Miami Real Estate

Real Estate Agents See Art Basel As an Opportunity

Art Basel is about the art. But it’s also about the real estate, according to Women’s Wear Daily. The event touts affluence and money — and those who purchase multi-million dollar works of art are also prime candidates to spend similar money on beachfront luxury condos or sprawling, Palm Beach estate. After all, they need walls on which to hang their newly acquired art.

Per WWD, real estate agent and developers often sponsor events or partner with Art Basel-affiliated organizations to connect with wealthy patrons. Brokers incorporate chartered helicopters, yacht dinners (docked outside available, waterfront properties), and celebrity DJs into their sales strategy. Sometimes, events are even held at listings, such as this year’s New York Post Page Six Art Basel party, held at 1 Hotel and Homes South Beach in an on-the-market penthouse selling for an “undisclosed multimillion-dollar price.” 

In addition to previews and parties, real estate developers have also teamed up with the fashion side of Art Basel to draw in new leads, with a particular focus on international buyers from countries like Brazil. The Estates at Acqualina in Sunny Isles Beach boasts Karl Lagerfeld-designed lobbies; Missoni Baia in Edgewater is being developed in partnership with its namesake fashion house. Even spiritual (if not fashion) icon Deepak Chopra is in on the game.

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