Bills, Bills, Bills: Paris Art Week and the Cost Versus Reward of Art Shows

By Ian Ziegler

Art Basel, Frieze, Expo Chicago, Paris Internationale, and Asia Now — these are just a few among the hundreds of art fairs held across the globe each year. Galleries, collectors, artists, and patrons now find their calendars packed with fairs of every scale and speciality, spanning different themes, price points, levels of exclusivity, and purposes. In 2019, there were over 400 art fairs worldwide; this year, the number is expected to be even higher. One of the largest, Paris Art Week – with Art Basel Paris being its main attraction – is now packaging up all the art, soon to be shipped off to the countless buyers. Art Basel Paris saw over 73,000 guests walk through the doors of the Grand Palais for a four-day weekend of purchases reaching up to $23 million (£17 million). With such an overwhelming abundance — and such enormous costs — it begs the question: why? Why are there so many fairs? Why are they so expensive? And why do galleries continue to invest vast sums multiple times a year?

Art Basel Paris

Image Courtesy of Art Basel

To answer the first question, the proliferation of art fairs reflects the rapid expansion of the art market, especially after the COVID-19 pandemic. A new generation of buyers has emerged, and galleries are eager to reach this evolving client base. While not every event operates on the scale of Art Basel, smaller fairs provide opportunities for emerging collectors and artists to enter the market. Yet participation is far from cheap — at The Armoury Show, for instance, booth prices start around £25,000 and can reach £100,000. At the Frieze London Fair, which concluded two weeks ago, the cost for a small booth in the separate tent began at £20,000. The prices each year rise, and will continue to do so, and the galleries will continue to pay the bill.

Still, galleries pay these fees for one key reason: FOMO — fear of missing out. The art market thrives on access and visibility, and no gallerist wants to risk missing a potential client or a multimillion-pound sale. A single transaction could easily justify the expense, so they take the gamble.

The Armory Show

Image Courtesy of Rebecca Smeyne for the New York Times

What do galleries actually receive for these prices? Beyond a few white walls and a booth, the value lies in exposure — access to high-net-worth collectors, curators, and global media attention. Transportation, installation, staffing, and travel costs are additional burdens. Yet fairs offer what few other venues can: a concentrated space for networking, relationship-building, and discovery.

However, the saturation of fairs has led to what some call ‘fair fatigue.’ Seasoned dealers and collectors, faced with nonstop schedules and escalating costs, are beginning to question the model’s sustainability. Even major players like David Zwirner — whose booths can generate multimillion-dollar sales, including one reported at $20 million (£15 million) — must carefully weigh the risks and rewards of participation.

Despite these challenges, art fairs are unlikely to disappear anytime soon. Instead, they are evolving. Fairs democratize art buying by giving smaller artists and galleries a global stage and providing collectors with direct access beyond auction houses and private dealers. The abundance of fairs mirrors the abundance of audiences — and as the art market continues to shift, so too will the way we buy, sell, and experience art. For now, the art fair remains a cornerstone of the contemporary art world, at once exhausting and essential.

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