Art Basel stays at the convention center through 2031 under new deal

Art Basel Miami Beach will keep its December home at the Miami Beach Convention Center through 2031 under a revised agreement approved by the City Commission, Miami Today reported last week.

The new deal sets the fair’s base license fee at $500,000 for 2026, which is $454,585 less than it pays now. Starting in 2027, the fee rises at least 3% and up to 5% each year.

What residents get

• A seven-day presale of half-price tickets for residents, limited to two per person.
• The presale cap rises from 2,000 to 2,500 tickets. Commissioners raised it during their Oct. 14 meeting.
• After the presale ends, residents get at least 20% off.

Commissioner David Suarez voted against the agreement, according to Miami Today, after pushing for unlimited half-price tickets for residents. Art Basel CEO Noah Horowitz declined to commit to that, citing limited capacity.

Who pays for what

The city covers the first $300,000 a year of police, fire and emergency medical costs during Art Week, and Art Basel reimburses anything above that. The fair will also pay $100,000 a year toward transportation and mobility and $50,000 a year to the city’s STEAM+ program.

For 30 days before and after the fair, the convention center and nearby city sites can’t host competing art fairs or commercial art events; Design Miami is exempt. The deal also keeps the Art Basel Zone, from 16th to 24th streets between Alton Road and the ocean, where the fair has approval rights over special events on public property during fair week.

The city estimates last year’s fair drew 80,000 visitors and generated $570 million in economic activity across Miami-Dade, according to Miami Today. This year’s fair runs in early December.