More on the Grosvenor House Fine Art and Antiques Fair

Antony Thorncroft of the Financial Times has a very good article on the once prominent Grosvenor House Fine Art and Antiques Fair. The fair recently closed due to declining interest in antiques, poor economic conditions, lack of profits for the promoters and a venue that would rather have another function, more profitable function.

Thorncroft states Although sudden, the decision was not entirely unexpected. For some years now the fair has been living on its reputation. It prospered greatly when wealthy Anglophile Americans paid an annual visit to London to refurnish their mansions with Georgian furniture and Old Master paintings. Now such enthusiasts are thin on the ground, and London has ceded its position as the undisputed centre of the art trade to New York. Many of the major dealers in brown furniture, such as Jeremy Hotspur and Norman Adams, who had been the bedrock of the fair, retired. Such leading Old Master dealers as Johnny van Haeften and Colnaghi decided that they could do better business by concentrating on gallery events in July, when their key clients were in London for the major picture auctions at Sotheby’s and Christie’s. Other dealers pulled out because the cost of taking part, which could approach £70,000 for a large stand, was proving too risky an investment.

Thorncroft continues Three major West End furniture dealers, Apter-Fredericks, SJ Phillips and Mallets, had been discussing even before the demise of Grosvenor House a new event for London, Masterpiece, a fair that would bring together goods of the highest quality from classic cars to Old Masters.

Now, according to dealer Harry Apter, “we are working day and night to make it happen by June 2010.” The main problem is finding a central London site. The favoured location would be the grounds of Chelsea Hospital, and planning permission is being sought for what would be the capital’s largest marquee or, as Apter prefers to call it, “semi-permanent structure”.

There would be room for up to 200 dealers and again the hunt is on for foreign exhibitors. They expect a good response from former Grosvenor House colleagues, who should appreciate a considerable saving on their costs and a fair, like Maastricht, that is run by dealers for dealers.

To read the full Financial Times article, click HERE. (Please note, you might have to register to read the FT article.)