Yitan Xu

Date of Award

2023

Document Type

MA Project - Restricted Access (SIA Only)

Project Type

MA Project - Business Plan

Degree Name

Master of Arts (MA)

Department

Art Business

First Advisor

Brendan Burns

Second Advisor

Eric Wolf

Abstract

Miami has traditionally been considered as a Latin city, with more than 70% of the
population being Hispanic. The city's art scene has historically been underdeveloped and marginalized, until influential private art collectors and the thriving real estate market started advocating for its growth. The pivotal moment came in 2002 when Miami was chosen to host Art Basel, which has since transformed and continues to reshape the city's art landscape. Art Basel Miami just celebrated its 20th anniversary last year with the largest edition yet, featuring 283 leading galleries from 38 countries and territories worldwide. Today, Miami is seen as a more diverse, international art hub with immense potential. Art institutions, private museums, galleries, and art fairs are increasingly participating in this artistic revolution. In recent years, an emerging trend has been the influx of affluent individuals to Florida, attracted by the warm weather and the absence of state income tax. Large corporations are relocating their headquarters or opening new branches in the area, bringing a wealthy and taste-conscious population with them. These individuals are focused on quality of life and are willing to invest in it. The COVID-19 pandemic has also provided an impetus for people to move to their ideal locations and seek out a better lifestyle. This has further spurred the real estate market, leading to an increased demand for art to adorn their new
homes.YiTAN Gallery is a commercial gallery located in the Design District of Miami, which aims to promote emerging contemporary Latin American and Asian artists, with an emphasis on underrepresented female artists in Southern Florida.

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