Art Market
Osman Can Yerebakan
Interior view of Art Basel 2024. Courtesy of Art Basel.
Long lines, bustling aisles, and fast-emptying champagne flutes—these are among the common fixtures of art fair VIP days around the world. These VIP previews, as they’re also known, usually take place before the fair’s public opening, and are invitation-only affairs where the cream of the art world queues up to get a first foot onto the land of the art banquet.
At most fairs, the VIP day is reserved for top target clients, artists, industry players, critics, celebrities, and their plus-ones to ensure potential buyers are given the first look at the works on view. It’s also a day filled with the social rituals of schmoozing and networking that make up much of the grist in the art world’s mill. “They are invaluable tools to share and receive information about artists, exhibitions, industry information, and connecting with new faces,” said art advisor Elizabeth Fiore.
With the snowballing popularity of art fairs in the 21st century turning the likes of Art Basel and Frieze into bona fide cultural brands, VIP days are also as much a place to be seen as a place to see art. “As our audience expands, we see a new generation of art collectors and patrons emerge across the world, coming from traditional and new industries,” said Irene Kim, Art Basel’s global head of VIP relations. “It is extremely important that we continue to deliver audiences experiences that best position our exhibitors to place their artists’ work in meaningful collections.”
Crowds at VIP days are a constant topic of debate: Not enough people and the day can feel a bit limp, but overcrowding is also a source of consternation among many. “Crowds are affecting the ability to actually see work and make it harder to make a decision on the spot, especially for a new artist I may not be familiar with,” said collector Kim Manocherian.
Fair organizers kindle client interest early on through booth collector outreach and year-round VIP programming which keeps the communication with collectors warm outside the marquee events. Frieze’s executive director Kristell Chade said the fair keeps their collector network “under constant review” to ensure their galleries reach the right audience at each global edition. Luigi Fassi, director of Turin’s Artissima, considers the key offering of his fair’s VIP program as an “experience which is a tailor-made in-depth exploration of the local institutions, primarily focusing on contemporary art but not exclusively.” Kim also underlines that her department’s goal is to create an “unmissable, 360-degree art experience for both emerging and established VIP audiences.”
The thrill of being among the first to share the in-person moment with friends and colleagues still draws thousands of invitees to the fairs on the exclusive day. Dallas Art Fair’s VIP relations director Sarah Blagden explains that she and her team each year “comb through their list line by line to keep it tight, as well as create tiers, the latter being a more recent need.”
Here, we take a look at what VIP days entail, and what collectors need to know about attending them.
What happens at an art fair VIP day
Interior view of Frieze London 2024. Photo by Linda Nylind. Courtesy of Linda Nylind and Frieze.
VIP days carve a more industry-focused first day for collectors and their advisors to talk and shop art. These private days also host museum curators seeking to expand their institutions’ collections, as well as members of the press and artists. By nature, these preview days are also social gatherings for sector fixtures to catch up and gauge the next few days’ energy.
Kim explained the main goal of her VIP team which actively operates across four continents in more than 25 key art markets to ensure that the “right people are in the right place at the right time to facilitate meaningful connections…whether it is a collector forging deeper relationships with the galleries they love while discovering new artists, or museums planning their future exhibitions or making new acquisitions for their collections.”
Frieze, meanwhile, has expanded its VIP team parallel to the need to reach a broader collector base after Frieze acquired U.S. fairs The Armory Show and EXPO Chicago. “This expansion allows us to cultivate deeper relationships across key regions and provide more personalized services,” said Chade, who adds that “collectors will always be the cornerstone of our VIP lists.” Besides artists and art professionals, a sprinkling of celebrities in London and Los Angeles iterations adds the icing on the fair’s global brand.
VIP days are invitation only, and as such, you’ll need an invite, which most commonly includes a plus-one. Each participant gallery receives a set of VIP passes to send to their established clients, while the fair also releases a set of invitations to their curated list. Each organization has a VIP team that monitors new pass requests and sends out additional invitations to approved guests.
