Frieze Fair Review

Lindsay Pollock writing for the Art Newspaper has a good review of the past weeks events at the contemporary Frieze Art Fair in London. Early indications from dealers and the Christie's sales showed much promise for a rebounding of the contemporary art market, which as we all know had been hit rather hard over the past year.

In her review, Pollock states there is now a renewed confidence in the contemporary art market.  Where last years Frieze Fair was extremely poor, this year many dealers and gallery owners went in with solid expectations and left with many signs of optimism as well as sales. Although many of the sales reported were below the $100,000.00 threshold, as a good portion of the fair was geared toward newer collectors and affordability by both the promoters and the exhibitors.  So from that perspective it was a good sale for the middle market.

Pollock states

The fair attracted collectors who have only recently come into the market, taking advantage of lower prices and greater supply. “There was a general correction: asking prices are down 40% in some cases,” says hedge fund manager Thomas Sandell, who purchased works by Glenn Ligon and Barnaby Furnas on his first trip to Frieze.

Fair organisers responded (camouflaging the weak market and fewer exhibitors) by transforming a section of the fair into “Frame”, a platform for younger dealers showing cheaper art by less well known artists in solo presentations. “Frame is a good move to introduce new voices,” said Matthew Higgs, head of New York’s non-for profit White Columns space. Dealers were pleased with the results. “People who are on top of things came here,” said San Francisco dealer Claudia Altman of Altman Siegel (R25). “Plus, prices are low.” Altman featured Trevor Paglen’s poetic images of US surveillance satellites priced $6,000 to $9,000. She sold three.

While sales have not returned to anywhere near 2007 levels, the fair has elevated the moods of both buyers and sellers. “The spirit is infinitely better than last year,” said New York art adviser Stefano Basilico. “There’s more pep in people’s walk.”

To read the full Art Newspaper review of the Frieze Art Fair, click HERE.