Admin I Friday, November 08, 2024
COLOGNE – The Art Cologne art fair kicked off on Thursday, with around 170 galleries offering artworks for sale in the western German city in the coming days, including works by Andy Warhol, Gerhard Richter and Gustav Klimt – but also lesser-known names.
The number of exhibitors is roughly the same as last year, the organizers said on Thursday, but there has been an increase in the “new markets” section, which features galleries that are no more than 13 years old.
“The demand from young galleries has risen enormously,” said the art fair’s director, Daniel Hug. Hug painted a relatively stable outlook for the art market and the fair, despite many political uncertainties in the world, such as the re-election of Donald Trump in the United States.
He explained that “the presidential election will have little effect.” Wealthy Americans, he added, would pay less tax in the long term under Trump and would therefore “naturally have more money” to invest in art.
“There are always crises. Unfortunately, there is always war,” Hug said. He said he could not make any predictions about the war in Ukraine, but he did not believe it currently had a direct impact on Art Cologne.
In contrast, Anke Schmidt from the German Association of Galleries and Art Dealers (BVDG) emphasized at the opening that there was a certain level of uncertainty.
“Instigated trade wars will have an impact on us, as will the erosion of rights and the language of malice,” she said.
Those looking to snap up the highlights of the fair should be financially well-prepared: The prices being asked reach into the millions.
Art Cologne is the oldest art fair in the world and is considered the largest art fair in Germany. It evolved from the Kölner Kunstmarkt (Cologne Art Market) founded in 1967. Works of classical modernism, the post-war period and contemporary art are bought and sold at the fair.
The organizers say around 45,000 visitors attended last year.
