"The Gulf has become an art market hot spot, but insiders say the biggest challenge facing its newest arrivals isn't how to tap the region's wealth, it's how to unlearn assumptions that they may bring with them, particularly concerning the area's money, power, and cultural depth. With Art Basel Qatar debuting next week, the region is no longer a peripheral scene but a new axis of influence for the trade."
"Alongside homegrown firms, European outfits have been establishing outposts, such as London's Maddox gallery, which just opened in Dubai, and Colnaghi, which will open a Riyadh location this year, following a $2.7 million investment from a Saudi fund. But the entry of the esteemed Swiss fair, and its rival, Frieze, in Abu Dhabi later this year has some concerned that it could be a case of too much, too soon."
The Gulf market has rapidly risen into a global art hub, propelled by state-funded museum projects and a growing commercial gallery sector. Art Basel Qatar's debut and the arrival of major fairs are reframing the region as a new axis of influence for the art trade. European galleries and local dealers are establishing outposts across Gulf cities, and significant investments are fueling expansion. Concerns persist about rapid growth producing boom-and-bust cycles. Sustainable development requires arriving without preconceived notions, listening to local contexts, and understanding the region on its own terms to avoid repeating other markets' mistakes.
Read at Artnet News
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