International art fairs offer something for collectors and first-time buyers
The FNB Joburg Art Fair opens on Friday to the public at the Sandton Convention Centre. The 10th anniversary edition of the fair presents 60 exhibitions and galleries from 12 countries across Africa, Europe and the US. The featured artist is South Africanborn and Berlin-based Robin Rhode, who was the fair’s inaugural featured artist when it was launched in 2008.
The fair runs from September 8 to 10.
Over the past 10 years, the FNB Joburg Art Fair has grown steadily, more than doubling the number of participating galleries and substantially increasing the representation of exhibitors from outside SA.
The Cape Town Art Fair was launched in 2013. It is also going from strength to strength and shows that the local art market is healthy enough to sustain two reasonably sized fairs.
Over the past few years, the Turbine Art Fair, which presents artworks under R40,000, and a number of satellite fairs and fringe events have also developed, further demonstrating that the South African art market is on an upward curve and that the appetite for art fairs follows the same trend as the rest of the world.
The numbers are staggering. It has been estimated that there are well more than 200 art fairs globally. They have radically transformed the way galleries do business. While it is expensive to participate, galleries today do between 30%— 70% of their business at art fairs, making them not only attractive but a necessity.
Art Basel is often cited as the oldest fair. It was started in 1970 by three Basel gallerists, Ernst Beyeler, Trudi Bruckner and Balz Hilt, and was an instant success.
It attracted 16,000 visitors and featured 90 galleries representing 10 countries.
In 2002, Art Basel launched its inaugural show in Miami Beach, followed in 2013 by Hong Kong.
Today, it attracts about 250,000 visitors annually to the three events while Basel, Miami and Hong Kong each present between 250 and 300 galleries from more than 30 countries.
Similar mammoth fairs take place in London, Maastricht, New York and Paris every year.
Large fairs can be daunting and there are several boutique fairs offering more focused, less expensive experiences for exhibitors and visitors.
The vast majority are dedicated to contemporary art, but some specialise in the old masters or in modern art. Other art fairs focus on affordable art.
ART FAIRS ARE A CONVENIENT ONESTOP EXPERIENCE WHERE GALLERIES CONVENE TO SHOW A RANGE OF WORKS
Fairs have become a very practical platform to network, connect with clients and forge new relationships.
In terms of positioning, it is also becoming increasingly important to exhibit at prestigious fairs and build an impeccable fair pedigree.
For seasoned collectors and first-time buyers, fairs are great places to acquire art, learn and socialise.
According to Marc Spiegel, director of Art Basel, high net worth individuals who buy art don’t have the time to dedicate their weekends to visiting galleries and exhibitions.
Art fairs are a convenient one-stop experience where galleries convene to show a range of works and where collectors get a succinct overview of the latest developments in art.
For first-time buyers, fairs offer great opportunities to train the eye and develop knowledge and taste.
Art fairs are a great place for learning. Beside the visual stimulation, they offer an opportunity to approach knowledgeable gallery people to chat about the artists and works on show. As renowned US gallery owner David Maupin puts it, “the fairs give buyers a comfort zone to meet people from the gallery”.
A word of caution: because most sales are concluded on the preview and first day, it is advisable to wait until the last days to engage in conversations when gallery representatives are generally more relaxed.
Fairs have programmes of talks and panel discussions that are excellent opportunities to develop appreciation and knowledge of art. Every fair also has a VIP programme with special offerings such as visits to artists’ studios or prestigious art collections.
Networking is about developing relationship not only with dealers, but also with artists and like-minded art lovers. A fair’s catalogue is a useful tool to research artists and the galleries and find out about ancillary programmes.
Tickets to preview evenings cost more, but there are benefits to attending.
They are sociable events with a friendly atmosphere where face-to-face encounters and meetings with dealers, curators, artists and fellow art lovers can be readily made.
While they are convenient buying venues for collectors, fairs often require quick acquisition decisions. Works sell fast and dealers may only be able to reserve a work for a very short period of time, sometimes just an hour or so.
With prices in the six or seven digits, the pressure on buyers is obvious.
The success of fairs has an effect on the type of shows galleries put on and the selection of works. Because of the high costs of exhibiting and the need for a return on investment, galleries tend to favour group shows.
Fairs are not really the place to push boundaries and try new things, and smaller works that are easier to ship.
Because of their proliferation, art fairs have received their fair share of criticism.
But they remain indispensable to anyone who wishes to enter the fascinating world of collecting art, whether at entry or top level.