Three years, three cheers: Art Basel Miami Beach has already turned the art world upside down.(All access: Miami)

MIAMI BEACH -- The city on the sand has made such a big splash in the art world that it suddenly rivals any art haven on earth. December's Art Basel Miami Beach pulled in a record 33,000 visitors, including Val Kilmer, designer Todd Oldham, artist Robert Rauschenberg and infamous ex-Disney exec Michael Ovitz.

Over the three short years since its inception, this fair--each year swelling with more art and events than the year before--has ballooned into the most important art event in the western hemisphere. About 190 galleries from across the globe served up helpings of masters (Rothkos, Oldenburgs, Twomblys) as well as hipsters (Damien Hirst, Martin Creed, Jenny …