"Simon Fox told the Guardian that the fair, which opens on Wednesday, can benefit from having strong competition on its doorstep and replicate the mutual success of Barbie and Oppenheimer at the box office in 2023. He said: It's very convenient for collectors who can come to London, spend a weekend here and then go on to Paris. It makes for a Barbenheimer moment."
"The Frieze chief executive did acknowledge severe headwinds hitting the market, such as the insecurity and instability caused by Donald Trump's tariffs and the conflicts in Ukraine and Palestine. That challenging environment has hit some of the art market's big names: this week Hauser & Wirth reported a 90% drop in profits. The global art market shrank by 12% in 2024, according to the annual Art Basel and UBS report."
Frieze London emphasizes complementarity with Art Basel Paris, promoting a 'Barbenheimer' collector weekend where visitors can attend both fairs. Simon Fox suggested strong local competition benefits collectors and can replicate the box-office synergy of Barbie and Oppenheimer. Art Basel Paris has grown since 2022 and major exhibitions such as the Gerhard Richter show at the Fondation Louis Vuitton open during Frieze. Some galleries are prioritizing Paris over London, and at least one gallerist described Paris as 'parking its tanks on the lawn.' The market faces severe headwinds from tariffs and geopolitical conflicts, with major firms reporting steep profit declines and a 12% global market shrinkage in 2024.
Read at www.theguardian.com
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