Bloomberg this morning estimates that between the two Frieze fairs, Frieze and the new Frieze Masters, all the other fairs, the auctions and gallery shows, London this week features $1.5 billion worth of art.
Last year, the market looked a bit shakier and the single fair featured around $350 million in art. The auctions and Frieze Masters is definitely a factor here, but when you increase the amount by a factor of five, well, it’s safe to say the market isn’t so shaky anymore.
Correction: An earlier version of this story said the $1.5 billion figure came from the two Frieze fairs. It’s for everything.