Miami Beach commissioners have approved a new agreement that keeps Art Basel Miami Beach at the Miami Beach Convention Center through 2031. The deal lowers the license fee but adds benefits for city residents.
The city estimates the fair drew 80,000 visitors in 2025 and generated $570 million in economic activity across Miami-Dade. The fair started in Miami Beach in 2002 as a counterpart to its Swiss predecessor and helped launch the regional visual arts and visitor boom now known as Art Week. The first fair had 160 galleries from 23 nations. Last year it had 283 galleries from 43 nations.
Under the agreement, the base license fee for 2026 is $500,000, which is $454,585 less than the current fee. Starting in 2027, the fee rises by at least 3% and up to 5% a year. The convention center and nearby sites cannot host competing art fairs or commercial art events 30 days before or after Art Basel. Design Miami is exempt.
Art Basel will also pay yearly for city services. The city’s police, fire and emergency medical costs during Art Week start at $300,000 a year, and Art Basel covers anything above that. The fair will add $100,000 a year for transportation and mobility and $50,000 for the city’s STEAM+ initiative.
Miami Beach residents will get a seven-day presale for tickets at half price, limited to two per person. Commissioners raised the presale cap from 2,000 tickets to 2,500 at their Oct. 14 meeting. After the presale, residents will get discounts of at least 20%.
Commissioner David Suarez cast the only no vote. He wanted unlimited half-price tickets. Art Basel CEO Noah Horowitz did not commit to that, citing capacity limits.
