Two pieces of news are coming together these days: On the one hand, there is that the offshoot of the Art Basel art fair in Miami Beach will be celebrating its 20th anniversary at the beginning of December with the highest number of exhibitors ever.

283 galleries from 38 countries have been announced, including 26 newcomers.

Last year, 253 galleries from 36 countries and 44 newcomers presented themselves in the Miami Beach Convention Center.

On course for growth, Art Basel Miami Beach promises to become even more diverse and intends to expand its leading position in the North and South American markets.

Ursula Scheer

Editor in the Feuilleton.

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The signs that the trade fair could achieve this goal with an increase in sales are not bad;

that suggests a second message.

According to the annual “Global Wealth Report” by the Swiss bank Credit Suisse, the Corona crisis in 2021 led to wealth growth, especially among the wealthiest.

The report counts more than 62 million dollar millionaires worldwide.

The number of those with assets of more than $50 million rose by 46,000 to almost 220,000.

Switzerland, the motherland of Art Basel, remains the country with the greatest average wealth.

However, half of all new millionaires live in the United States – and quite a few of them are likely to be interested in art as an investment.

Most of the newcomers at Art Basel Miami Beach come from the United States;

others from Argentina, Brazil, Belgium, France, Great Britain, Japan, Singapore, Spain, South Africa and South Korea.

Galerie Sophie Tappeiner is traveling from Vienna for the first time.

Meanwhile, the danger of a recession is also increasing in the USA, and experience shows that the art market would not be immune to a downturn either – although the top segment would be the last to feel it.

But top collectors in particular still have one thing: capital to invest.