Art Market
Arun Kakar
Jun 18, 2025 6:15PM
Katharina Grosse, installation view of CHOIR, 2025, on the Messeplatz at Art Basel, 2025. © VG Bild-Kunst, Bonn 2025. Photo by Jens Ziehe. Courtesy of the artist and Art Basel.
Art Basel 2025 got off to a sweltering start on Tuesday, the 17th of June, as guests poured into the Messeplatz for the fair’s VIP preview under an intense Swiss sun.
Now in its 55th edition, Art Basel’s premier fair is viewed as a barometer of the current art market, from the galleries that are chosen to show, to the artists they choose to platform, and, perhaps most importantly, the works that are sold.
As this year’s fair gets underway, those factors will be watched more closely than ever as the art market faces a period of sustained difficulty. This has particularly affected the top-tier artworks at higher price points—evidenced by recent reports and auction performances—that Art Basel is known for showing.
Arturo Kameya, installation view in GRIMM’s booth at Art Basel, 2025. Courtesy of Art Basel.
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In a conversation with Artsy in the run-up to this year’s event, Maike Cruse, the fair’s director, acknowledged the challenges of the current environment, but took a positive tone. “While the general trend would indicate that the market is going through a period of recalibration, our conversations with galleries, however, are very optimistic,” Cruse said. “They’re feeling confident and excited to join the show in Basel and also present this type of ambitious work, which the fair is known for.”
It will be cause for comfort, then, that the energy during the VIP day was familiar for a typical Art Basel fair: packed booths and an international crowd deep in conversations—across stairwells, over glasses of champagne, and in the exhibition center’s buzzing central courtyard. Although many galleries played things safe by showing the artists they’re known for working with, there was certainly no lack of ambition when it came to price points, with six- and seven-figure works commonplace across the fair.
Lee Ufan, installation view in Lisson Gallery’s presentation at Art Basel Unlimited, 2025. Courtesy of Art Basel.
This year’s fair brings together 289 galleries (up from 285 at Art Basel 2024) from 42 countries, with 19 newcomers joining the fold. Also new this year is the Premiere section, which invites 10, mostly mid-sized, galleries to show works made in the last five years. This section, along with Statements, which returns again this year and focuses on solo presentations by emerging artists, creates more space at Art Basel for galleries beyond the big names. Also returning is Feature, which focuses on historical presentations by 20th-century artists. And, in another area of the Messe, is Art Basel Unlimited, a separate hall that presents monumental-scale artworks.
Art Basel is the main event in an increasingly congested week. Liste Art Fair Basel, Basel Social Club, Photo Basel, VOLTA Basel, Africa Basel, Maze Design Basel, and June are among the other art fairs taking place. And the museum and gallery shows in Basel, from Jordan Wolfson’s VR experience at the Fondation Beyeler to Steve McQueen at Fondation Laurenz Schaulager, have kept everyone talking.
But all eyes were on Art Basel on Tuesday, where several dealers struck a decidedly bullish tone as the event got underway.
“We suspected that the energy to collect was returning—we’ve felt it since the beginning of this year, we could feel it at our Art Basel Hong Kong booth,” said Pace Gallery CEO Marc Glimcher, who rowed against some of the current narratives surrounding the market.
“Everyone misread the auctions in May, which were full of positive signals. When it came to Basel, they said ‘the Americans aren’t coming’ and ‘the hotels aren’t full’…well, we can barely move in our booth and the velocity of the sales has been as vigorous as any year in the past. It has been confirmed that the energy to collect has returned.”
His gallery noted that it had sold all of the contemporary works on its stand, while works by Pablo Picasso and Joan Mitchell—each priced in the low eight-figure range—were on reserve by the end of the VIP day. Leading the sales at Art Basel on VIP day was David Hockney’s Mid November Tunnel (2006), sold by Annely Juda Fine Art for a price in the range of $13 million to $17 million. Stay tuned for our full sales report on Monday.
Here, we present the 10 best booths at Art Basel 2025.
