A tale of two art fairs: Frieze and Art Basel battle for supremacy

Frieze is a highlight of the art world’s autumn season, where the rich traipse through carefully lit booths showcasing some of the world’s most expensive modern and contemporary art. But it’s no longer the only highlight.

Next Wednesday, Art Basel opens its own rival fair in Paris, which it launched in 2022. Both companies have been engaged in fierce competition for a larger share of the global art market, which, despite a recent downturn, is still estimated at $57.5bn a year.

In some ways, Frieze and Art Basel are a study in contrasts. Art Basel began in 1971 in buttoned-up Switzerland, where it still holds its flagship fair every June, and acquired a reputation for attracting a more sober, conservative collector base. Frieze, on the other hand, was a quirky upstart when it was launched in 2003 – the art market’s response to Cool Britannia – and distinguished by its programme of public talks and DIY performances. It takes place in a custom tent in a public park, a far cry from Art Basel Paris, which will unfold beneath the glass dome and emerald trusses of the Grand Palais.

But in recent years, the businesses have grown more alike. Both are at least part-owned by private equity: in 2020, Art Basel’s parent company, MCH Group, was acquired by Lupa Systems, the investment firm owned by James Murdoch, while Frieze was bought earlier this year by Mari, a company owned by former Hollywood talent mogul Ari Emanuel. They have expanded to new markets – Art Basel to Miami, Hong Kong and Paris, Frieze to New York, Los Angeles and Seoul – while cutting back performance and lecture programmes. On Friday, Frieze announced that it would open an edition in Abu Dhabi in November 2026, while Art Basel will open its first fair in Doha in February.

The fairs compete to lure the world’s top art galleries into spending upwards of £50,000 a booth to present their wares. The success of either event comes down to the whims of collectors – and many, particularly from the US and Asia, say they prefer to visit Paris.

“Paris is more enjoyable for me because I feel more relaxed with less pressure and expectations,” said Alexander Petalas, a London-based collector and owner of The Perimeter gallery. “Also, for the last couple of years, galleries seem to be taking better work to Paris and I get to see some of my American friends who usually choose Paris over London.”

“The Grand Palais is an amazing place to display work,” said Joe Sheftel, an art adviser based in New York. This can affect the kind of art that galleries choose to bring – and in turn, collectors’ eagerness to buy. But, he says, the main consideration may be practical: two back-to-back art fairs – not to mention the dinners, parties, and exhibition openings that accompany them – can strain schedules and energy levels. Brexit is also a factor, as it has made shipping out of the UK more logistically difficult and expensive.

“Frieze is a great fair, and the museum exhibitions are wonderful in London, but the practicalities of being away and living in hotels for two weeks while running a business in New York is a real challenge,” Sheftel added.

According to Art Basel chief executive Noah Horowitz, since the pandemic, art fairs have become more regional in terms of the visitors they attract – Asian collectors flock to Hong Kong, while Miami attracts higher footfall from North America – but “Paris is the exception to that rule. It’s a much more global fair,” he said. “The interest that it has galvanised from the US market is extraordinary.” During last year’s edition of Art Basel, American vowels were audible up and down the Champs d’Elysee.

New private art foundations such as Bourse de Commerce and Fondation Louis Vuitton have begun to give London’s world-class museums a run for their money – but it may be enough for Art Basel if collectors in the market for a pricey painting prefer a suite at the Hôtel Plaza Athénée or a Michelin-star coq au vin.

But just because a collector prefers to visit Paris, it doesn’t mean they’ll spend their time at Art Basel. “In some ways, as an adviser, Paris can be a distraction,” Sheftel said, citing the draws of luxury design and fashion beyond the fair.

Art Basel is leaning into those distractions. Its programme includes a collaboration between the Turner prize-winning artist Helen Marten and Miu Miu, as well as public sculpture in Place Vendôme, steps away from flagship fashion stores.

Plenty of collectors remain loyal to Frieze, but some are choosing to sit out today’s preview so they can spend just a couple of days in London before heading across the Channel. The weekend’s marquee event, the inaugural British Museum Ball, has attracted an A-list crowd of art-world donors with its pitch to match the elegant excess of New York’s annual Met Gala – and may give Frieze the boost it needs.

One recent decision suggests Frieze may be trying to compete by returning to its roots. Last year, it moved smaller, younger galleries – which sell art at lower price points and pay a heavily discounted exhibitor fee – to the front of the fair, where they can benefit from higher collector traffic. The fair is maintaining the new layout this year. It’s a sign that Frieze remains committed to London’s vibrant community of small galleries and young artists, according to Simon Fox, the company’s chief executive.

“I think Frieze has always foregrounded young and emerging artists in a more serious way than Basel,” he said.

Frieze isn’t concerned about waning collector interest, he said. The fair has recorded a 10% increase in visitors from the US, year on year. Sales were strong across its more than 200 galleries last year, including several individual works valued at more than £4m. The UK is still the world’s second largest art market, after the US – with an 18% share of the global total, to France’s 7% – and fears that London’s premiere art fair may lose its command over that market appear overblown, at least for now.

“If we learned anything from last year, it’s that it is London and Paris,” said Fox. “I compare it to the Barbie-Oppenheimer weekend for the art market – when you have two blockbusters simultaneously. I think that’s a really good thing.”

Evan Moffitt worked in an editorial capacity at Frieze magazine US between 2015 and 2021.

Photographs by Dave Benett/Getty Images and Art Basel. Artworks reproduced courtesy of Alex Da Corte/ Fridericianum, Henry Nicholls/AFP/Getty