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London art bonanza looks to past to bolster future

Published on Oct 9, 2012 9:55 PM
 
Visitors look at Jackson Pollack's Number 4 from 1951 which has an estimated value of US$25 - $35 million (S$29.5 - 43 million) at Sotheby's London on Oct 8, 2012. Sotheby's said 30 per cent of buyers at its old master drawing sales had also bought art at its contemporary auctions, compared with seven percent in 2007. It is no coincidence that it is displaying Raphael's 1519 Head Of An Apostle, which is worth up to US$24 million, alongside Jackson Pollock, Francis Bacon and Gerhard Richter at its London headquarters this week. -- PHOTO: REUTERS

LONDON (REUTERS) - The most surprising thing about this year's Frieze art week, which puts London at the cutting edge of the contemporary art world every October, is that there is so much old art around.

The annual Frieze Art Fair will go ahead as usual in a giant marquee in Regent's Park, a grid of 175 galleries teeming with potential buyers and thousands of contemporary art lovers keen to keep up with the latest trends in a fast-moving world.

And there are the spin-off events across the capital designed to lure the world's wealthiest buyers - auctions, rival fairs, parties, gallery openings, exhibitions and discreet viewings far from the hullabaloo.

But unlike previous editions, the Oct 11-14 fair this year comes with a separate Frieze Masters event featuring 96 galleries offering works from across the last 4,000 years.

 
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