Booth C9
With works by Carla Accardi, Jean-Marie Appriou, John Armleder, Alvaro Barrington, Massimo Bartolini, Sanford Biggers, Mcarthur Binion, Mel Bochner, Alighiero Boetti, Alfie Caine, Shannon Cartier Lucy, Jordan Casteel, Maurizio Cattelan, Giulia Cenci, Elmgreen & Dragset, Dominique Fung, Lenz Geerk, Domenico Gnoli, Tomoo Gokita, Felix Gonzalez-Torres, Jennifer Guidi, Jenna Gribbon, Giorgio Griffa, Jessie Homer French, Spencer Lewis, France-Lise Mcgurn, Ludovic Nkoth, Mimmo Paladino, Ariana Papademetropoulos, Paola Pivi, Rob Pruitt, Pietro Roccasalva, Ferrari Sheppard, Josh Smith, Piotr Uklański, Kaari Upson, Andra Ursuţa, Danh Vo, and Yan Pei-Ming
Installation view of MASSIMODECARLO’s booth at Art Basel, 2025. Courtesy of MASSIMODECARLO.
When the list of artists at a gallery’s booth is longer than your arm, it can be hard to know where to start. Fortunately for visitors to MASSIMODECARLO’s booth, Elmgreen & Dragset’s 60 Minutes (marble) (2024), a chalk-white sculpture of a just-larger-than-life-size boy atop a washing machine, provides an immediate entry point. The sculpture is flanked by a bullet-ridden self-portrait by Maurizio Cattelan and a rustic sand-tempered painting of a sofa by Domenico Gnoli from 1964. They set the tone for a presentation that is as eclectic as it is extensive, including a bevy of outstanding works.
These include Tomoo Gokita’s Dead Family (2024), a haunting portrait of a family on a sofa with their faces and limbs creepily distorted, and a restrained and vulnerable untitled 2025 portrait of a resting woman by Lenz Geerk. Elsewhere, new paintings by Dominique Fung, Alfie Caine, and Ludovic Nkoth show the gallery’s most in-demand younger artists in fine form, while historic works from Felix Gonzalez-Torres and Alighiero Boetti add depth at a gallery that has been a perennial tastemaker since it was founded in 1987.

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The constant business at the booth was translating into transactions on the fair’s VIP day, with founder de Carlo saying he was “pleased” with the gallery’s sales so far. Works by Nkoth, Boetti, Jordan Casteel, Xiyao Wang, and Jenna Gribbon were among those reported sold, with prices ranging from €40,000 to €400,000 ($46,013 to $460,132).
Booth G13
With works by Seung-taek Lee
Seung-taek Lee, installation view in Gallery Hyundai’s booth at Art Basel, 2025. Courtesy of Gallery Hyundai.
Regarded as a leading figure in Korea’s post-war avant-garde, Seung-taek Lee is best known for upending artistic conventions with a practice he has termed “nonsculpture.” This style of work, which emerged during the same periods as major Western movements such as Arte Povera and Conceptual art, is similarly concerned with challenging conventions around what an artwork should look like and be made of.
The historical works presented by Seoul’s Gallery Hyundai are from the artist’s “bound” series, where Lee uses rope to constrain and bind everyday objects in uncomfortable-looking sculptures. “He didn’t really settle on using one material; he used different kinds of materials, like rope, rocks, papers, books, knives, and sickles,” said Fiona Hyewon Kwon, a director at the gallery.

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The solo booth takes an in-depth look at the artist’s preoccupation with constraint as a method of containment, reverence, and transformation. These works make visible the tensions between freedom and restraint. Whether wrapped tightly around a bronze torso or used to tie rocks onto a tree trunk, the rope in these works is active, almost threatening.
Now 93, Lee is an artist in high demand: His works were featured in the exhibition “Only the Young: Experimental Art in Korea, 1960s–1970s,” which toured the National Museum of Modern and Contemporary Art, Korea (MMCA) in Seoul, the Guggenheim Museum in New York, and the Hammer Museum in Los Angeles throughout 2023 and 2024. Works at the booth are priced from $35,000 to $350,000.
Booth G12
With works by Marina Adams, Imi Knoebel, Landon Metz, Francisco Sierra, Erin Shirreff, Claudia Wieser, Barry Flanagan, Camille Graeser, László Moholy-Nagy, Ted Stamm, and Sascha Wiederhold
Installation view of von Bartha’s booth at Art Basel, 2025. Courtesy of von Bartha.
With one wall painted in pink and another in gray, local gallery von Bartha’s booth is immediately eye-catching but carefully considered. “We curated one wall with mostly contemporary works, and then on the other side, we went for a more calm selection of works,” explained Claudio Vogt, a gallery representative. “So we wanted to share the whole program we represent and really do something that catches people’s eyes.”
