The swiss group MCH had to decide to cancel the edition 2020 of Art Basel, the big contemporary art fair that takes place each year in Basel, which was dropping its course on Monday at the swiss stock Exchange. The fair, which is usually held in June, had initially been postponed to September due to the pandemic.
However, among the health risks, the financial risks for exhibitors, travel restrictions as well as uncertainties regarding the authorization for the holding of major events, the swiss group concluded there was “no other option” but to cancel this edition. “The decision to cancel Art Basel has been taken after extensive consultation with many galleries (exhibitors) at Art Basel, collectors and partners as well as external experts,” said the MCH Group in a press release issued Saturday.
The decision to cancel Art Basel has been taken after extensive consultation with many galleries (exhibitors) at Art Basel, collectors and partners as well as external experts.
MCH Group.
accordingly, the action of the group MCH Group, which has already lost 41% of its value since the beginning of January, fell 3.35% to 15,85 swiss francs, just before 10 h. By comparison, the SPI, the expanded index values of the swiss stock Exchange, withdrew 0.29%.
back in June 2021
To combat the pandemic of Covid-19, the swiss government had taken a series of measures, starting with the prohibition of the events of over 1,000 people. This first measure, imposed at the end of February, had led to the cancellation of the major events that punctuate usually the year in Switzerland, including the auto show of Geneva, and the great fairs of the watchmaking industry.
Basel is the historical birthplace of this fair highly collectible. But with its growing success, the fair organizers also hold each year an extra edition in Miami since 2002, and in Hong Kong since 2013. Because of the pandemic, the event also had to be cancelled in Hong Kongoù it should have been held mid-march, but the organisers have for the time maintained that of Miami, which should take place in early December.
read also : Art Basel Hong Kong, a record edition online
The Basel fair each year held in a ballet of private jets over the airport of Mulhouse-Basel, where the rich and collectors have been flocking to the arrival of the first in the aisles of the salon, which brings together the largest art galleries in the world. Edition 2021 to be held from 17 to 20 June, with two days reserved for the collectors the first time, the 15 and 16 June.
The editorial team conseilleAvec the Covid-19, the calendar of shows and art fairs turns case-têteLourdes Leon, daughter of Madonna in an orgy of arts in Art BaselSujetsbâleHong KongMCHartCovid -19Aucun comment
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