The Venice Biennale’s Polite Fiction of Being ‘Above the Market’ Is Wearing Thin

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Venezia! Art types are now embarking on their biannual pilgrimage to the Most Serene Republic for the opening of the 61st Venice Biennale . Strictly speaking, that unparalleled curatorial platform is not a selling event, but of course there are market machinations humming just below the surface. (Look for dealers and advisors near the front of your plane.)

Over the past decade or so, it’s becoming increasingly common for galleries to foot the bill for their artist’s projects in Venice and other high-stakes biennials: the cost of making (and shipping) ambitious installations has soared, but budgets have not. Naturally, gallerists swing into town, hoping to generate some returns on their investment.

In recent years, other commercial ventures have begun taking part in the festivities, hosting events and sponsoring various initiatives. Venice is a long way from becoming brand-saturated, like Miami Basel, but things are changing.

Auction houses have pulled back on pavilion support this year, but there are still plenty of client-facing events in the works, and even a cheeky sale to be had. Fashion houses like Bottega Veneta and Chanel will be busy. And Frieze is helping to bankroll the British Pavilion for a second time, this year supporting a showcase of the revered Turner Prize-winning painter Lubaina Himid. Let’s take a look at what’s in store.

Prime Real Estate

Christie’s is not supporting a pavilion this year (the auction house backed the British Pavilion in 2024, as well as Nigeria’s). It is, however, hosting a private selling exhibition, starting on Monday, at the sumptuous 15th-century Ca’ Dario Palazzo on the Grand Canal, which is currently available through Christie’s International Real Estate . The property, just steps from the Peggy Guggenheim Collection , is a Venetian wonder, featuring frescoes, Murano glass chandeliers, and a Moorish fountain. It was even painted by Claude Monet in 1908; his canvas is currently on view in “Monet & Venice” at the de Young in San Francisco.

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Despite its splendor and prime location, the palazzo—reportedly listed for an on-request price of around $24 million—has struggled to sell, sitting empty due to a rather macabre history that some say has “jinxed” it . According to the lore, the palazzo has been linked to no fewer than seven deaths, perhaps most notoriously the 1970 slaying of its former owner, Count Filippo Giordano delle Lanze , who met a gruesome end at the hands of his boyfriend within its walls.

The invite-only selling exhibition, impressively titled “Ghost Pavilion: A Venice Revealed,” features works by Mark Bradford, Andy Warhol, and Louise Bourgeoise. These will be hung alongside Venetian gems, including Édouard Manet ’s 1873 view of the Grand Canal and a portrait of Laura Dianti by La Serenissima’s hometown hero Titian. Prices range from $500,000 to upwards of $35 million.

A Packed Calendar

After helping to cover the $5.8 million bill for Jeffrey Gibson in 2024, Sotheby’s is not supporting this year’s U.S. pavilion, where sculptor Alma Allen will present new works amid backlash over his appointment as the nation’s representative. The pavilion’s organizer, the newly created American Arts Conservancy , has instead taken the novel (and ostensibly desperate) approach of crowdfunding the exhibition.

A spokesperson for the auction house said its Venice calendar is packed with exclusive excursions for those in its Preferred client program, ranging from intimate tours of Laurent Asscher ’s AMA Foundation and the Marcantonio Brandolini Studio to private views of Marina Abramovic at the Gallerie dell’Accademia (supported by Lisson ) and Jenny Saville at Ca’ Pesaro (supported by Gagosian) . Sotheby’s is also hosting its customary breakfast at the Peggy Guggenheim Collection and its traditional dinner at the Gritti Palace, which is supplemented by a steady stream of client lunches and cocktail hours.

Auction houses and their executives have long orbited the Venice Biennale, drawn by the high density of top-tier collectors and institutional power. The quiet, behind-the-scenes courtship that once defined the trade’s relationship to Venice has given way to a more open acknowledgment of its influence. If the Biennale once maintained a polite fiction of distance from the market, that separation now feels largely beside the point.

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