Miami’s Art Fairs Can Account for 50 Percent of a Gallery’s Annual Sales.

What happens when one of the largest and most lucrative art events of the year gets cancelled?

Hundreds of dealers from all over the world who are regular exhibitors at Art Basel in Miami Beach are about to find out—and they’re bracing themselves for a sobering result.

After the forced cancellation of the Hong Kong and Switzerland editions of the event earlier this year, organizers briefly held on to the hope that Miami could proceed in December as planned, before finally announcing on September 2 that the in-person edition would not take place, and would be replaced by a virtual fair.

For Miami Beach, the cancellation has serious implications.

The lines to get into Art Basel in Miami. Courtesy of Art Basel.

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