Titled “Re-Action,” the presentation crosses generations of artists, exploring how artistic movements of the mid–20th century shape the gallery’s program today. While 1970s geometric works by American artist Ted Stamm present a rigorous formal language based on shapes and motifs, a new glazed ceramic tile work by German artist Claudia Wieser similarly points to geometry, but in a more playful, almost figurative way. It’s one of several counterpoints to be found in the booth, in which each work can both stand alone and reference others on view in the display.

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“We thought we wanted to bring in some color, some energy,” added Vogt. “A lot of energy is coming back from the walls onto us, so we can work hard throughout the whole week.” Prices for works start from $6,000 and stretch to more than $300,000.
Booth S13
With works by Frida Escobedo, Frida Orupabo, Torsten Andersson, Paul Fägerskiöld, Ayan Farah, Spencer Finch, Meuser, Hendl Helen Mirra, Ryan Mrozowski, Sophie Reinhold, Patricia Treib, Not Vital, Stanley Whitney, Rémy Zaugg, and John Zurier
Frida Orupabo, installation view of Her, 2024, in Galerie Nordenhake’s booth at Art Basel, 2025. Photo by Sebastiano Pellion Di Persano. Courtesy of Galerie Nordenhake.
It would be easy to pass by Galerie Nordenhake’s booth and do a double-take at the large pair of eyes staring back. The work in question, Frida Orupabo’s Of course everything is real (2024), consists of a collection of facial features, each isolated and printed on large aluminum sheets and suspended from the walls by metal poles. The piece demands and returns the viewer’s gaze, as the face comes together into one, though split into these constituent parts. The power dynamic between viewer and subject is also challenged in another work by the artist, Her (2024), an imposing curtain of halved faces that wraps around the other side of the booth.
The gallery booth, which foregrounds female and non-Western perspectives, also includes a series of “Cube” works by Frida Escobedo, who is working on designs for an expansion of the Tang Wing at the Metropolitan Museum of Art. Conceived as a cube subdivided into several compartments, each with jigsaw-like circular cut‑outs, these reflective stainless steel structures are displayed in a cluster in another part of the booth. The works capture the artist and designer’s interest in social time—how duration is experienced differently depending on perception.

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Also present are works from artists across the gallery’s program: Stanley Whitney paintings, as well as new works by artists such as Hendl Helen MIRRA, Ayan Farah, and Paul Fägerskiöld. In the early hours of the fair, the gallery was optimistic about its sales. “We’re noticing that people are less trigger-happy than maybe previous years,” said gallery founder Sten Nordenhake. “We’re selling well, but it’s just not [that] everything’s happening in the first five minutes. In recent years, anyway, people are taking their time.” Indeed, several works had been sold by the gallery during the opening day, including the Whitney painting for $350,000 and a trio of works by Orupabu for prices ranging between $24,000 and $41,000.
Booth E15
With works by Hurvin Anderson, Frank Auerbach, Patrick Caulfield, Lucian Freud, Barbara Hepworth, David Hockney, Howard Hodgkin, Henry Moore, Bridget Riley, Walter Sickert, and William Turnbull
Installation view of Offer Waterman’s booth at Art Basel, 2025. Courtesy of Offer Waterman.
“Best of British across various mediums” is how Offer Waterman’s senior director Robin Cawdron-Stewart describes the London gallery’s booth, and it’s hard to disagree with that claim when looking at the works on view.
Anchored by a delectable Patrick Caulfield painting of a waterfront meal spread, the booth contains no shortage of heavy hitters. Perhaps the heaviest hitter of the moment, David Hockney, is presented here in striking form. One wall is dedicated to a series of tender works on paper depicting various figures (as well as one of a bunch of spring onions). Another shows a series of etchings from the artist’s 1961-63 series “A Rake’s Progress,” reinterpretations of William Hogarth’s 18th-century narrative through a semi-autobiographical lens, chronicling Hockney’s experiences and disillusionment in New York. “They were made shortly after his first trip to New York, so he was sort of discovering and exploring the freedom of his sexuality over there. It’s a remarkably fresh, intact set,” noted Cawdron-Stewart.

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A sharp blend of satire, personal symbolism, and pop sensibility, the series is a reflection on identity, fame, and the loss of innocence in modern life. And as the artist’s largest retrospective currently runs at the Fondation Louis Vuitton in Paris, the gallery could not have picked a more apt time to bring them to the fair.
