FRIEZE SEOUL 2024 HIGHLIGHTED DIFFERENCES BETWEEN ASIAN AND WESTERN GALLERIES AND COLLECTORS

Frieze Seoul 2024 took place last week between 4-7th September, bringing together 117 galleries from 32 countries, alongside Kiaf, a local fair with around 200 dealers. Art Works Group's Cassi Young, Global Fine Art Director, and Amber Shaw, Head of Business Intelligence, attended with a strategic focus on understanding the South Korean market. Cassi examined contemporary art trends and opportunities, while Amber gathered insights into collector behaviour and pricing trends. Their goal was to deepen Art Works Group’s connections within the Korean art scene and provide fresh investment opportunities for their clients.

Key highlights from the event included a significant focus on both emerging and established Korean artists, reflecting the growing international interest in South Korean culture. The fair also showcased a variety of mediums, from sculptures to textiles, offering more immersive experiences for collectors. Additionally, galleries adopted a cautious pricing strategy, with lower price points than other global fairs, presenting accessible opportunities for acquiring high-quality works, particularly from emerging artists.

For Art Works Group, Frieze Seoul underscored the importance of building long-term relationships in the Asian market. The fair’s extended VIP hours allowed for deeper engagement between collectors and galleries, crucial for navigating the local art landscape. These insights will guide Art Works in continuing to expand its global footprint and identifying new opportunities for its clients.

 

CHRISTIE'S CEO HIGHLIGHTS EUROPE'S CHALLENGE TO REMAIN A GLOBAL ART MARKET HUB AMIDST INDUSTRY CHANGES

In a speech at the Art Business Conference, Christie's CEO Guillaume Cerutti highlighted Europe's declining influence in the global art market. While sales in the Americas and Asia Pacific grew, Europe saw a 6% decrease from 2010-2023. Despite challenges, Cerutti emphasised the need for collaboration between the commercial and museum sectors to keep Europe relevant. The market remains robust, with highlights like Jeff Koons' Balloon Monkey (Blue) leading upcoming sales in London, although concerns linger over potential tax-driven exits by wealthy donors under the UK's Labour government.

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ARMORY SHOW 2024: POSITIVE SALES AND DEALER OPTIMISM DESPITE MARKET CONCERNS

The 2024 Armory Show, held from September 6–8 in New York, concluded on a positive note, marking its 30th edition and first year fully integrated into the Frieze network. Dealers and collectors showed optimism, reporting strong sales across a range of price points. Notable sales included pieces by Yayoi Kusama, Robert Motherwell, and Lynne Drexler, with sales reaching up to $825,000. Exhibitors were encouraged by steady interest and positive buyer engagement, suggesting a strong start to the US art fair season.

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EVELYN LIN LEAVES CHRISTIE'S HONG KONG TO JOIN PACE GALLERY AS PRESIDENT FOR GREATER CHINA

Evelyn Lin, the co-head of Asian 20th century and contemporary art at Christie's Hong Kong, is joining Pace Gallery as president for Greater China. After 26 years in the auction world, Lin plans to focus on fostering new talent and markets within a gallery setting, starting October 1. Her move coincides with significant shifts in Hong Kong's art scene as major auction houses expand their presence amid a global market downturn. Lin will help Pace Gallery grow its Chinese art programme and seek new gallery spaces in Hong Kong.

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GEORGIA O’KEEFFE’S NEW YORK PAINTINGS REVISITED IN REVELATORY EXHIBITION

A new exhibition at the Art Institute of Chicago sheds light on Georgia O'Keeffe's lesser-known New York skyscraper paintings, emphasising their significance in her oeuvre. Starting in 1925, O'Keeffe's cityscapes captured a modern, evolving New York with towering, monolithic structures. Though her husband, Alfred Stieglitz, pushed her to focus on landscapes, these city paintings are now being recognised for their importance. The exhibition, “Georgia O’Keeffe: ‘My New Yorks,’” draws connections between her urban scenes and famous flower paintings, suggesting that both themes are integral to her development as an artist. With the show soon traveling to Atlanta, the exhibition reveals the lasting influence of her skyscraper pieces on her artistic legacy.

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