artnet news | Julia Halperin:

As the middle market shrinks, many dealers are finding they can’t afford to do fairs—but they can’t afford not to, either.

Think art fairs are all about sold-out booths, comfortable shoes, and exclusive dinner invitations? Think again. For many small to mid-size galleries, fairs—like Art Basel in Basel, which opens to VIPs today—are an increasingly nail-biting gamble that involves paying hundreds of thousands of dollars up front with no guarantee of a payoff… Read more

Image: Kaikai Kiki Gallery at Art Basel Hong Kong 2017. Photo courtesy of Art Basel.