BREXIT UNCERTAINTY STIMULATES PARISIAN ART MARKET

It seems that the Paris art scene is massively benefiting from the Brexit uncertainty, as more galleries are popping up all over the French capital. As of writing, Paris is hosting the FIAC art fair.

The probable reason for this art boom in France is due to the expense of transporting artworks between Britain and mainland Europe, making it more expensive as a result of Brexit doubts, thus favouring Les Paris.

FIAC is one of Europe’s biggest contemporary art showcases, and in 2019 it displayed works in pretty locations around the beautiful Tuileries Gardens and the Grand Palais. The perfect setting for any art sale. Thus, it seemed to benefit London based art galleries to have a European outpost as well. This situation is ongoing.

Prime minister Boris Johnson has sworn that Britain will leave the EU whether or not parliament votes for any new deal or not. But doubts in international markets prevail.

While gallery owners agree that London will remain the top European art-market because of its attractiveness to art investors, Paris has continued to grab its share of worldwide sales. An example of this is the FIAC 2018 fair which saw a Philip Guston painting, “Martyr”, sold for $6 million.

Pass me a French canvas, anyone will do!

Visit the FIAC website 'Foire Internationale d’Art Contemporain (International Contemporary Art Fair)' at: https://www.fiac.com/en/visitor-information/