In May, New York becomes a major hub for the art world, featuring various fairs and auctions, centered around the Frieze New York fair. Despite a 12% global decline in art sales in 2024, optimism remains as Frieze's US fair director, Christine Messineo, highlights past successes in Los Angeles. With around 65 key galleries represented at the fair, tensions regarding market stability persist, particularly under changing economic conditions and ownership transitions in the art fair landscape, but Frieze maintains its unique positioning amidst others like The Armory Show.
"There was quite a bit of momentum and success in Los Angeles. We had strong institutional sales," Messineo told The Art Newspaper before the New York fair kicked off.
"Despite some early speculation that Frieze would fold the two New York fairs into one event after the 2023 acquisition, they appear to purposefully occupy different spaces in the art market."
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