Art Basel Miami Beach 2025 opened on December 3 with strong sales, led by David Zwirner's sale of an abstract Gerhard Richter painting for $5.5 million. Other major transactions included a $4 million George Condo work at Hauser & Wirth, a $3.3 million Alice Neel painting at David Zwirner, and a $2.85 million Willem de Kooning at White Cube. Hauser & Wirth reported sales 40% higher than its entire 2024 fair week within the first three hours.
The robust opening sales reflect renewed confidence in the art market, buoyed by November's $2.2 billion New York auction season. Richter's strong performance coincides with his retrospective at the Fondation Louis Vuitton in Paris, underscoring how museum shows can boost market demand. The fair serves as a key barometer for the art market's health heading into the new year.