Frieze London 2024:

Highlights and Market Realities

This year’s edition of Frieze London introduced its biggest redesign in over a decade. Instead of placing mega-galleries at the entrance, the fair gave more space to emerging artists and mid-sized international galleries. Dealers said this shift noticeably increased foot traffic and gave the event a more energetic feel.

 

Sales across the fair were healthy, though not spectacular. The VIP preview and early days brought encouraging reports, with galleries noting stronger interest than they had anticipated. At Frieze Masters, Hauser & Wirth secured a major highlight with the sale of Arshile Gorky’s The Opaque (1947) for $8.5 million, alongside works by Manet at €4.5 million and Picabia at $4 million. Other leading names also had good results, with David Zwirner placing a Lisa Yuskavage painting for $2.2 million, along with works by Yayoi Kusama and others in the mid-six-figure range. Kukje Gallery reported sales of Ha Chong-hyun paintings in the $540,000 to $649,000 range, while White Cube, Thaddaeus Ropac and Pace moved works in the six-figure band.

 

Mid-tier galleries also performed well. Stephen Friedman Gallery sold out works by Caroline Walker and Clare Woods priced between £35,000 and £175,000, and Lehmann Maupin cleared its booth of Billy Childish paintings ranging from $50,000 to $100,000. Other sell-outs included Gagosian with Carol Bove sculptures. Institutional interest remained strong, with the Frieze Tate Fund acquiring works by Naminapu Maymuru-White, Eva Švankmajerová, Bani Abidi and Mohammed Z. Rahman. Additional acquisitions were made by the Arts Council Collection and the V&A, further underlining the fair’s appeal to public institutions.

 

Visitors also appreciated some of the playful highlights, such as inflatable penguins by Benedikte Bjerre and the live studio atmosphere brought by Billy Childish. More affordable prints and editions proved popular, giving collectors entry points at lower price levels. However, some dealers felt that enthusiasm did not always translate into firm commitments, with buyers showing interest but often hesitating to close deals. A number of notable galleries also opted out of London in favour of Paris, highlighting how the calendar is shifting.

 

All of this gave the sense that Frieze London is adjusting to a changing market. While headline sales still grabbed attention, there was a clear focus on accessibility and measured engagement rather than chasing blockbuster deals. The fair felt more open and welcoming, with space for new voices and mid-level works that resonated strongly with institutions and private buyers alike. It may not have carried the same level of high drama as in some previous years, but it reflected well a market that values stability and substance.

 

References:
October 24, 2024