Complex sentence: Art Basel Miami Beach has been held annually since 2002, has been held in Miami Beach and Miami, Florida each December, and along with adjoining fairs and associated events has eclipsed the original Art Basel in size, popularity, if not importance.
Split into simpler sentences: Art Basel Miami Beach has been held annually since 2002, has been held throughout the city each December. Along with adjoining fairs and associated events, Art Basel Miami Beach has eclipsed the original Art Basel in size, popularity, if not importance.