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What is Art Basel and What Does it Mean for Art Lenders?

By   /   December 23, 2014  /   No Comments

Art Basel is a Miami based annual event that allows galleries, collectors, museum directors, curators and artists to gather and appreciate modern and contemporary artwork. This event is one of the most respected in the art world, where art lovers party, speculate, and appreciate both established and up and coming artists. Beverly Loan Company makes some of the largest collateral based loans in the country on modern and contemporary art; and as a result, must keep up-to-date on the newest art trends that come out of Art Basel.

“I’ve been to Art Basel in Miami various times over the past decade,” said Jordan Tabach-Bank, owner of Beverly Loan.  “The event is a great place to understand market conditions and to socialize with numerous art industry contacts from all over the country that I rarely get to see in person.”

Art Basel started in 1970 by a group of gallery owners that still meet annually. Basel was a success straight from the get-go – its third year in existence it attracted over 30 thousand visitors and over 250 exhibitors. Throughout the years Art Basel has continued to encourage and promote new artists and concepts through their various exhibitions. Art Basel in Miami this year welcomed over 70 thousand visitors.

In 2002 Art Basel moved to Miami Beach, and in 2013 the art fair debuted in Hong Kong for the first time. With these two annual shows and the yearly summer reunion in Basel, Switzerland there are a total of three shows that set the trends for the upcoming year. Artists that regularly sell at Christies and Sotheby’s for millions of dollars show at Art Basel. Artists like Francis Bacon, Damien Hirst, Jeff Koons, George Condo, Frank Stella, and Joan Mitchell have all shown at Basel and had incredible, record-breaking prices at auction.


Read the full article here: Beverly Loan Company

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