Art Basel Miami: When the Rich Cut Back

Art Basel is now over and Miami Beach can go back to the quaint fishing village it’s know as for most of the year. But before we officially bid farewell, we look to the things Alexandra Peers noticed at the art fair about how the current economic crisis has affected the art world, along with a few other tidbits of wisdom picked up along the way, bottling it all up in “Seven Things We Learned at Art Basel Miami.” Here’s one not so good sign:

3. Even for the superrich, it’s tough times. Halfway through a packed “Champagne and Canapes” brunch at the Cartier dome, the jeweler stopped serving Champagne. Gulp.

For more info on Art Basel, we recommend checking out our many insightful posts, of course. We’ve also been enjoying Art Info‘s complete coverage.