Art Basel launches solidarity fund for struggling galleries

Art Basel has created a CHF 1.5 million solidarity fund to support galleries facing financial losses at its upcoming fair in Basel, scheduled for September 24–26, 2021. The initiative comes amid Swiss government restrictions on large events, including a ban on AstraZeneca vaccine recipients attending fairs, which has heightened exhibitor concerns over low visitor and collector turnout. Each of the 272 confirmed exhibitors can opt into the fund; if all participate, each would receive an additional 10% reduction on their stand fee, on top of an existing 10% discount. The fund will be managed by an independent auditor. Global Director Marc Spiegler appealed to galleries' solidarity, suggesting that those who do well might forgo their share to help struggling peers. The fund addresses long-standing debates about the high cost of fair participation, echoing David Zwirner's 2018 proposal that larger galleries should subsidize smaller ones. Art Basel had already introduced a sliding-scale pricing system for main-section stands in 2019 based on gallery turnover. The pandemic has accelerated discussions on sustainable fair models, and this emergency measure could become a permanent fixture.