Art Basel Cancels Baloise Art Prize, Traditionally for Emerging Artists
3June 18, 2026
The organizers ofArt Baselhave canceled theBaloise Art Prize, theArt Newspaperreports. Established in 1999, the SFr30,000 (roughly $37,000) honor had been presented annually to two artists whose work appeared in the fair’s Statements section, devoted to emerging artists. The prize was historically administered by Swiss insurer Baloise Group, which purchased works by the winning artists and donated them to institutions including Luxembourg’s MUDAM; the Museum für Moderne Kunst (MMK) Frankfurt, and the Hamburger Bahnhof in Berlin.
Baloise last year merged with rival Swiss insurer Helvetia, in a $10.8 billion deal that will save the new entity, Helvetia Baloise Holdings, some $435 million annually and cost 2,600 workers their jobs.
“Baloise and Art Basel jointly decided last year to adapt their collaboration for the future and to continue it in the field of hospitality,” a spokesperson from the newly merged insurer told the Art Newspaper. “Going forward, we will place greater emphasis in our art sponsorship on our own platforms, such as our collection presentations.”
An Art Basel spokesperson was unable to confirm to the publication whether the prize would be reinstated at a future date, but noted that two other prizes for emerging artists—the MGM Discoveries Prize at Art Basel Hong Kong and the emerging artist category at the annual Art Basel Awards—had been brought back in recent years.
Among the previous winners of the Baloise Art Prize were such then-unknown artists as Sara Cwynar, Ryan Gander, Sky Hopinka, Tourmaline, and Haegue Yang.
Some galleries participating in the Statements section lamented that they had only learned of the prize’s cancellation the week before the fair opened.
“I am unsure why Art Basel neither informed us in advance, nor were able to find funding to replace the prize,” one anonymous exhibitor, who learned about the cancellation just days before the event’s opening, said. “There are enough billionaires and corporate donors here.”
An Art Basel spokesperson told the Art Newspaper that the decision to cancel the award had been made in 2025, with the selection committed subsequently notified and application materials updated. “We regret any confusion that may have caused for exhibitors in our Statements sector,” said the spokesperson.