Written by Jonathan Massey, Fine Art Contributor
Last week London became the epicentre of the international Art Market when the Frieze Art Fairs took place in Regents Park. Frieze, for artists of the late 20th & 21st centuries, and Frieze Masters which featured a selection of the best Contemporary & Modern Art, Old Masters and Antiquities from the world’s leading galleries and art dealers.
Over recent months there has been a lot of negativity surrounding the UK art market, driven by Brexit, non-dom tax implications, and increasing international competition. However, talking to dealers, art advisors, and clients last week, I was delighted to find that the UK market is buoyant and positive. The Frieze fairs, as well as the 1:54 African Art Fair at Somerset House, attracted a global audience of clients, influencers, gallerists and art professionals to London. The place was buzzing!
Art Fairs can be intimidating, most galleries do not display prices on their works and it can feel awkward to ask, but most gallerists are approachable and generous with their time, they are eager to share their knowledge. Although prices on some works are high, there were many quality works under £5,000, particularly from younger, less established galleries, and all works are vetted by the Frieze committee for quality and authenticity
Here are four works from Frieze and Frieze Masters that caught my eye.
1. Peter Lanyon. Sea Going. Lanyon is a giant of British post-Second World War art, a key member of the St Ives school, influenced by the American abstract expressionist movement. He knew Mark Rothko and spent time in New York. This painting sold at auction last year for £300,000, which in my opinion is undervalued for a Lanyon of this quality. It would have been on sale at Frieze for over £500,000.
2. Paddy Bedford, Mud Springs 2002 Gija. Yoowangeny. Natural earth pigments on linen. Bedford was a contemporary indigenous Australian painter, who created his first paintings when he was over seventy years old. This beautiful painting is influenced by his upbringing and background, he grew up in Western Australia; however to me it has a timeless and global quality to it. It was on sale for $180,000.
3. Greta Schodl. Untitled, c 1980. oil and gold leaf on canvas. Schodl is a visual poet who was born in Austria and moved to Italy in 1959. 95 yrs old, she still paints and featured at the 2024 Venice Biennale earlier this year. This painting, one of a series that she created in 1980, was on sale for £5,000. It is astonishing that a work of this quality and provenance can be bought for such a low price.
4.Olafur Eliasson. Disembodied Surprise, 2020. Watercolour and pencil on paper. One of my favourite artists, Eliasson is of Icelandic/Danish origin and works between Berlin and Reykjavik. His work explores the significance of art in the global context, often focusing on science, maths and the natural world and is very often monumental in scale. This small work was for sale c. 25,000 euros.
Across town in Somerset House, was arguably the most vibrant and approachable fair of the week. The 1:54 African Art fair is devoted to artists from Africa and its diaspora. Here, prices tend to be lower but the art on display is always fresh, vibrant and exciting. The vibe too is always extremely friendly.
Here are a couple of works that caught my eye.
Atta Kwami. Die Hard. 1999. Kwami was a painter, printmaker and academic, who was born in Ghana but lived and worked both in Ghana and the UK. This early work, painted in 1999, was for me the most beautiful piece that I saw in the whole of last week. It was for sale for around £30,000.
Abe Odedina. My final pick is as much about the artist as the work. Abe Odedina is of Nigerian origin and he divides his time between London, Nigeria and Salvador di Bahia, Brazil. My photograph shows Abe standing next to his work ‘Ladder of Dreams’ from 2023. In his work he uses life experience relating to his upbringing and environments to create mystical, almost surreal paintings. He is a unique talent and a larger than life character.
After spending four days at the fairs, it was encouraging to see that the London market is holding up well, energy and enthusiasm is still evident, and sales (several galleries announced that they had sold out) were strong. At a time when the market generally has experienced a global levelling out, driven by economic and geo political pressures, London more than holds its position as one of the global art market centres.
Jonathan Massey, formerly of Sotheby’s and Gurr Johns, is an independent arts advisor offering candid and impartial advice to aspiring and established collectors on all aspects of the art market. Contact him for an informal consultation. https://jonathanmassey.co.uk/ @masseyjcm
