Art Basel 2023: A Dynamic Mix of Exhibitions and Collectors from Around the World

Dealers at Art Basel hoped to boost the art market after a disappointing series of auctions in New York in May, but the fair's bustle didn't always translate into sales. The event featured 284 international galleries specializing in 20th and 21st-century art, with several trophy-level works on consignment from private collections. While some works found buyers, others didn't, and some exhibitors reported only breaking even. The market is being held in a climate of geopolitical uncertainty, with high interest rates and inflation hampering consumer spending in many countries.