Art fair (Art Basel, Frieze, TEFAF)

What is an art fair?

A fair is a show at which galleries sell their artists' works directly from their stands (unlike a biennial, then, you come here to buy as well). Gallerists, collectors, curators and curious visitors from all over the world come together for it. It is something of a social occasion and a commercial centre of art in one.

Which fairs are the most important?

The flagship is Art Basel, held in Basel, Hong Kong, Miami and Paris. Its great counterparts are Frieze and TEFAF. Around the largest of them, so-called satellite fairs also grow up (Liste and Volta, for example), giving space to younger galleries and emerging artists.

How does a fair differ from an auction and from a biennial?

At a fair, galleries sell at a fixed price that you agree directly at the stand, whereas at an auction bidders compete for a work and the price is made by the contest between them. A biennial, by contrast, is more of a large survey exhibition, which you attend for the experience and to get your bearings on the scene, not primarily to buy. Put simply: a fair is a shop, an auction is a sale by bidding, and a biennial is a festival of exhibiting.

Why are fairs important for the art market?

In one place, over a few days, supply and demand from all over the world meet, so a fair works as a barometer of what currently interests the scene. Galleries build relationships with collectors here, and young artists get a chance to show themselves thanks to the satellite fairs. It is no accident that a large share of galleries' annual turnover revolves around fairs.

Can you give an example?

Say art fair and most people in the art world will think of Art Basel in Basel, around which the whole trade gathers every year. Add to it Frieze in London and New York, and the Dutch TEFAF, famed for older art and antiques. And if you are drawn to finding new names, head for the satellites such as Liste.

— Anna Pulkertová, founder of Art Part Club