| The contemporary art fair model was launched in 1967 in Cologne with Kolner Kunstmarkt 67, known today as Art Cologne. From this early beginning, the paper examines how the Art Basel branded model overcame many difficulties, becoming institutionalized, globally accepted, and respected. Facts, figures, studies, and interviews are presented to understand the perspective of the gallery, the point of view of the artist, the collector, and the global impact of the art fair on the growing art market. The factors that enhanced the experience, from the design of the space to public engagement, are also considered. While some participants find in the art fair the perfect algorithm to complement their already successful sales, others feel they have lost the exhibiting space that was previously their principal commercial space. The paper also takes a close look at alternative fair models established to compete with the top players. A comprehensive overview of these alternative art fairs focuses on their strategies to survive and maintain their presence in the age of the art fair market. The paper concludes with an overview of recent developments as a means to formulate a critical analysis to envision the future. |
