Written by Jonathan Massey, Fine Art Contributor
Last week, London became the epicentre of the international art market as the Frieze Art Fairs took over Regent’s Park. Frieze, focusing on late 20th and 21st century artists, ran alongside Frieze Masters, which showcased a curated selection of the finest Contemporary and Modern Art, Old Masters, and Antiquities from the world’s leading galleries and art dealers.
In recent months, there’s been considerable pessimism surrounding the UK art market, driven by Brexit, non-domicile tax concerns, and rising international competition. However, after speaking with dealers, art advisors, and clients last week, I was delighted to find that the UK market is buoyant and positive. Both the Frieze fairs and the 1:54 African Art Fair at Somerset House attracted a global audience of collectors, influencers, gallerists, and art professionals. The place was buzzing!
While art fairs can seem intimidating with many galleries not displaying prices, it can feel awkward to inquire. But, most gallerists are approachable and generous with their time and eager to share their knowledge. Although some works come with high price tags, there were many exceptional pieces available for under £5,000, particularly from younger emerging galleries. Importantly, all works at Frieze are vetted by the fair’s committee for quality and authenticity.
Here are four standout pieces from Frieze and Frieze Masters that caught my eye.
‘Sea Going’ by Peter Lanyon, 1961
Lanyon is a giant in British post-World War II art and a central member of the St Ives school, whose work reflects the influence of American Abstract Expressionism. Last year, this particular painting sold at auction for £300,000 – a price I believe undervalues a Lanyon of such caliber. Had it been available at Frieze, it would likely have commanded over £500,000.
‘Mud Springs’ by Paddy Bedford, 2002 Gija. Yoowangeny.
Bedford, a contemporary Indigenous Australian artist, began his painting career later in life, creating his first works at the remarkable age of over seventy. This stunning piece reflects the deep influence of his upbringing in Western Australia, yet, to me, it possesses a timeless, universal quality. It was offered for sale at over £130,000.
Untitled by Greta Schodl, 1980 oil and gold leaf on canvas.
Schodl, a visual poet born in Austria, relocated to Italy in 1959. At 95 years old, she continues to paint and was featured at the 2024 Venice Biennale earlier this year. This piece, part of a series she created in 1980, was available for £5,000 – a truly astonishing price for a work of such exceptional quality and provenance.
‘Disembodied Surprise’ by Olafur Eliasson, 2020 Watercolour and pencil on paper.
One of my favorite artists, Eliasson, is of Icelandic-Danish origin and splits his time between Berlin and Reykjavik. His work explores the significance of art within a global context, often focussing on themes of science, mathematics, and the natural world. While his projects are frequently monumental in scale, this smaller piece was offered for around £20,000.
Across town at Somerset House, the 1:54 African Art Fair stood out as arguably the most vibrant and welcoming event of the week. Dedicated to artists from Africa and its diaspora, the fair showcases art that is consistently fresh, dynamic, and exciting, often at more accessible price points. The vibe is always extremely friendly too.
Here are a couple of works that caught my eye.
‘Die Hard’ by Atta Kwami, 1999
Kwami, a talented painter, printmaker and academic, was born in Ghana and divided his time working between Ghana and the UK. This early work from 1999 was for me the most beautiful piece I encountered all last week. It was on sale for around £30,000.
‘Ladder of Dreams’ by Abe Obedina, 2023
My final pick is as much about the artist as it is the work itself. Abe Odedina, of Nigerian origin, splits his time between London, Nigeria, and Salvador da Bahia, Brazil. In my photograph, Abe stands beside his 2023 piece ‘Ladder of Dreams’. Drawing from his life experiences, shaped by his upbringing and diverse environments, Odedina creates mystical, almost surreal paintings. He is an extraordinary talent and a larger-than-life character.
After spending four days at the fairs, it was encouraging to see that the London art market is holding up well. The energy and enthusiasm are still evident, and sales (several galleries announced that they had sold out) were strong. Despite a global market slowdown, influenced by economic and geopolitical pressures, London continues to hold its own as a key centre in the global art world.
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