Booth C13
With works by Alia Ahmad, Georg Baselitz, Cai Guo-Qiang, Enrico David, Peter Doig, Lynne Drexler, Tracey Emin, Mona Hatoum, Richard Hunt, Robert Irwin, Isamu Noguchi, Marina Rheingantz, Kazuo Shiraga, and Danh Vo
Installation view of White Cube’s booth at Art Basel, 2025. Photo by Alex Burdiak. Courtesy of White Cube.
Having a lengthy list of stellar artists to display is one thing, but finding outstanding works by them that will all go well together across an art fair booth is another matter entirely. White Cube’s booth makes the latter sound easy: Here, the leading lights from the gallery’s roster and beyond are arranged together with effortless cool.
Take, for example, a pairing at the booth’s front corner. On one side is Peter Doig’s dreamlike, atmospheric painting Hill Houses (Green Version) (1991), where a row of houses appears almost to dissolve into their surroundings. On the other side is Michael Armitage’s In the garden (2015), in which a figure, painted on East African Lubugo barkcloth, is entwined in a surreal, mythical scene. The works make a stellar pairing, and, as the gallery’s global board director Daniela Gareh explained to Artsy, have a personal element, too. “One of the artists that Michael always was a champion of, and was inspired by, is Peter,” she noted.

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Further aesthetic parallels abound across the booth in clever, interesting ways. A spindly Richard Hunt sculpture stands in front of a diagrammatic work on paper by Julie Mehretu, bringing to attention each artist’s approach to kinetic lines. A thorough and diverse selection of abstract paintings also makes for rewarding viewing, from Sam Gilliam’s explosive, vibrant Mattress (1972), to Alia Ahmad’s Drifter 2 (2025), a freewheeling, sinewy new painting from the in-demand young artist. “When we hang, we try to create connections,” noted Gareh.
On VIP day, business at the booth got off to a robust start, with the gallery reporting the sale of Georg Baselitz’s Oh ho, siamo ritornati, am deutschen Wesen, Weltgenesungsbild (2023) for €2.2 million ($2.53 million).
Booth A10
With works by John Baldessari, Jef Geys, John McCracken, Carla Accardi, Robert Adams, Terry Adkins, Louise Lawler, Jean-Luc Moulène, Liliana Moro, Michael Venezia, and Catharina Van Eetvelde, alongside the newer voices of Erica Mahinay, Noam Rappaport, Lee Mullican, Luz Carabaño
Installation view of Galerie Greta Meert’s booth at Art Basel, 2025. Courtesy of Galerie Greta Meert.
Heady themes of language, identity, and categorization inform this stellar selection of works at Brussels-based Galerie Greta Meert’s booth. Spurred by a previous group show held by the gallery, the works here are what one of the curators of that show, Liam Everett, described as “an encounter with a UFO.”
Indeed, those entering the booth are greeted by a trio of minimal yellow and red Robert Mangold works (priced at $225,00 apiece) and a cryptic, deep purple slab by John McCracken propped against the wall (priced at $485,000). Other experimental approaches are featured by artists across generations, from Swedish artist Noam Rappaport’s abstract fragmented paintings, to Erica Mahinay’s gestural works in oil.

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Taken together, it’s a booth that points to the value of the unknown, shown through works that resist easy explanation. “It challenges the notion that art must be ‘understood’ by deciphering what it represents, rather than engaging with what it is,” said the gallery’s director, Kim Rothuys. “No prefabricated interpretations, no imposed narratives. Here, art stands uncompromised: enigmatic, elusive, and liberated from the demand for meaning. Because art does not explain—it exists.”
Booth K7
With works by Leonor Antunes, Cerith Wyn Evans, Mario García Torres, Yasuhiro Ishimoto, Sanya Kantarovsky, Yuki Kimura, Rei Naito, Makoto Saito, Hiroshi Sugimoto, Sofu Teshigahara, Tomonori Toyofuku, Ei Arakawa-Nash, Yann Gerstberger, Reika Takebayashi, and Kohei Yamada
Installation view of Taka Ishii Gallery’s booth at Art Basel, 2025. Courtesy of Taka Ishii Gallery.
In 1933, Japanese author Jun’ichirō Tanizaki published “In Praise of Shadows,” a 16-section essay that, among other things, discusses the subtle beauty of shadow, darkness, and imperfection.
In its elegantly constructed booth, Japan stalwart Taka Ishii Gallery takes inspiration from this essay. “We are showing works by artists and other artists that are not part of the gallery roster, but that we thought would be a good complement to the presentation,” said Elisa Uematsu, from the gallery.