Interior view of Artissima 2024. Copyright Perottino-Piva-Castellano-Peirone / Artissima. Photo courtesy of Artissima.
Even after around 30 years in the sector, art advisor Elizabeth Fiore notes that a typical VIP day has only seen a slight change. She is among the first to step into the venue, with her eyes set on a few works to fetch for some of her clients. What has changed is she—like many collectors—usually receives preview PDFs from exhibiting galleries two or three weeks in advance, which is in fact when her communication kicks off. “The opening day is not the real starter for an advisor,” she noted.
Fiore considers VIP days, and the period leading up to them, as crucial for being the collectors’ eyes and ears. “I am doing this on behalf of my clients who rely on me, especially when they don’t have time to attend the fair at all,” she said.
Collectors are well advised to seek out previews from choice galleries, either through their advisors or by reaching out to the sales directors who they have established communications with. This might also be the right time to seed new contacts—collectors eager to expand their network can communicate with galleries that represent the artists they are interested in.
Interior view of Art Basel Paris 2024. Courtesy of Art Basel.
For collector Kim Manocherian, the bustling atmosphere of a VIP day is also a chance to connect with friends and colleagues who are often helpfully gathered under one roof. “This is also about the opportunity to speak with a gallery from another country and start something that can be impactful afterward,” she said.
Manocherian favors the VIP day for the opportunity to connect with people who she mostly deals with on the phone or gallerists she has not yet met. “I can also remind the dealers who I didn’t buy from in the past year that I am still alive,” she said. Manocherian admits to carrying what she humorously calls the “art disease,” which means she always ends up leaving any VIP day with a purchase or two.
Some fairs are also rethinking the VIP format more generally. In an effort to diversify its VIP slots, Turkey’s premier art fair Contemporary Istanbul recently launched a day-two program that starts with an “At First Sight” day for top collectors. It continues with the VIP day, which also hosts curators and other art professionals. The fair’s vice chairperson Rabia Bakıcı Güreli explained that the first day’s exclusivity “not only enhances their acquisition experience but also allows for deeper discussions with gallery representatives and artists, creating a more personal connection with the artworks.” She thinks this two-day structure “creates a balance that benefits both collectors and art practitioners.”
How many sales are made on the VIP day?
Interior view of Dallas Art Fair 2024. Courtesy of Exploredinary and Dallas Art Fair.
Sales reports abound after the VIP days of major fairs, where most ambitious collectors usually settle on their objects of desire as early as they can. It is not, however, uncommon for buyers to contemplate artworks with the most robust price tags.
In October’s inaugural Art Basel Paris, for example, the most expensive VIP day sale reported was White Cube’s sale of Julie Mehretu’s gray-hued painting Insile (2013) for $9.5 million. Hauser & Wirth, however, fetched the overall fair’s top reported sale spot on the second day, with its placement of Louise Bourgeois’s sculpture Spider I (1995) for $20 million.
The example illustrates a fact true of all art fairs: VIP days are far from the be-all and end-all when it comes to purchasing works. Fiore goes back to a fair on public days if a deal spills into a few days or a client lands in town later and wants to make sure they have seen everything. The VIP experience, according to the art advisor, lies in being made to feel special, especially in a competitive market when exclusivity may feel less so. Kim admitted noticing a “shift in the dynamic,” in terms of the VIP day dominating the sales, and attributed the change in her fairs partially to “reinforcing opportunities for visitors to return to the show.” She listed this week’s Art Basel Miami Beach as an example of an “everyday selling” show.
Fassi notes that although the preview day sees a significant number of sales, Artissima functions as a four-day fair that many collectors attend over the weekend. He attributes this partially to their attention to take time and explore the overall platform: “This results in a more relaxed approach, where the interaction with gallerists and artworks takes on an intense quality, requiring and enjoying time spread out over several days.”
Interior view of Mai 36 Galerie’s booth at Frieze Seoul 2024. Photo by Lets Studio. Courtesy of Frieze and Lets Studio.
