Art Basel Miami Beach VIP Preview Entrance, all photos on site for Art Observed by Erica Schwartzberg

On Wednesday, December 5th, 2012, Art Basel Miami Beach hosted its 11th annual VIP Preview at the Miami Beach Convention Center. Organizers claim Art Basel Miami has surpassed its Swiss sister Art Basel in size and popularity, though it has yet to surpass attendance figures (62,500 people in 2010). This year, 680 galleries competed to show at Art Basel Miami and 257 were selected. More than 2,000 artists are represented and attendance is expected to top last year’s 55,000 figure. Though definitive sales reports are difficult to pin down (Art Basel Miami never releases official records), $2.5 billion worth of art was on offer in 2011, and several galleries reported record sales. VIP guests include business magnates Steve Wynn, who purchased a Roy Lichtenstein, and Eli Broad, who purchased a Jeff Koons sculpture. Newsprint mogul Peter Brant gave Owen Wilson a tour, and Will Ferrell ceded the stage to his wife Viveca, who sits on the board of the Los Angeles County Museum. Also spotted: Sean “Puffy” Combs purchasing an Ivan Navarro sculpture, Diane von Furstenberg, comedian/actress Chelsea Handler, and music mogul Russell Simmons. The following is a photoset from the 2012 Art Basel Miami Beach VIP Preview.

Jesús Rafael Soto, Cubo de Roma, Galeria Elvira Gonzalez

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The Guardian calls Eva and Adele (as it did Gilbert & George) “living artwork;” art pair tells the newspaper, “We invented our own sex.” [AO Newslink]

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Kehinde Wiley’s portait of Michael Jackson entitled Equestrian Portrait of King Phillip II at Deitch Projects

It is rumored that in years gone by determined collectors were dressing as janitors in order to sneak into Art Basel Miami Beach prior to its official opening in order to snatch the most coveted pieces before their rivals. While this kind of vigor has not returned to the fair since the economic crash stalled the art market in 2008, the mood at today’s VIP preview seemed to be reflect the the vote of confidence that was delivered to the American art market when active bidding returned to the floor of the Post-war and Contemporary Auctions in New York last month.

More text and images after the jump…..
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