Frieze Seoul 2023: Solid Sales Despite Market Slowdown

The second edition of Frieze Seoul, held at COEX from September 6, 2023, saw more modest but steady sales compared to its inaugural 2022 edition. International and Italian galleries reported numerous solid transactions in the $20,000–$150,000 range. Italian gallery Mazzoleni noted growing interest in post-war Italian art, selling works by Bonalumi (Bianco, 1975, $70,000–$90,000), Nunzio ($90,000–$150,000), and Salvo. Massimo De Carlo sold pieces by Yeesookyung, Aaron Garber-Maikovska, Alvaro Barrington, and Ludovic Nkoth ($20,000–$140,000). R+V gallery sold a Kandinsky and other works, citing an influx of new collectors. Mega-galleries performed well: Hauser & Wirth sold 13 works including Rashid Johnson ($975,000), George Condo ($800,000), and Paul McCarthy ($575,000). David Zwirner sold paintings by Katherine Bernhardt ($250,000), Rose Wylie ($250,000), and Mamma Andersson ($550,000). Thaddaeus Ropac sold works by Daniel Richter ($402,290), Tony Cragg ($321,830), and Lee Bul ($190,000). Lehmann Maupin sold about 15 works ($20,000–$190,000), with strong interest in Korean artists Lee Bul, Do Ho Suh, and Sung Neung Kyung. The fair overlapped with The Armory Show in New York, but Chinese collectors benefited from eased travel restrictions.