New Prize Adds to Artful Anticipation

With the 2024 edition of Art Basel marking the show's return to full scale and the largest edition since 2019, the buzz for 2025 is already gathering pace. Attracting attention is the new MGM Discoveries Art Prize, organised by Art Basel and MGM (MGM China Holdings Limited), to be presented at the fair. The prize is dedicated to supporting emerging artists and fostering new talent. It recognises originality and innovation showcased in the art fair’s Discoveries sector and supports artists in their pursuit of limitless possibilities.

A total of 242 leading galleries from Asia-Pacific, Europe, the Americas, Africa and the Middle East participated in March 2024, including 69 galleries returning to the show after a hiatus and 23 participating in the fair for the first time. Significant sales were posted across all market segments, geographies and media, and there was much talk about the bristling local art scene. The next edition is looking to build on this.