Works by Mark Bradford and Richard Prince fetch $3 million+ as the opening day of Frieze Los Angeles fair was deemed a success.
The Frieze art fair returned to LA amidst much anticipation. The high volume and big price tags by the end of the opening day on Thursday suggested that the fair has exceeded expectations. Mark Bradford at Hauser & Wirth emerged as the highest-selling artist on the opening day. His Shall Rest in Honor There (2023) fetched a record $3.5 million. At Gladstone Gallery, Richard Prince’s 1998 photograph Untitled (cowboy) fetched $3 million. Another work by Keith Haring at the same gallery sold for $500,000.
The opening day at Frieze Los Angeles wasn’t just about the big draws either; almost all participating galleries saw good sales. All 9 works by Rick Lowe at the Gagosian found buyers within a few hours of the opening. At London’s Victoria Miro, 18 paintings (each priced below $80,000) by Doron Langberg were also sold. The Pace Gallery also saw a significant number of works being sold, ranging from $45,000 to $2 million. The most noteworthy of these was a miniature sculpture of The Embrace by Hank Willis Thomas.
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The successful opening day at the Frieze Los Angeles has sent the message that the market is stable at the moment. Jessica Kreps (partner, Lehmann Maupin) said: “The energy both at the fair and beyond has been contagious. My conversations with curators and collectors seem deeper and much more calculated this year. People are interested in learning more about long-lived and established careers, rather than looking out for the next best thing.”