Why do Billionaires Go to the Big Global Art Fairs?
Art Basel in Miami Beach wrapped up last week, and the perpetual party that is South Florida is just a little bit quieter for now. On a recent afternoon in New York, I sat down with a friend who is deeply expert in contemporary art and asked him a simple question: what is it with billionaires and art? And why do so many extraordinarily wealthy people attend these big art fairs, like Art Basel Miami, year after year? He smiled as he glanced out at the glum, rainy, cold Manhattan sidewalk scene. “Well for one, it’s in Miami Beach.”