With a wide range of art fairs in the UK from the traditional to the contemporary, is there sufficient demand to ensure their viability? Carolyn Burnett explores the marketplace for fine and contemporary art.
The UK annual art fair calendar is growing by the year. Ten years ago there were less than a handful of fairs, all of which took place in London: but in the past few years this number has risen sharply, in London and throughout the UK, with high-quality events now taking place in most major cities including Glasgow, Manchester and Bristol.
Traditional art fairs include the Grosvenor House Art and Antiques Fair and Olympia Fine Art and Antique Fair. The contemporary scene is represented by, among others, Art Futures, now in its 20th year, and the Frieze Art Fair. Frieze, the UK?s only international contemporary art fair, was launched in 2003 and attracted over 27,000 visitors. Other significant fairs include the Glasgow Art Fair, the Affordable Art Fairs, the Manchester Art Show and the recently
re-branded On the Wall, all catering for particular corners of the market.
Niche markets
But has the UK art fair market reached saturation point or can this number of different fairs survive the growing competition? The answer is probably yes, at the moment there is room for them all, but art fair organisers need to be very clear about their particular niche market and continue to meet the needs and demands of that particular audience. Otherwise they will go under very quickly.
There are many niches in the UK art market, from international and UK buyers collecting purely for investment purposes, to first-time entry-level buyers, making their first tentative steps, whose desire is simply to own an original piece of work for their home. All of these niche markets are well catered for across the UK: Olympia and Grosvenor satisfy the traditional market of buyers and collectors; Frieze and the London and Glasgow Art Fairs, the contemporary buyers and collectors. Meanwhile, the Affordable Art Fairs at which all art exhibited is priced at less than £2,500, and the Manchester Art Show which is open to both independent artists and galleries serve entry-level buyers and collectors. Research conducted by Vivid Interface at the last Manchester Art Show revealed that 99% of visitors said they would come again to the next show and over 54% said that they intended to buy art following the show.
Sales and exposure
So what drives the market? The art market in its simplest form is essentially the same as all other markets and is driven by sales. Sales are generated at all levels in the market, but entry-level sales are always significant. With the current fashion for interior design in the UK, the entry-level market for first-time art buyers is increasing rapidly. Peter Saville was recently quoted as saying ?art is the new gardening? and judging by the recent introduction of Warhol and Lichtenstein prints at their new Lifestore in Gateshead, Marks & Spencer would agree. The fashion for art, and the consequent activity at the lower end of the market, can only be good for the whole art market, including art fairs.
Art fairs generate sales both during and, more importantly, after the event. Most seasoned exhibitors are happy to cover their costs for exhibiting at an art fair in the knowledge that the exposure they gain will far outstrip any amount they could hope to generate on their own. New client lists are built up, media and television coverage is achieved, commissions gained and new industry contacts made. So for those willing to take the plunge, exhibiting at the right kind of art fair can be an extremely profitable exercise.
Planning a fair
Planning a major art fair takes both time and resources. Venue, marketing and exhibition stand expenses can push overall cost into tens of thousands of pounds. The venue needs very careful consideration and needs to be accessible. To ensure the fair maintains the level and feel of a gallery, professional hanging boards and good lighting are essential, which again add significantly to the overall budget.
To ensure, therefore, that the exhibitors are not priced out of the market, most fair organisers look to supplement their budget with sponsorship and commercial partnerships. Although these can take some time to establish and develop, they form an essential element for the art fair and are often what ensures the fair is commercially viable. And by surviving and flourishing, these fairs develop and fuel the UK?s vibrant visual art market.
Carolyn Burnett is Director of Engaging Arts, organisers of the Manchester Art Show which takes place at the Manchester International Convention Centre from October 28?31.
t: 0161 928 7353;
e: carolyn.burnett@engagingarts.co.uk;
w: http://www.manchesterartshow.co.uk