‘Momentum is what makes art sales happen,’ says the gallerist Iwan Wirth, ‘and the element of surprise is the magic ingredient.’ This is part of the thinking behind Basel Exclusive, a new initiative in which galleries participating in Art Basel’s main sector will withhold an outstanding work of art from presale until Art Basel’s VIP opening. 

‘It’s like a treasure hunt,’ says gallerist Jessica Silverman. ‘Who knows what you might find?’ Anticipation is high, fuelled by a list of artists revealed today that ranges from Pablo Picasso, Andy Warhol, and Jean-Michel Basquiat to Julie Mehretu, Niki de Saint Phalle, and Bridget Riley.

The move responds to what Maike Cruse, director of Art Basel in Basel, describes as ‘a desire to bring back an element of anticipation and urgency’ to the fair. ‘We felt there was too much pre-information out there,’ she says. ‘Collectors were arriving knowing what they were going to buy. This will generate some excitement.’

The initiative comes against the backdrop of wider changes within the art market. According to the latest Art Basel & UBS Art Market Report, geopolitical instability, tariffs, and global conflict are reshaping collector behavior and slowing parts of the market. ‘It is a very different world out there,’ says Cruse. ‘We are seeing a lot of transformation and our gallery's ability to adapt to it.’

This shift is prompting dealers to rethink how they operate – from the way they present artworks at fairs to the kinds of cultural experiences their galleries can offer. Below, five leading gallerists taking part in Basel Exclusive discuss how they are adapting to this changing landscape and why shouting louder is rarely the right approach.

Iwan Wirth, president, Hauser & Wirth

‘We love Basel Exclusive because saving ‘the best of the best’ as a surprise has effectively become our modus operandi – and it has proven extremely successful. At Art Basel Paris in 2024 we unveiled an exceptional work by Kazimir Malevich, and then, in 2025, Gerhard Richter’s Abstraktes Bild (1987), which sold for USD 23 million on the first day of the fair. 

‘Hauser & Wirth is not simply a gallery network: It is a global platform for artists, ideas, and cultural life – places where art is not only bought and viewed, but lived. In locations such as Downtown Los Angeles, Somerset, Menorca, and soon Palo Alto, we are building cultural ecosystems. Today, more than ever, our role is not about shouting louder. It is about making the artworld legible.

‘We all face a new challenge, for while the ecosystem has expanded, there is a shrinking pool of new collectors. In recent years, there has been considerable speculation around younger artists, driven in part by a more global and more youthful collecting audience. I do not mind speculation, but on its own it does not build collections and legacy. A love for art and artists always sits at the heart of the truly great collections. It will be critical to engage a new generation of collectors in the next decade. Our approach hasn’t changed, and we will double down: We champion breakthrough artists of all ages because great work has the power to connect across generations. What remains constant is the importance of trust and lasting relationships. The ‘experience economy’ is nothing new in the art world – for us, these encounters have always needed to have depth and meaning.’

Jessica Silverman, founder and CEO, Jessica Silverman

‘Much of what we do is about collector psychology. Dealers often feel pressure to presell major works once previews circulate, especially to trusted clients who may not be attending the art fair in person. While that can seem like the safest option, I was excited by the idea of holding something back.

‘My gallery is based in the Bay Area in San Francisco, which gives me a particular perspective. The city is shaped by innovation, technology, and new wealth generated by venture capital and the tech industry. We are going to see more billionaires, but will that mean we have more collectors? It is uncertain. 

‘I’m from Detroit, a city built around prototyping, and I would argue that San Francisco has a similar mindset. It is always looking toward the next thing. Digital tools are changing how people experience art. We represent Trevor Paglen, who is co-curating Art Basel’s Zero 10 digital initiative in Basel this year, and it is generating significant interest among Bay Area collectors. People can now visualize works through sophisticated renderings, which raises the question: Do they still need to see works in person?

‘My feeling is that attending Art Basel remains essential. It allows me to introduce my artists to a broader audience, especially as I am not based in one of the traditional art capitals of New York or Los Angeles.’

Eva Presenhuber, founder and owner of Galerie Eva Presenhuber

‘I think art still reveals its full potential in the analog world. Fairs remain a vital component due to the authentic face-to-face experience they offer. Seeing everybody amid all this amazing art generates an incomparable energy and fosters trust, which virtual platforms will never be able to replicate.

‘Today, galleries and collectors use art fairs differently. Collectors use fairs for efficient browsing and decision-making regarding acquisitions that will improve the quality of their collections. Galleries treat fairs as carefully curated platforms that support their artists’ careers. Different art fairs work for different artists – we adapt and change. 

‘I think galleries are already doing a great deal to make contemporary art more accessible to a younger audience through free exhibitions, events, and a stronger digital presence. Social media is a great tool to interact with favorite artists, and galleries are increasingly understanding this. Young people care about social and environmental issues, so it is important for a gallery to develop a distinct image that they can relate to.

‘I want to maintain the identity of the gallery by staying grounded with a qualitative core program. Over the years, we have had various locations in Zurich, New York, and Vienna. Many of the artists we represent live and work in New York City and Upstate so it is essential to be connected there. 

‘I believe in hard work, slow burners, and patience. Good art always eventually finds a way to persevere.’

Kamel Mennour, president and founder, Galerie Mennour

‘The biggest challenge I see for galleries is preserving depth and artistic integrity in a culture driven by speed and constant visibility. Art needs time, reflection, and freedom to evolve. Another challenge is education: encouraging people to experience exhibitions in person rather than virtually. 

‘Supporting younger artists responsibly is also essential – not simply promoting them quickly, but helping them build sustainable, long-term careers. ‘Mennour Emergence’ is an open call to young graduates, whereby six artists are chosen to participate in a mentoring program and group exhibition at Mennour. This kind of initiative is essential to the vitality of the gallery and the broader artistic ecosystem.

‘There is a real creative energy in Paris that is resonating internationally. The opening of the new Fondation Cartier pour l’art contemporain last October was an important moment. At Mennour, we are opening a new space on the Right Bank on Avenue Matignon in the former Galerie Malingue. We recently announced the representation of Yinka Shonibare and the Baya estate; she was a pioneer of Algerian painting who will have her first UK solo exhibition at Tate Modern in 2027.

‘Looking ahead, I am very excited about the forthcoming “Donation Kamel Mennour” exhibition at the Musée d’Art Moderne de Paris next year, featuring 218 donated contemporary artworks; it will mark a significant milestone in the gallery’s history.’

Casey Kaplan, founder and owner of Casey Kaplan

‘We have been rethinking our strategy for much of the past year, largely in response to changing demographics and visitor patterns. At Art Basel, we are showing fewer artists but presenting multiple works by them, rather than presenting single works by many different artists. The aim is to give audiences a deeper understanding of each practice.

‘This approach dovetails with Basel Exclusive, where we will announce the representation of a new European-based artist. Her work will be featured in Exclusive, and we hope it creates greater visibility for the artist and her place within our program.

‘The art world is less traditional than it once was. I do not consider myself especially traditional, but I do think of the gallery as being fairly so: brick-and-mortar, very disciplined in how we operate. We maintain an old-school philosophy in the way we work with people and present ourselves.

‘As the landscape changes, we have to adapt in ways that make sense, without losing our core ideals. I was in Bilbao for Igshaan Adams’s opening at the Guggenheim recently – it was the most extraordinary exhibition he has ever made. It’s experiences like this that drive us forward.’