
THIS WEEK'S HOT TOPIC
The most important question to ask when you first enter the art market is not “which artist should I buy or pay attention to?” It’s “how do I get information?” Well you already made a smart step getting in subscribing to No Reserve, and maybe even upgraded to The Baer Faxt.
With 3,000,000+ artists (in the US alone), thousands of galleries and museums, and dozens of art fairs, no one—not even an art advisor—sees it all.
If you were a lawyer and watched Law & Order you would say "that's not what happens" or if you were a doctor and read the local paper on health care, you would say "hmmm, but…” —well, the same logic applies to the art market.
So, who do we choose to listen to?
Behind paywalls are Annie Armstrong at Artnet, whose Wet Paint column spies on a younger generation; former gallerist (and No Reserve contributor) Tim Schneider’s The Gray Market, which gives excellent insights through a broader lens beyond the art world; and for detailed auction/market news, check out Marion Maneker’s Wall Power on Puck.
In the free zone, check out the Instagram of collector Jeff Magid, who often ruminates on the same topics we do. And don’t forget the live-wire artist/dealer/collector Kenny Schachter, on Artnet and/or Instagram.
3 THINGS…TO KNOW ABOUT YOUR FIRST ART BASEL MIAMI BEACH
1
Art Basel week is socially and physically exhausting, and trying to chase everything will only burn you out. Before you arrive, choose three to five events or experiences you’re genuinely excited about—whether that’s a museum show, a private preview, or a cocktail party—and make those your priorities. Try to limit yourself to one major commitment per day, then let the rest of your schedule fall around them. This way, you’ll leave Miami feeling like you truly accomplished what mattered most to you.
2
That said, RSVP to everything. Other than formal, seated dinners—where you should only RSVP if you’re sure you’ll attend—it’s expected that plans during Basel are fluid. Better to have your name on a guest list and skip than to miss out entirely. This flexibility not only keeps your options open but also increases your chances of stumbling into unexpected encounters, new connections, or parties that turn out to be more interesting than they looked on paper.
3
Remember that you’re there for the art. With the endless dinners, parties, and beachside distractions, it’s easy to forget why you came in the first place. Make time to see as much art as possible—at the fair itself, in satellite shows, and in museums across the city. You’ll feel more grounded, and your trip will be more rewarding, if you leave Miami with strong impressions of the art and a few meaningful conversations about it, rather than just a string of parties you barely remember.
A NUMBER TO KNOW
Zero
The number of changes to the top three most searched artists in Artnet's Price Database between 2015 and 2025, according to the company's internal reporting. To save you a click: Picasso maintained his death grip on first place, followed by Andy Warhol in second and Marc Chagall in third.
Despite plenty of talk about generational changes in taste lately, Artnet’s results reinforce that the core of the auction sector tends to remain surprisingly stable year after year, at least over the medium term. Whether most people believe the secondary market is relatively strong (as it was in 2015), distressingly weak (as the narrative holds for this year), or somewhere in between (where it usually is, chatter be damned), the artists making up its foundation stay largely the same.
That said, it’s important to tease out what this ranking actually means—and what it doesn’t. We’re not talking about the top-selling artists at auction, whether by value or by volume. We’re not even talking about the artists with the highest number of lots offered. Instead, we’re purely talking about which three artists’ names appeared the most in any kind of query at all of Artnet’s auction price database, regardless of the details.
In this sense, the best analogy is probably to something like an auction market Q score, aka a measure of how prevalent a particular person or brand is in an audience’s consciousness. Picasso, Warhol, and Chagall have been front of mind for a lot of folks in the trade over the past decade thanks to their prolific creative production and their continued resale appeal. At this rate, it’s not a wild bet that the same will still be true of this trio in 2035, too. (Editor’s note: The most searched artists in The Baer Faxt’s free-to-use Auction Database were Warhol, Basquiat, and Picasso.)
—Tim Schneider / The Gray Market
ASK: ACCESS SOPHISTICATED KNOWLEDGE
This time we turn the tables and play one of our favorite parlor games by asking YOU: Which living artist do YOU think will stand the test of time in 50 years in terms of art, not the art market?
Let us know by replying directly to this email. We can’t wait to hear from you!
Have your own question for the No Reserve team? Reply to this email or reach out to us on Instagram, @no.reserve. Readers whose submissions we choose get a special prize: six free months of The Baer Faxt.
NO RESERVE+
Last week, for The Baer Faxt Live from London, our own Josh Baer sat down with leading voices from across the city’s dynamic art scene (and beyond). The first two conversations — with Pilar Ordovas, Founder of Ordovas, and Ed Dolman, Founder of Dolman Partners LLP and former CEO of Phillips and Christie’s — are now available to watch. Explore their perspectives on the market, their personal journeys, and the future of London’s cultural landscape in the full interviews here and here.
2 MINUTES WITH…
New to collecting, or want to dip your toe in the upcoming edition of Art Basel Miami Beach? Here some insider tips from Judd Grossman, Founder and Managing Partner of Grossman LLP. Recorded live at Art Basel Miami Beach 2024, watch the full interview 👉🏼here.
WANT MORE?
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