SEOUL – Amid concerns about a volatile art market in the West, Frieze Seoul has emerged as a significant indicator of stability and growth within Asia’s art scene. The fair, which opened this week, offered a crucial snapshot of the region’s market dynamics.
A standout feature of this year’s Frieze Seoul was the willingness of many dealers to embrace risk. While traditional booths showcasing paintings were prevalent, several exhibitors opted to present sculptures, installations, and video art—mediums that can be less predictable in terms of sales. Despite this diversity, it is notable that few artworks surpassed the $500,000 mark, and several galleries chose not to disclose sale prices.
One highlight of the event was the sale of a $2.5 million Nicolas Party painting, underscoring the strong presence of high-value transactions and signaling a robust and evolving market in Asia.
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