Chade also thinks there is still “a focus” on preview day sales; however, she points out recent editions that have proven that “collectors are allowing themselves time to build relationships with galleries and consider their purchases.” She notices a growing number of VIPs returning to the fair on other days as well as hands shaking on a transaction during the weekend.
Bakıcı Güreli also notices the thinning of the gap between VIP day sales and those finalized on public days. She attributes the shift to the transformation of emerging collectors’ acquisition habits: “There is a growing awareness of the art world, particularly among younger generations who increasingly view art not just as an aesthetic pursuit but as a valuable investment for their future,” she said.
Blagden doesn’t overlook the significant number of sales that get sealed on the opening day, but she added: “You would be surprised how many sales take place on Sunday!” In other words, the VIP day is far from the only day that matters, especially considering most galleries rotate their booths throughout the fair’s run and exhibit new works on each public day.
Beyond the VIP day
Exterior view from the Tersane Istanbul, 2024. Photo by Firuz Soyuer. Courtesy of Contemporary Istanbul.
Most major fairs today operate as the nexus of annual art weeks that span smaller satellite fairs, unveilings of long-awaited museum and gallery shows, performances and talks around town, and, of course, the parties and dinners. The central fairs plan their VIP programming with a vision that encourages their select invitees to explore outside the aisles and experience what these art weeks have to offer.
Frieze’s successful coining of a “Frieze Week” in its host cities also raises the expectation of a crafted VIP program. “In each of our host cities, our deep connections to artists, galleries, collectors, and institutions allow us to offer tailored experiences by opening doors and giving our VIPs access that they can’t get anywhere else,” said Chade. Kim added that besides turning each Art Basel into a “city-wide initiative,” they offer their VIP guests “best-in-class benefits.”
These weeks can include events such as Frieze New York’s collaboration with High Line Art to bring performances to Chelsea’s elevated park, such as Matty Davis’s striking takeover Die No Die earlier this year.
Collector house visits are among the charming lures in Dallas Art Fair’s VIP program guests are welcome to sneak into hosts’ personal collections across the rooms. “Collectors here, such as Marguerite Hoffman, are incredibly generous in opening their homes and spaces,” said Blagden, and lists the Cowboys Stadium collection, the Warehouse, and the Karpidas Collection as recurring highlights.
Andro Eradze, installation view of Raised in the dust, 2022. Courtesy of the artist, SpazioA Pistoia and Artissima.
Besides adding a “feeling of community,” according to the director, the visits also have an educational aspect, encouraging newer clients base about the future growth of their collections. Blagden also doesn’t sleep on the opportunity to give their local VIP base the stage to shine.
It’s not unusual for other art fair representatives to host events at other art fair weeks, either.
Contemporary Istanbul’s investment in a larger global footprint is also supported by the strategy to host a private reception during most major art extravaganzas, such as 2023’s dinner at the historic Hotel Les Trois Rois during Art Basel or a cocktail hour at The Betsy Hotel during Art Basel Miami Beach. “These partnerships with institutions help us foster long-term relationships within the art community,” added Bakıcı Güreli.
Bakıcı Güreli also believes in the potential of collection visits in setting a template on how to collect: “These visits not only reveal the diverse purchasing habits of local collectors but also highlight emerging galleries and introduce promising young artists to a broader audience.”
Besides art, fairs also offer a convenient excuse to visit different parts of the world. Culinary discovery, for example, is another charming promise for Artissima’s select crowd. The fair’s blissful overlap with the fall’s truffle season in this case intrigues those seeking to activate their taste buds to shed off fair fatigue. As the director of a fair tightly associated with its city, Fassi underlines Artissima’s “symbiotic” relationship with Turin, and notes that “there is not a single Turin institution with which we do not collaborate, through awards and acquisition budgets.”
With the art industry in constant fluctuation—in terms of both the market and social cues—VIP days are likely to remain an unchanged fixture. Not unlike all aspects of the fair system, however, they will surely adapt slightly new forms and rituals, all while sales firmly remain the core impetus.