Art Basel Miami Beach 2024: UBS to unveil new commission and largest work to date by Sagarika Sundaram among other presentations

Miami, FL, November 14, 2024 – UBS, the Global Lead Partner of Art Basel, returns to Art Basel Miami Beach in 2024 with a variety of presentations, including a new commission by New York-based artist Sagarika Sundaram and recent acquisitions from the UBS Art Collection in the UBS Lounge; the UBS Art Studio presentation in collaboration with ARTNOIR, featuring works by Peruvian-American textile artist Sarah Zapata, alongside public panel discussions. Art Basel Miami Beach 2024 will take place from December 6 to 8 at the Miami Beach Convention Center (MBCC).

“2024 marks a milestone in our partnership with Art Basel, as we celebrate 30 years of collaboration, including our proud involvement with Art Basel Miami Beach since its inception in 2002,” said John Mathews, Head of Private Wealth Management, Americas at UBS. “This year, we’re excited to reveal an ambitious new commission by Sagarika Sundaram and a solo presentation by Sarah Zapata among others, highlighting the innovative and diverse voices that define the fair. Together, we continue to honor the lasting impact of art through this extraordinary moment.”

The UBS Lounge at Art Basel Miami Beach 2024 will feature a group presentation titled Threads, bringing together works from the UBS Art Collection by artists who take an innovative approach to textile and craftbased art to explore traditional distinctions between art, craft, and design. UBS commissioned Sagarika Sundaram to create the expansive centerpiece of this display, her largest piece to date, Released Form, made from hand-dyed wool and silk. The installation, which can be reconfigured, creates an immersive experience where form and void, surface and structure, become tangible forces that reshape the viewer’s perception of space. The Lounge will also showcase the Collection’s recent acquisitions by Maja Bajević, Liza Lou, Suchitra Mattai, Cheryl Pope and Yinka Shonibare, among others.

UBS has a decades-long history of supporting cultural initiatives worldwide and continues to use contemporary art to inspire ideas and enrich lives. The UBS Art Collection, one of the world's leading corporate art collections with over 40,000 works by international artists is central to UBS’ commitment to art. The UBS Art Gallery in New York City offers public exhibitions, where a selection of the works from the Threads presentation from Art Basel Miami Beach will be on view in spring 2025.

“This year’s UBS Lounge presentation reflects the critical recognition of textile-based works, with artists like Sagarika Sundaram pushing the boundaries of the medium. Sundaram’s monumental work transforms textiles UBS AG News Release, November 14, 2024 Page 2 of 4 Media Relations ol-media-relations-americas@ubs.com into powerful sculptural forms. This presentation, alongside the other activations during the fair, reinforces UBS's commitment to supporting art that inspires, sparks conversations and provides new perspectives,” said Mary Rozell, Global Head of the UBS Art Collection.

At its new location in the southwest corner of the show floor near the Positions sector, the UBS Art Studio, in collaboration with ARTNOIR, a global creative collective and non-profit organization, will feature Upon the Divide of Vermilion, a solo presentation of works by Peruvian-American textile artist Sarah Zapata. The UBS Art Studio will become an immersive space where textiles and architecture intersect, exploring themes of identity and transformation. Zapata’s forms, inspired by classical and ancient structures, create a personal and architectural experience. The presentation is curated by Larry Ossei-Mensah, one of the co-founders of ARTNOIR. The UBS Art Studio will host select art workshops that will be open to fair visitors.

“Sarah Zapata’s Upon the Divide of Vermilion offers a profound exploration of identity, culture, and creativity through the powerful interplay of textiles, sculpture, and architectural forms. At Art Basel Miami Beach 2024, ARTNOIR and UBS proudly present this transformative work, inviting audiences to experience art that transcends boundaries and connects us through our shared human story,” said Larry Ossei-Mensah Curator and Co-founder of ARTNOIR.

UBS Talks & Insights

UBS will participate in two panel discussions as part of Art Basel Miami Beach renowned Conversations program curated by Kimberly Bradley at the Auditorium (Grand Ballroom), which are both free and open to the public.

On Thursday, December 5 at 4pm to 5pm EST, Solita Marcelli, Chief Investment Officer Americas for UBS Global Wealth Management will be featured in a panel titled ART AND THE GREAT WEALTH TRANSFER. Solita will be joined by Dr. Clare McAndrew, founder of Arts Economics and author of The Art Basel and UBS Survey of Global Collecting 2024, and Alex Glauber, President of The Association of Professional Art Advisors (APAA).

