For a long time, many refused to acknowledge the situation. However, the signs have been accumulating since the beginning of 2024: the global art industry is experiencing difficult times.

A clear indication of this was the Art Basel event last June, where sales fell significantly compared to previous years, as reported by finews.art.

Globally, transactions at auctions also dropped by nearly 30 percent in the first half of 2024. This trend continued over the summer, leading to a subdued atmosphere as Frieze Art opened its doors in London this week.

Galerie Sadie Coles HQ, Frieze London 2024 (Image: Linda Nylind, Courtesy Frieze)

In recent months, various emerging galleries, such as Parafin, Addis, Vitrine, and Sundy, have closed, according to the «Financial Times» (Article behind Paywall). Moreover, galleries specializing in contemporary art have experienced a significant decline in sales — even the largest auction houses have been more restrained in their sales events.

As if this wasn’t enough, the trendsetting Marlborough Gallery in London closed its doors at the end of June 2024 after eight decades of operation.

Proactive Measures Taken

One could argue that all these developments are consequences of Brexit. However, a significant portion of the world is currently in a geopolitically unsettling state, which inevitably impacts the art scene.

Against this backdrop, the organizers of Frieze Art Fairs (Frieze London and Frieze Masters) rightly decided to fundamentally rethink this year's fair, which runs from October 9 to 13, as reported by finews.art.

Modern Art, Frieze London 2024 (Image: Linda Nylind)

A visit to the exhibition halls in Regent's Park immediately reveals that this year's Frieze Art feels much more welcoming and open than in previous years; there are also significantly more seating and relaxation areas, which is very pleasant given the occasional oversupply of art and performances.

Many Premieres

Galery Esther Schipper (Image: Linda Nylind, Courtesy Frieze)

Many galleries seem more open and eager to connect with the audience; overall, the atmosphere feels much less elitist than before. This may be related to various initiatives making their debut this year. One such initiative is «Artist-to-Artist», where six artists have curated the works of a colleague.

Another project is the exhibition area «Smoke», curated by Pablo José Ramírez, from the Hammer Museum in Los Angeles, showcasing the interplay between ceramics and non-Western art.

Tribute to a Smoke Animal

«Smoke» pays tribute to «El Animal Humo» (the smoke animal), a story by Humberto Ak'abal about a mysterious creature being made of smoke that rises from the ground as an elevated and disturbing manifestation of nature.

The «Focus» section presents 34 solo and duo presentations of artists and galleries from five continents, including new spaces shaping the London cultural scene. Thus, Frieze Art positions itself as a determined innovator in the art world.

Casual Yer Moving

Among the young artists is René Matić. The London-based mixed-race artist, born in Peterborough (today «queer»/«they») draws on the heritage of Jamaican-British ska and skinhead subcultures to address themes of Blackness, British identity, and broader questions of identity. In 2021, their work was acquired by Tate during Frieze London and is now permanently displayed at Tate Britain following a major rehang in 2023.

At Frieze London 2024 their work is presented by Arcadia Missa. Matić often uses a simple 35mm camera they found discarded in an empty studio. The results can be delicate and intimate—moments that seem both casual and deeply imbued with meaning and memories.

Commitment from Deutsche Bank

For their recent project for Deutsche Bank’s London offices, Matić's guiding principles were «love, care and respect». The German financial institution is participating as the global partner for all Frieze Art fairs for the 21st time this year, which also occur in Los Angeles, New York, and Seoul throughout the year.

Artist-to-Artist, Nengi Omuku curated by Yinka Shonibare, Pippy Houldsworth Gallery (Image: Linda Nylind)

A recurring theme this year has been the concern that the upcoming Art Basel Paris (October 18-20, 2024) may overshadow Frieze London in the medium term. Such concerns have already been voiced in Basel.

In this context, the London fair is hosting a VIP dinner on the last exhibition day, Sunday, October 13, 2024, to nurture relationships with key collectors and opinion leaders, particularly from Asia. Notably, this year’s audience prominently featured a significant number of Asian clients.

Worries Directed Towards Paris

More relaxation areas (Image: Linda Nylind, Courtesy Frieze)

Recent discussions also center around the unrelenting rise in costs for many galleries, with inflation making its presence felt economically. This is putting significant pressure on mid-sized galleries, which are grappling high fixed costs while facing weakened demand.

Amidst this backdrop, this year’s Frieze has also witnessed a new trend towards partnerships, with galleries collaborating on events to provide art collectors and enthusiasts with a broader and more diverse offering from a single source.

With its new concept, Frieze London has undertaken an important mission this year: to cement London’s place on the global map of significant art exhibitions.