Art Basel CEO Noah Horowitz talks about the challenges in China, harnessing brand power and bringing the art fair's Paris edition to the Grand Palais.
is back in Paris with a new venue and brand extensions into retail, food and fragrance, as it broadens its reach amid a challenging art market.
“We stand for artistic excellence and opportunity at all levels of the spectrum, and supporting artists in the most precise and ambitious way is essential for us. But precise and ambitious doesn’t necessarily mean millions of dollars,” he added. Horowitz sat down with WWD to discuss the challenges in China, harnessing Art Basel’s brand power, and why Paris is always a good idea.
This is a transformational zeitgeist wave, in a sense, that Art Basel for many years now has ridden and also helped to define. So I think the great opportunity with Art Basel is learning from COVID-19 how to build a business that’s more resilient, that goes beyond the four fairs…but also fundamentally, to continue to drive value and business for our gallery clients, and ultimately to gain the trust of their artists.
In all my years with Art Basel, I’ve seldom seen such buy-in from our audiences globally in terms of commitment to coming. It really is the event of the year across the entire art market and art world calendar, and that’s just an unbelievable testament to the power of the brand and the belief in the brand, and the excitement, in this case specifically, around Paris in 2024 and the Grand Palais itself.In Hong Kong, Miami Beach and Basel, we range from about 240 to 280, 290 galleries.
Art Basel itself, setting the Art Basel shop aside, is a place where, of course, you have Picassos, you have Basquiats, you have Warhols for tens of millions of dollars, and that’s very integral to the brand, but you also have an extraordinary array of artwork under $5,000, $10,000, $20,000 that is expensive, but also considerably more accessible to audiences than is often thought to be the case when you conjure the idea of what Art Basel is in your mind.
We haven’t fully unlocked an e-commerce or a digital business around this. We’re evaluating. I think, ultimately, we’ll get there, but we’re being very intentional about how we roll this out.
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