On December 7, from 4:30pm to 5:30pm EST, UBS will present a panel titled Transformation: Craft, Identity, and Materiality in Art, featuring artists Sagarika Sundaram and Sarah Zapata, who will be in conversation with Larry Ossei-Mensah, curator and co-founder of ARTNOIR.

UBS and Art Basel School Group Program

As the Supporting School Access Partner of Art Basel Miami Beach, UBS enters the second year partnering with the art fair to offer complimentary tickets for Art Basel Miami Beach to students across KIPP Miami, Miami Dade County Public Schools, and New World School of the Arts. The initiative provides enriching educational experiences in the world of Modern and contemporary art and will support access to the fair for nearly 1,000 students. For more information about UBS’ Social Impact initiatives, please visit: https://www.ubs.com/global/en/sustainability-impact/social-impact-and-philanthropy.html

Global Collecting Insights

UBS recently published the Art Basel and UBS Survey of Global Collecting 2024 and the Global Wealth Report 2024 providing new insights into the ever-evolving art collecting landscape. The Art Basel and UBS Survey of Global Collecting 2024 report is available for download here; Global Wealth Report 2024 is available for download here.

As the largest domestic market for art, and headquarters for the highest value international sales, the US remained the biggest importer of art, with a 32% share of global imports, stable year-on-year, increasing slightly by 1%.

Key findings in 2024 include that high-net-worth individuals (HNWI) are very willing to explore new artists and were critical in supporting the careers of living artists at early stages and throughout their careers. The survey found that the share of works by female artists in the collections of HNWIs rose to 44% in 2024, its highest level in seven years, up from 33% in 2018. Art fairs, like Art Basel Miami Beach, remained a key channel for new discoveries. Almost all art collectors (97%) planned to purchase a work of art over the next 12 months.

About UBS

UBS is a leading and truly global wealth manager and the leading universal bank in Switzerland. It also provides diversified asset management solutions and focused investment banking capabilities. With the acquisition of Credit Suisse, UBS manages 6.2 trillion dollars of invested assets as per third quarter 2024. UBS helps clients achieve their financial goals through personalized advice, solutions and products. eadquartered in Zurich, Switzerland, the firm is operating in more than 50 markets around the globe. UBS Group shares are listed on the SIX Swiss Exchange and the New York Stock xchange (NYSE).

About UBS & Contemporary Art

Global Lead Partner of Art Basel, UBS has a long history of supporting contemporary art and artists. The firm has one of the world’s most important corporate art collections. UBS seeks to advance the international conversation about the art market through its global lead partnership with Art Basel, and as co-publisher of the ‘Art Basel and UBS Global Art Market Report’ and the ‘Art Basel and UBS Survey of Global Collecting’. UBS also supports some of the world’s most important arts institutions, events, and fairs. Through UBS Art Advisory & Collecting, UBS provides UHNW clients and their family offices impartial advice and execution services across the whole lifecycle of a collection, from strategic development and governance to making an impact through cultural philanthropy and the transition of collections into the next generation.

About UBS Art Collection

The UBS Art Collection consists of more than 40,000 works, including paintings, works on paper, photography, sculpture, video, and installations by artists from around the world and is widely recognized as one of the most important corporate art collections. The UBS Art Collection’s guiding mission is to collaborate with and collect works by significant artists of our time. Most of these works are displayed in UBS offices globally, serving as an inspiration for employees and a platform for dialogue with clients and the public.

About Art Basel

Founded in 1970 by gallerists from Basel, Art Basel today stages the world’s premier art shows for Modern and contemporary art, sited in Basel, Miami Beach, Hong Kong, and Paris. Defined by its host city and region, each show is unique, which is reflected in its participating galleries, artworks presented, and the content of parallel programming produced in collaboration with local institutions for each edition. Art Basel’s engagement has expanded beyond art fairs through new digital platforms and initiatives such as The Art Basel and UBS Global Art Market Report and The Art Basel Shop. Art Basel’s Global Media Partner is The Financial Times. For further information, please visit artbasel.com.

About ARTNOIR

ARTNOIR is a female-majority and black-brown owned, NYC based global collective and 501(c)(3) with a mission to celebrate and highlight the work of creatives of color while catalyzing cultural equity across the arts and culture industries.

We seek to empower artists, enthusiasts, curators, forward thinking organizations, storytellers, designers and patrons, to explore alternative perspectives to the traditional arts narrative, while leveraging the intersectionality of art and culture to develop new access points for discussion, exploration and collaboration. artnoir.org // @artnoirco

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