This week's art news: Frieze LA + art funds
Debriefing Frieze LA 2025 and talking about Art Fund trends
Happy Monday!
Today’s art news curation will be dedicated to debriefing Frieze LA and a little Art Funds talk.
Frieze LA
The last time I got to attend Frieze LA was three years ago, and even though the fair itself was significantly smaller than Frieze London or NY and presentations were kind of repetitive, I still enjoyed the overall Frieze Week LA experience - who wouldn’t when it’s 5 degrees and raining in London. Anyhow, let’s dive into this year’s edition.
⭐This year there was a lot of controversy surrounding Frieze Los Angeles going ahead despite devastating wildfires in the city. Some critics argue that hosting a luxury art fair amid an environmental crisis feels tone-deaf, raising concerns about the ethics of holding such events during a disaster. Others, particularly in the LA art community, argue that the fair is an important symbol of resilience and a boost to the local economy, with many needing to recover from the destruction.
⭐Many dealers expressed relief and excitement about the event's success, particularly after initial anxieties about attendance. Sales were robust, with major galleries like David Zwirner and Pace seeing transactions over $1 million.
⭐Several galleries sold out their booths, including Mariane Ibrahim, David Kordansky, and Hauser & Wirth. Notable sales included works by artists such as Ambera Wellman, Eamon Ore-Giron, and Robert Indiana.
⭐Frieze also incorporated initiatives supporting fire relief, with funds raised through the fair's partnerships and gallery donations to aid the LA arts community.
⭐The fair’s overall atmosphere was one of resilience and healing, with many seeing the event as an essential part of LA’s recovery process after the wildfires.
(sources artnews , The Art Newspaper)
💰For those interested in exact figures and names here is what sold at Frieze LA .
🤍Favourite piece I spotted from afar (read social media):
Art funds
There has also been a lot of controversy around art being an asset class. Last summer, I did research on this as a part of a project I was working on, and the evidence supported the growing trend of art as an asset class for investment, particularly focusing on the increasing interest among wealth managers and investors. Later that year, I read an article in the Art Newspaper that argued against it.
Here are some facts from a recent FT article that I find interesting
⭐90% of art and finance stakeholders believe art and collectibles should be part of an investment portfolio, a significant rise from 53% in 2014.
⭐Companies like the Swedish-based art fund Arte Collectum, which raised €20 million in 2022, aim to buy undervalued works, particularly from marginalized artists, with the goal of widening access to the art market. Arte Collectum's strategy includes targeting works by female artists and artists of colour, many of whom have been historically undervalued. The fund's approach is modeled after traditional private equity businesses, with long-term investment horizons and performance-based fees.
⭐Other art investment companies, such as Masterworks, also allow investors to purchase shares in individual works of art.
⭐The art's low correlation with stock markets makes it an appealing alternative investment. Though the art market’s volatility means it’s not a guaranteed path to profit, it’s seen as a potential hedge against traditional investments.
🤍 My take on this topic remain the same - I don’t believe there is such a thing as art ‘loosing value’ if the value doesn’t go up it at least remains the same - that’s why you should always buy or invest into art that you love and believe in.