Dealers taking part in Art Basel’s Statements section for emerging galleries say they were surprised to learn just days before the fair opened that a long-running prize has been quietly cancelled.
Since 1999, the Basel-headquartered insurance company Baloise has sponsored a prize awarding two solo artist presentations in the Statements section each SFr30,000 (around $37,000). The works were then donated to leading European museums, including Frankfurt's Museum for Modern Art, the Hamburger Bahnhof in Berlin and the Museum of Modern Art in Luxembourg (Mudam).
Last year, Baloise merged with another Swiss insurer, Helvetia, in a deal worth $10.8bn, creating the country’s second largest insurance company, Helvetia Baloise Holdings. The deal will save the new company SFr350m annually, and cut 2,600 jobs, reported Swiss.info.
A spokesperson for Helvetia Baloise said: "Baloise and Art Basel jointly decided last year to adapt their collaboration for the future and to continue it in the field of hospitality. Going forward, we will place greater emphasis in our art sponsorship on our own platforms, such as our collection presentations."
Art Basel did not comment as to whether there are plans to reinstate an award for the Statements section. However, a spokesperson pointed to two other initiatives reinstated in recent years by Art Basel for emerging artists: the MGM Discoveries Prize at Art Basel Hong Kong and the emerging artist category at the annual Art Basel Awards, for which this year Aziza Kadyri, Carla Gueye, Diego Marcon, Precious Okoyomon, Tiffany Sia and Farah Al Qasimi are nominated.
"Art Basel is deeply grateful to Baloise for its many years of support for emerging artists through our Statements sector," the spokesperson said. "Statements remains a cornerstone of Art Basel in Basel and of our commitment to emerging galleries and their artists."
Nonetheless, some exhibitors in the Statements section say they were informed of the award's cancellation only at the last minute.
“I was not aware the prize was not taking place until last week,” says Silke Lindner, whose eponymous New York gallery debuts at Statements this year. Another Statements exhibitor, speaking anonymously, said that they were only informed of the prize’s cancellation over the weekend. “I am unsure why Art Basel neither informed us in advance, nor were able to find funding to replace the prize. There are enough billionaires and corporate donors here.”
Addressing the timeframe of notifying exhibitors of the award's cancellation, an Art Basel spokesperson said in a statement to The Art Newspaper: "In spring 2025, Art Basel was informed that Baloise intended to discontinue the partnership after the 2025 edition of the Art Basel in Basel show. Following this, Art Basel informed the Selection Committee accordingly and updated the relevant application materials. We regret any confusion that may have caused for exhibitors in our Statements sector."
Previous winners of the Baloise Art Prize have gone on to become some of contemporary art's most recognisable names, including Ryan Gander and Haegue Yang. Last year, the prize was awarded to Rhea Dillon, shown by Soft Opening from London, and Joyce Joumaa, brought by Montreal's Eli Kerr gallery.