The Artsy Advisor Notebook: December 2023

In this monthly series, we gather thoughts and highlights from Artsy’s in-house art experts on what they’re seeing, looking forward to, and enjoying in the art world this month.

To say there were nerves in the air going into Art Basel Miami Beach would be an understatement. More than a few dealers told me it was possible that they would sell exactly nothing—troubling given they typically use the proceeds from early December fairs to get through the quieter winter months. But midway through the fair’s opening day, folks seemed to breathe a collective sigh of relief. Pre-sales were better than expected and people showed up on Wednesday ready to buy more. Gallerists showing at NADA, which opened a particularly strong edition the day before, could even be seen walking Art Basel’s aisles with grins on their faces after reportedly selling out their booths.

Sales weren’t frenzied like they had been in late 2021 and the first half of last year. The secondary market continues to lag in particular, with sellers stubbornly holding out for higher-than-realistic prices. Buyers have almost zero urgency and are pushing for—and getting—discounts well above the customary 10%. But the light, even cheerful, mood stood in contrast to last year’s Art Basel Miami Beach, when dealers tried to pretend that the boom times were still going strong.

In some cases, galleries seemed to mistime the market: bringing just-okay examples of artists’ work or inventory previously offered during this busy fall season for fear of burning their best in the Florida sun. Those who took the gamble and brought A-class material did best.

Miami is at a particular advantage being in the least self-conscious state in the developed world’s best-performing economy, but it may also be a bellwether for a broader recovery to come at some point in the new year as EMEA and APAC economies follow the U.S.’s lead. At the very least, it was a worthy reminder for galleries to maintain a consistent presence with American collectors even when the buzz this fall may have been across the pond.

—Alexander Forbes, VP, Galleries & Fairs

Many of my favorite paintings from Miami Art Week could be grouped into two trending styles: “quiet luxury” and “hazy nostalgia.” The former generally speaks to the subject matter of the painting—closely cropped cocktail glasses, garments, sometimes jewelry. The latter describes the way the subject of the painting is depicted—soft, blurry edges that make the subject seem as though it were plucked from a memory.

At NADA, Rachel Lancaster exhibited several hazy luxurious paintings with London-based gallery WORKPLACE. Her most striking work of the booth, Vapour Trail (2023), shows the back of the head of an anonymous woman, her blonde hair tied back in a large pink bow. The thin glazes of paint creates an illusion of motion, as if the woman is turning slightly—an intentional choice by the artist, who chooses her subject matter from film stills.

Tomas Harker’s booth of bright monochrome tablescapes at The Sunday Painter also fit the trend. In one of the few solo booths at NADA, the artist cheekily layers iconic art historical imagery onto fine china, paired alongside crystal glassware and white linen napkins. My favorite work, Atlantis (2023), depicts a cotton candy–colored lobster, playfully looming large in the foreground as empty wine glasses faintly reflect at the far edges of a vacant table.

Canadian artist Grace Kalyta’s paintings at Pangée nod to luxury in the form of fashion, depicting leather jackets, a blue silk shirt, a lucky charm. The items could easily be from luxury brands, but no labels are shown. Again, the subject matter is closely cropped showing the clothing’s fine details. Some of the best works in the booth, like Heart of Fire (2023), use various materials like satin, rhinestones, and pearls to further enhance the sense of nostalgia.

At Art Basel Miami Beach, Sayre Gomez’s striking red painting at François Ghebaly stuck with me most. The viewer enters the painting as if in the driver’s seat of a car stuck at a traffic light on a rainy night in Los Angeles. Ahead, the taillights of a red hot car glare as a blurry traffic light in the distance turns green. It’s a distinctly Californian scene: bumper-to-bumper traffic as smog descends.

Maybe it’s the Issy Wood effect? Maybe these artists are homing in on a larger cultural critique of class and consumption? Regardless, I’m excited to see how these trends continue to gain traction in the new year.

—Caroline Perkins, Advisor, Private Sales, New York

Few photographers transcend the medium that they’re known for like Hiroshi Sugimoto. As I headed into the artist’s current exhibition at the Hayward Gallery, I was surprised to see a complex wood structure outside the museum, and I immediately thought: “This can’t be Sugimoto!” I explored the deserted space of the exhibition one crisp Sunday morning and completely immersed myself into Sugimoto’s eclectic subjects, ranging from sculpture to monochrome “paintings”—the artist’s “Optiks” series from 2018—to portraiture and “horror rooms.”

This survey, the artist’s largest to date, really gives you a glimpse into Sugimoto’s philosophy. A meditative experience, the show guides you through the artist’s series through the years, including some of his most celebrated bodies of work, like “Seascapes” and “Theaters.” Sugimoto’s market is strong and has gained momentum at recent auctions in London.

—Daniela Bianco, Senior Advisor, Private Sales, London