Baloise Art Prize Axed at Art Basel Statements, Leaving Exhibitors Off Guard

A Two-Decade Partnership Comes to an End

Art Basel's Statements section, the fair's dedicated platform for emerging galleries, has quietly lost one of its most significant accolades. The Baloise Art Prize, which since 1999 has awarded two solo presentations with SFr30,000 each, will not return — though many exhibitors only discovered this in the final days before the fair opened.

The prize, funded by the Basel-based insurer Baloise, saw winning works donated to major European institutions including Frankfurt's Museum for Modern Art, Berlin's Hamburger Bahnhof and Luxembourg's Mudam. Recipients have included now-prominent figures such as Ryan Gander and Haegue Yang. Last year's winners were Rhea Dillon, presented by London's Soft Opening, and Joyce Joumaa, shown by Montreal's Eli Kerr gallery.

Merger Behind the Decision

The cancellation follows Baloise's $10.8bn merger with fellow Swiss insurer Helvetia, creating Helvetia Baloise Holdings — Switzerland's second-largest insurance group. The combined entity expects annual savings of SFr350m and is cutting 2,600 jobs.

A spokesperson for Helvetia Baloise confirmed the shift in direction: "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."

Last-Minute Notice Draws Criticism

While Art Basel stated that it was informed of Baloise's intention to discontinue the partnership in spring 2025 and subsequently updated application materials and notified the Selection Committee, several Statements exhibitors say they received no meaningful advance warning.

"I was not aware the prize was not taking place until last week," said Silke Lindner, whose eponymous New York gallery is debuting at Statements this year. Another exhibitor, speaking on condition of anonymity, said they were only told 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."

An Art Basel spokesperson said the fair "regrets any confusion that may have caused for exhibitors in our Statements sector."

What Remains for Emerging Artists

Art Basel declined to comment on whether a replacement award for Statements is in development. However, the organisation highlighted two other initiatives aimed at emerging practitioners: the MGM Discoveries Prize at Art Basel Hong Kong and the emerging artist category within the annual Art Basel Awards. This year's nominees in the latter include Aziza Kadyri, Carla Gueye, Diego Marcon, Precious Okoyomon, Tiffany Sia and Farah Al Qasimi.

"Art Basel is deeply grateful to Baloise for its many years of support for emerging artists through our Statements sector," the spokesperson added. "Statements remains a cornerstone of Art Basel in Basel and of our commitment to emerging galleries and their artists."

Still, the abrupt disappearance of a prize that helped launch notable careers raises questions about how the fair plans to sustain meaningful support for early-stage galleries and their artists going forward.