TEFAF brings an air of prestige to three fairs it operates—one in the Dutch city of Maastricht, two in New York—and so it has accrued a special following with established collectors and high-ranking curators. The ritzy European vibe of TEFAF New York is in some ways what differentiates this fair from the others opening this week.
But Will Korner, TEFAF’s Netherlands-based head of operations, said he also wanted to change that reputation. “In Maastricht, we felt like there were so many people in lower-value categories that have had their best years,“ he explained. “We’re not fixating on only the mega-dealing, only blue-chip bastions of art history. We see other parts of the market that have nothing to do with that top level.”
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Accordingly, some of the fair’s 91 exhibitors are this week bringing a more youthful flavor to the fair. Sprüth Magers, for example, is betting on Anne Imhof, a German artist whose performances—including one three hours long recently staged at the Park Avenue Armory, the very venue where TEFAF is now taking place—have often been compared to Balenciaga ad campaigns. Imhof has recently turned toward sculpture, and the gallery was able to place a €250,000 relief by her with a US collection that the gallery did not name. Sprüth Magers also sold drawings by her to US and European collectors at lower prices.
Some galleries ensured that TEFAF’s traditionally cosmopolitan crowd could still find what it wanted while also trying to lure in new buyers. Lisson Gallery, for example, sold a Sean Scully painting, Wall Tappan Deep Red (2025), for $500,000. Scully is well-known within the blue-chip market, but others whose works were at the booth are not. Dalton Paula, a Brazilian painter who last year figured in the Venice Biennale, made his debut with Lisson at this booth.
Gagosian, meanwhile, brought works by the youngest artist in its stable: the painter Anna Weyant. Some of her small paintings sold at the fair, but the gallery didn’t report prices for them.
Still, some of Gagosian’s competitors went in the other direction. David Zwirner reported selling out a booth of works by Ruth Asawa, a well-known artist of the postwar era who is currently the subject of a retrospective at the San Francisco Museum of Modern Art. Four of her sculptures were sold at values between $320,000 and $2.8 million. Meanwhile, six works on paper sold at values between $50,000 and $160,000.
This year, gallerists at TEFAF, are navigating a downturn in art sales. One industry report recently found global sales have fallen by around 12 percent since last year, with the biggest galleries seeing some of the most dramatic drop-offs. David Zwirner, Lisson, and Thaddaeus Ropac, all of whom are participants at TEFAF New York this year, have seen profit losses and rising operating costs in international locations between fiscal years 2023 and 2024.
Korner cautioned, however, that the downturn wasn’t being felt at every level of the art market. “We wouldn’t recognize that contraction as something that goes to all of the categories,” Korner added.
He conceded that things were different this time. There were fewer objects at the fair priced higher than $10 million, he said, and sales were occurring as quickly. “Some people aren’t traveling as much as they were two months ago,” he said.
“The pace is notably different than usual when it comes to sales—people are taking their time,” dealer Thaddeus Ropac said. “But this slower pace gives collectors space to make their decisions.” By the end of the day, his gallery had sold over $730,000 worth of work by artists including Liza Lou, Joan Snyder, David Salle, Martha Jungwirth, Robert Longo, and Megan Rooney.
Ropac said he was remaining patient, in keeping with the pace of the moment. “We’re cautiously optimistic.”