In Downtown Miami, the Miami Art Museum (101 W Flagler Street) has an extensive collection of postwar art and some far out conceptual pieces.

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In 2011 Perez, an avid collector of Latin American art, sparked controversy when the Miami Art Museum agreed to rename itself the Jorge M.

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New York City-based fashion label Public School, for example, designed the staff's uniforms, and Miami's Museum of Contemporary Art worked with the hotel and artist Jorge Pantoja to craft a five-piece collection of paintings displayed in the lobby.

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In addition to a number of international exhibitions this year, and on the heels of a retrospective of her work to date at London's prestigious Hayward Gallery, come early 2013, Emin will have her first solo show in the U.S. at Miami's Museum of Contemporary Art.

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This issue was also raised during a panelist discussion at The Armory Show last month when Bonnie Clearwater, director of the Museum of Contemporary Art, North Miami, pointed out that before the last recession, the price of art works by many young new artists shot up before they had received much critical exposure.

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