What developments can we expect in the art market in the coming months?
Is it accurate to describe the current situation as a crisis?
This week, all eyes are on London as the Frieze London and Frieze Masters fairs take place from October 9 to 13.
Recently, there has been considerable discussion about the growing competition between the Post-Brexit London and the Paris of Art Basel.
Guillaume Cerutti, the chief executive of Christie's, and gallerist Massimo De Carlo have expressed two important viewpoints on these matters.
Cerutti, as reported by Melanie Gerlis in the Financial Times last September, said during his participation in the Art Business Conference in London: "The real challenge, now, is not about the post-Brexit rivalry between London and Paris, but more how can we, the commercial field and the museum world, pull together to keep Europe at the centre?”
Currently, Europe is suffering more than the United States from complicated geopolitical scenarios that inevitably impact global trade in goods.
However, according to Massimo De Carlo, who was interviewed by ArteEconomy24 (Marilena Pirrelli), it is primarily auction houses industry (-27% in the first half of the year) which is slowing down in the collectibles market.
De Carlo said, "The sign of the crisis is the drop in turnover and auction prices, but it is only that model that is disappearing, not the demand for art. After thirty years of the rise of the market with hundreds of auction sessions, fairs, and exhibitions visited, the collector now knows that works have a very different history from a narrative that has always seen as unique value, even in journalistic terms, the achievement of the highest price."
Getting back to Frieze 2024, I've selected a few highlights from the works on view in this edition, spanning from Surrealism (2024 marks 100 years since André Breton’s Surrealist Manifesto) to Arte Povera and Contemporary Art:
FRIEZE MASTERS
KURT SELIGMANN
Untitled (The Exorcist), Circa 1930s
Oil on glass, 71.1 cm x 86.4 cm
Price on Application
Presented by Weinstein Gallery
LUCIO FONTANA
La Novia (The Bride), 1940
Painted and glazed terracotta, 45 cm x 12 cm
Price on Application
Presented by Robilant + Voena
GEORGES BRAQUE
Nature morte au poisson et citrons, 1943
Oil on canvas, 31 cm x 65 cm
$250-500k
Presented by Colnaghi
ROGER HILTON
May, 1960
Oil on canvas, 71 cm x 75.5 cm
Price on Application
Presented by Osborne Samuel
YOO YOUNGKUK
Work, 1972
Oil on canvas, 136 x136 cm
Price on Application
Presented by PKM GALLERY
BARKLEY L. HENDRICKS
Brenda's Sister, Barbara Jean, 1977
oil, acrylic and Magna paint on linen canvas, 132.7 x 132.7 cm
Price on Application
Presented by Jack Shainman Gallery
FRIEZE
PIERO GILARDI
Pesche Cadute, 1967
polyurethane foam, 51 cm x 51 cm x 20.5 cm
$80,000
Presented by CHERTLÜDDE
LEIKO IKEMURA
Lying Head, 2020-2021
Cast glass, 14 cm x 33 cm x 24 cm
Price on application
Presented by Lisson Gallery
WAEL SHAWKY
I Am Hymns of The New Temples: Pompeii Ceramic amphora#03, 2023
Clay, 129 cm x 52 cm x 52 cm
Price on application
Presented by Lia Rumma
SHAFEI XIA
Fight and the party, 2024
watercolor on sandal paper mounted on canvas, 145 cm x 302 cm
$20-50k
Presented by P420
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