Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Why Bankers Go to Basel

June 12, 2017 by Marion Maneker

Katya Kazakina sets the scene for Art Baselwith this quote from Robert Mnuchin:

  • “In the last several years, more art has been bought as an investment than ever before,” said Bob Mnuchin, whose New York gallery is showing a $12 million painting of a gun by Andy Warhol at its booth. “Other assets seem to be less certain to people, so art, which has an international, not national identity, seems like a more comfortable place to be.”

If you’re dealing with assets, you’re going to find bankers milling around. Sure enough, Kazakina speaks to several on why they go to Basel in June:

  • “Our clients are here, so we are,” said Deepak Soni, chief executive officer of Zurich-based Vontobel Swiss Wealth Advisors.
  • “You have to be able to offer content,” said Dan Desmond, a private wealth adviser at Morgan Stanley. “No one is going to Basel to have dinner with their banker unless that banker knows about art.”

More from Art Market Monitor

  • Clare McAndrew’s UBS Report Says Gallery Sales Down 36% Due to PandemicClare McAndrew’s UBS Report Says Gallery Sales Down 36% Due to Pandemic
  • Hazlitt Holland-Hibbert Brings British Pop to BaselHazlitt Holland-Hibbert Brings British Pop to Basel
  • Gorky, Mitchell Lead Hauser + Wirth Art Basel StandGorky, Mitchell Lead Hauser + Wirth Art Basel Stand
  • Mnuchin Previews Sam Gilliam for Art BaselMnuchin Previews Sam Gilliam for Art Basel
  • Art Fairs, Transfer Fees and Inequality in the Gallery WorldArt Fairs, Transfer Fees and Inequality in the Gallery World
  • McAndrew’s Art Basel Report Says Art Fair Sales Up 17% to $15.5bn, 46% of Dealer SalesMcAndrew’s Art Basel Report Says Art Fair Sales Up 17% to $15.5bn, 46% of Dealer Sales

Filed Under: Art Fairs Tagged With: Art Basel

About Marion Maneker

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

Top Posts

  • After Pandemic’s Rapid Change, Sotheby’s Has 8 Predictions for 2021
  • For 2020, Phillips Brought in Total of $760.4 million, Down 16 Percent from 2019; Asia Sales Up 24 Percent
  • Keith Haring’s 1989 Retrospect Comes to Sotheby’s London Prints Sale
  • A Season of Resilience: Fall 2020 Hong Kong Auction Analysis
  • Tony Podesta's Secret Art Buying
  • Soulages First Owned by Senegalese Poet-Politician Léopold Sédar Senghor Sells in France
  • A Season of Improvisation: Fall 2020 New York Modern and Contemporary Art Auction Analysis
  • Four of Picasso's Women Valued at $28m Come to Christie's from Rose-Walters Collection
  • Norman Rockwell's Not Gay. But Is He a Great Artist?
  • Christie's Announces $70m Picasso Self Portrait
  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor