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Deep Frieze

Now in its third decade, London’s Frieze art fair occupies a different world than it once did, as New York and Paris have taken on greater importance for auctions. Now the major houses are rethinking what London is for.

Sotheby's Jean-Michel Basquiat
Sotheby’s dealmakers have been hard at work, too. Jean-Michel Basquiat’s 'Untitled (The Arm),' from 1982, is estimated at £4.5 million and also covered by an irrevocable bid. Photo: Tristan Fewings/Getty Images for Sothebys
Marion Maneker
October 14, 2025

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The Frieze art fair in London began two decades ago as a way to capitalize on the wave of interest in contemporary art generated by the Young British Artists movement and the growth of galleries in London. Since then, the fair, with its attendant auction exhibitions and museum and gallery shows, has evolved into something different—especially now, with the economic and geopolitical shifts in Britain and the United States. In short, the goals have changed.