MIAMI, FLA.- UBS
, Global Lead Partner of Art Basel for over 25 years, will kick off the opening of Art Basel in Miami Beach (December 6-9, 2018) with the release of a new study on the attitudes and behaviors of US-based wealthy fine art collectors. According to the 2018 Art Basel and UBS Global Art Market Report, the U.S. continued to hold strong as the leading market for the worlds top 200 collectors, of whom 50% are based in the U.S. Moreover, 68% of global art dealers also cited the U.S. among their top three most important buyer nationalities.
"Art Basel in Miami Beach sits at the nexus of North America and Latin America and we have had incredible interest in the show from across our global collecting community this year. With strong figures and confidence in the U.S. art market, Art Basel in Miami Beach is assured as a key destination for collectors" said John Mathews, Head of Ultra High Net Worth Americas at UBS Global Wealth Management.
The UBS Lounge will feature a unique wallpaper, War of the Roses [Sound Graph], by painter and filmmaker Sarah Morris created especially for the show, as well as works by Morris from the UBS Art Collection, including a newly acquired painting, Precious Stone [Sound Graph], 2018. Morris is renowned for her complex, large-scale abstractions that are grounded in architectural concepts of space, form, and geometry, creating a vibrant graphic language all her own. Her work captures the energy of the modern city and explores systems of power that impact the urban as well as socio-political landscape. The UBS Lounge will also feature work by twentieth-century masters Frank Stella and Howard Hodgkin, offering visitors a snapshot of non-representational artwork across generations and styles.
Works by all three artists will also be featured in the newly renovated lobby of UBSs Midtown New York headquarters at 1285 Avenue of the Americas, to be completed in early 2019. Morris's redesign of a monumental wall painting originally created as an on-site installation at a former UBS building in Zurich will be a highlight of the new lobby. Also included in the space will be a wall sculpture by Stella, as well as a large-scale mixed-technique print by British artist Hodgkin, which is among his most ambitious and complex works.
"I want the viewer to be subsumed by the system of paintings that I'm creating, said Morris.
"Sarah has always had a clear and unique vision," said Mary Rozell, Global Head UBS Art Collection. "There is an incredible energy, vibrancy and boldness to her paintings. We first commissioned her wall painting in 2001 and we are thrilled to bring this reinterpreted work to the New York headquarters. This type of relationship with an artist, spanning decades, illustrates our approach to collecting the art of our time."
Celebrating Female Mentorship, Creating Greater Inclusivity
In the public area of the fair, the UBS Art Studio will celebrate female mentorship in the art world. Additionally, UBSs Project Entrepreneur will partner with Leche Lounge, founded by Stephanie Conduff, to offer a mobile lactation suite in the West Lobby that will be available to the public for the duration of the fair. Project Entrepreneur is UBSs flagship philanthropic initiative which aims to increase the pipeline of female founders and is part of the firms overall commitment to driving toward a more inclusive landscape for entrepreneurs.
UBS Investor Watch Pulse Report
In a special Investor Watch Pulse Report, UBS surveyed the attitudes and behaviors of wealthy fine art collectors and will release the findings the week of December 3, to coincide with Art Basel in Miami Beach.
These findings will be highlighted in a panel discussion on Thursday, December 6 from 10-11am in the UBS Lounge on The Passion and Purpose of Collecting, hosted and moderated by Jan Dalley, Arts Editor of the Financial Times. Panelists will include Mary Rozell, Global Head UBS Art Collection; Sean Kelly, Founder of Sean Kelly Gallery and host of the Collect Wisely podcast; and a prominent US Collector.