The 50th anniversary edition of the Art Basel has been cancelled as a result of Covid-19. The fair, originally planned for June, had been postponed until late September, however, the decision was announced late last week to cancel the event entirely.
The Swiss Federal Council had delayed their decision as to whether or not the fair could take place until later this month. However, increasing uncertainty regarding regulations coupled with “ongoing impediments to international travel” were also considered in the decision to cancel this year’s fair.
In an official statement, Marc Spiegler, global director of Art Basel, said: “We are acutely aware that our galleries are facing unprecedented challenges and economic difficulties, and we had fervently hoped to support the art market’s recovery with a successful fair in September.
He continued: “Unfortunately, the uncertainties that we face remain too high.”
MCH Group, Art Basel’s parent company, has had a challenging year to say the least. The 2020 and 2021 incarnations of the Baselworld watch fair, were cancelled in May. These are traditionally the greatest producer of revenue for the company.
According to Tom Levin, a New York-based art adviser: “To lose both these events is a significant blow to MCH and its shareholders. Is it a blow for the art world? Obviously, it’s a disappointment, but most people were expecting it.
However, Levin remains optimistic in spite of present circumstances, concluding that: “It’s an art fair where you go to buy stuff. If you don’t go one year, you go another.”
Online viewing for the Art Basel will take place between 19 June and 26 June.
