‘Like Getting a 20 Percent Discount’: For U.S. Collectors at European Art Fairs, the Strong Dollar Means Everything Is on Sale

Frieze London 2019. Photo by Linda Nylind. Courtesy of Linda Nylind/Frieze.

Journalist Melanie Gerlis reports on the historic value of the dollar, compared to six major currencies this month, and how it is making the next two weeks of art fairs in Europe all the more appealing for American collectors.

In her article, ‘Like Getting a 20 Percent Discount’: For U.S. Collectors at European Art Fairs, the Strong Dollar Means Everything Is on Sale’ (October 10, 2022) Gerlis reports on the effects of the rapid currency shifts, sharing that “for those outside the U.S. […] the economic headwinds are starting to burn—and requiring them to make adjustments.”

Quoted in Gerlis’ article, Megan Fox Kelly notes that, “Beyond the art fairs, collectors in the U.K. and elsewhere in Europe may be feeling the pinch and are going to be looking to sell certain things—maybe not in the coming weeks, in the coming months.”

“Whether that happens at auction or on the private side, clients are on the lookout for consignments coming out of European collections. After all, if the artworks are sold in Europe, Americans will be able, essentially, to get them on sale.”

Read the full article by Melanie Gerlis here.