champagne instead. via (ftalphaville.ft.com)
Art Basle Miami or Bust…
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