Indeed, the works here meditate on the theme of subtlety in compelling ways. A pensive Hiroshi Sugimoto photograph captures a candle burning, while a pair of delicate paintings by Rei Naito employ almost microscopic dapples of color to simulate breathing. Another highlight is a group of works by Yuki Kimura, from a series that was showcased at the 2012 São Paulo Bienal. Here, Kimura uses photographs of the Katsura Imperial Villa in Kyoto, Japan, that were taken by her grandfather, suspending them within minimal metal frames. It’s a gesture that splices together different time periods through overlapping physical space.
Booth C16
With works by Sean Scully, Carmen Herrera, Dalton Paula, Otobong Nkanga, Anish Kapoor, Olga de Amaral, Yu Hong, Leiko Ikemura, Hugh Hayden, Kelly Akashi, Hiroshi Sugimoto, Wael Shawky, Allora & Calzadilla, Ryan Gander, Pedro Reyes, Carolee Schneemann, Oliver Lee Jackson, Tunga, Laure Prouvost, and Tishan Hsu
Installation view of Lisson Gallery’s booth at Art Basel, 2025. Courtesy of Lisson Gallery.
Almost 60 years since it was founded, Lisson Gallery has a flair for finding and platforming the artistic talent of the moment that remains as strong as ever. Its booth at Art Basel 2025 is a case in point.
Here, the gallery’s artists are on display at full wattage, and many of them are currently experiencing surges in art world momentum. A vast textile from Otobong Nkanga—winner of the 2025 Nasher Sculpture Prize—is at the center of the booth. Layered with different materials and meanings, the large woven textile work Cadence – Teardrop (2025) evokes the artist’s signature themes of land, memory, identity, and extraction in monumental style. Kelly Akashi’s Monument (Survival) (2025) is another standout. The sculpture depicts plants rising from polished onyx in a moving meditation on the recent Los Angeles fires, during which the artist lost her studio. There are also new works from modern masters such as Lee Ufan and Anish Kapoor, and pieces from artists who are receiving overdue attention, such as Olga de Amaral, who recently had an acclaimed solo show at the Fondation Cartier in Paris. Her linen, cotton, gesso, and acrylic wall piece Lienzos C y D (2015) subtly employs gold leaf to transform fiber into luminous, sculptural tapestries.
The booth also features notable historical pieces such as Carmen Herrera’s abstract metallic blue and brown painting Untitled (1948). It’s a trademark display of the artist’s approach to balance, symmetry, and spatial tension, distilling visual language down to its most essential elements.
Though disparate in tone and style, the works on view all flow into a cohesive whole. “We have a lot of artists, and when you’re doing a booth like this, you find ways to bring the artworks together,” said gallery partner Louise Hayward. “You could look at the list and go, how do all these artists relate? And yet, a combination of aesthetics and thematics brings them together.”
Sales on the stand got off to a strong start, with the gallery reporting that the de Amaral work had sold for an undisclosed sum, Ufan’s painting sold for $850,000, and a work by Dalton Paula had sold for $200,000.
Booth K17
With works by Leda Catunda, Rodrigo Cass, Pélagie Gbaguidi, Lucia Laguna, Jac Leirner, Ivens Machado, Ernesto Neto, Marina Rheingantz, Tadáskía, Adriana Varejão, Erika Verzutti, and Luiz Zerbini
Installation view of Fortes D’Aloia & Gabriel’s booth at Art Basel, 2025. Courtesy of Fortes D’Aloia & Gabriel.
If a gallery could be graded by its ability to secure institutional exhibitions for its artists, then Fortes D’Aloia & Gabriel would score very highly indeed.
Artists it works with include Tadáskía, who last year mounted a solo show at MoMA; Ernesto Neto, who has just opened a show at the Grand Palais; and Ivens Machado, whose first museum show opened in April at the Carré d’Art–Musée d’Art Contemporain. “We work hard on showing young artists to the institutions so they can follow the work,” said partner and director Alexandre Gabriel. “It’s hard work, but it pays [off].”

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From the works on view, it’s easy to see why museums are coming calling. Highlights from the booth include a vast and hypnotic 2025 canvas by Luiz Zerbini, a curved field of squares reminiscent of urban architecture. Meanwhile, a long horizontal assemblage of event tickets from Jac Lierner offers a personal glimpse into the artist’s tastes and memories.
Arun Kakar
Arun Kakar is Artsy’s Art Market Editor.
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