Newsletter October 2014: Market ReportOctober 7, 2014
October is a busy time in London’s art world calendar. Undoubtedly the main events are the two Frieze fairs, which take place in Regents Park between the 15th and 19th October. Frieze Art Fair is London’s leading contemporary fair and this year features over 160 contemporary galleries, whereas its sister fair, Frieze Masters, showcases works created before the year 2000, ranging from Old Masters to late 20th century pieces. The Pavilion of Art and Design (PAD) in Berkeley Square runs at the same time, and although a very elegant fair, its focus is no longer on fine art, having reverted to its original emphasis on the decorative arts. Beyond the fairs, “Frieze week” coincides with the contemporary auctions in London, with much of the attention this season focusing on The Essl Collection of German post-war art, which is being offered at Christie’s. We expect this 44 lot, single-owner sale, with a combined pre-sale estimate of £40-60 million, to perform well and we wouldn’t be surprised to witness a significant recalibration of the market for artists such as Georg Baselitz and Sigmar Polke. Looking ahead into November, the focus switches to New York, where the major Impressionist and Contemporary sales will take place. But for now it is London that plays host to the international art world and we look forward to an exciting month ahead!