It’s difficult to say what seduced me more: the Alpine crispness, the art, or the crowd who moved through luxury the way others move through supermarkets.
Boutique enough to unfold inside a villa. Lavish enough to justify a helicopter landing pad overhead. Between February 12 and 15, 2026, in St. Moritz, it housed around 25 galleries. Free entry with prior registration. Three floors of exhibitions, with food and drink tucked stylishly into the ground and lower level. I braced myself for the usual alpine inflation – yet a large latte with
extra milk was 5 CHF. In St. Moritz terms, it qualifies as democratically priced.

And I couldn’t help but contrast it with the last art fair that made such a huge impression on me - Frieze New York;
six floors, nearly 70 galleries, $90 single-day tickets
(tax politely waiting to surprise you), and headlines announcing that artist Jeff Koons’s Hulk Elvis
sold for over $3 million.
At Frieze, everything expands at once: the number of works, the brightness of the lights, the density of people, the urgency of attention. The experience becomes a kind of visual and social crescendo.
Certainly impressive, but also overwhelming.
NOMAD St. Moritz gave viewers a feeling of peace and quiet, opposing the overwhelming "noise" and bright lights.
What many collectors admit only in private is that the so-called “Art fair fatigue” is real. The marathon viewing sessions.
The fluorescent lighting. The social choreography
of being seen seeing art.
It’s not out of context.
According to late-2025 market reports by Forbes and Business Insider,
wealthy consumers are increasingly allocating their money toward
experiences – travel, private aviation, fine dining –
while traditional tangible goods stagnate.
Art and design rank only fourth among luxury impulses.
We are, of course, speaking about the demographic
that can afford anything at any time.
Which raises an uncomfortable question: if even the ultra-wealthy are shifting from objects to experiences, what happens to art fairs built purely on transactions?
There was no cafeteria-style chaos.
Instead, a zero-waste pop-up by London’s pioneering restaurant Silo, founded by Douglas McMaster, TIME’s Most Influential Climate Leader and World Class Chef, sustainability not as a trend, but as a structure.
Closed-loop gastronomy. Local sourcing. A mission embedded
in the menu. Not catering. Curation.
The entry room was wrapped in red: red floor, red ceiling, red desk, red everything. The NOMAD logo glowed in red neon. The main door aligned theatrically with the entrance to the Armani exhibition –
free of charge, yet charged with symbolism.

Of course, one could argue that heavy pre-selection is a cognitive shortcut. In an era where we scroll instead of study, are we outsourcing taste to curators? Perhaps.
But in the age of the attention economy – where focus is fragmented and monetized – protecting a viewer’s mental space becomes
its own luxury.
The real indulgence is no longer access. It is attention.
And it seems to me that NOMAD understands this.
This year marked the first standalone edition led by founder Nicolas Bellavance-Lecompte, separate from longtime partner Giorgio Pace, who launched his own cultural platform, Der Pavilion, in St. Moritz just days before NOMAD opened. Healthy competition – or rivalry – depending on how closely you follow art-world micro-politics.
When I asked Bellavance-Lecompte what defined this edition,
his answer was immediate: executive precision. A highly structured team. Every decision is deliberate.
And whether by instinct or by rivalry, you could feel it.
Nothing accidental. Nothing lazy.

Perhaps I risk invoking The Emperor’s New Clothes,
saying aloud what others politely avoid.
Art is becoming a less immediate purchase. The pool
of buyers is small, and economic pressures shrink it further.
If art now competes with exclusive retreats and space tourism,
fairs cannot afford complacency. They must evolve from
marketplaces into environments
Just as Ferrari once needed Ford to innovate under pressure,
art fairs now need competition to refine their identities..
And I, even as a viewer rather than a collector for now, am here for that curated competitiveness, hoping it continues
to produce not just transactions, but moments.