The art press hasn’t had much to say so far about The European Fine Art Fair (‘TEFAF’), running through this coming Sunday. The New York Times and the Antiques Trade Gazette have both characterized the mood amongst dealers as ‘optimistic’, and both cite the recent success of the YSL-Pierre Bergé sale as a hopeful sign. I hope prospective Maastricht buyers didn’t leave all their money in Paris.
What also seems to be apparent in press reports is that for the pieces that have sold- mostly artwork- prices paid, after heavy duty negotiation, were ‘reasonable’- read ‘significantly less than they would have been a few months ago.’ Another item of interest, several pieces purchased by dealers at the YSL sale have shown up in stands at Maastricht. Why on earth, in this trading environment, would a dealer choose to offer something only recently- and expensively and very publically- acquired? Perhaps the dealers who’ve done this need to get their money back. In such an environment, the relationship between dealers and clients is not unlike that of the maidens of the town and the invading army. Not meaning to be risqué, but let’s just imagine, with the dealers marking confidently marking up their YSL purchases for resale, who will come out on top.
Looking through the exhibitor list, the numbers of dealers offering period decorative material is down from last year, as it has been declining for a number of years, replaced with those selling 20th century furniture and art, including photography. Nothing wrong with this, of course, as the 21st century buyer is an eclectic buyer, and, in a 239 dealer show- the size of this year’s Maastricht- the booths need to be filled. However, the stated rationale for inclusion of so much more contemporary material is that Maastricht needs to hold its own against the contemporary art fair Art Basel. Unfortunately, the fair organizers may find, in their eagerness to fill up the fair’s show floor, that they’ve diluted the fair’s traditional focus- period material including antiquities- confusing punters thereby, with the longer term effect of reducing the number of fairgoers whose primary interest is period material. With the significant downturn in the contemporary art market and the increasing disinterest in midcentury modern decorative material, Maastricht has, it seems, jumped the gun. While a regional fair like the Merchandise Mart in Chicago or the Los Angeles Antiques Show might reasonably consider itself a survey venue and introduce therefore a certain amount of contemporary material, an international fair that brings in buyers from around the world that has an established reputation for a certain type of gear needs to consistently maintain its focus. With all that, the name of the game is carrying on in business and, with so many dealers- those that have survived- in near shellshock, fair organizers need to fill the booths to make it a show. This may not make long-term strategic sense, but lately none of us in the art and antiques trade has had the luxury of engaging in any other strategy than to determine how to pay this month’s rent.