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Print fairs have long been a cornerstone of the art market, offering not only transactional opportunities but also vibrant cultural experiences and international networking. However, in recent years, major fairs have faced mounting pressures from escalating exhibitor costs, increased competition from regional hubs, and economic challenges exacerbated by Brexit and other tax and broader uncertainties.
One of the earliest indicators of this shift was the cancellation of Masterpiece London in 2023, following a turbulent few years marked by pandemic-related disruptions and declining international participation. Similarly, Frieze London faced significant challenges in 2023, with its presentation overshadowed by geopolitical tensions following the war in Gaza. While Frieze appeared to regain stability in 2024 with a refreshed outlook, its subsequent announcement of being up for sale cast doubts over its long-term sustainability. In contrast, Art Basel Paris remains the exception, showing relative stability and strong market engagement.
Looking ahead to 2025, with impending, and new, election policies in both the US and the UK adding further uncertainty – rising taxes in the US and lingering Brexit-related complications in the UK – major fairs are likely to remain under pressure. In response, we anticipate the rise and expansion of mid-tier fairs, similar to the London Art Fair and Woolwich Contemporary Print Fair. This expansion could come either in the form of entirely new fairs or regional extensions of existing successful models. These mid-tier platforms, with their more flexible structures and localised focus, are well-positioned to capture growth and engagement in these rapidly developing markets and with changing audience preferences and social media culture, we anticipate galleries and the fair structure prioritising immersive experiences to attract younger and tech-savvy audiences.
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