Wednesday, October 14, 2009

«I LIKE MONEY ON THE WALL»

Oct. 15 (Bloomberg) -- Roman Abramovich and Gwyneth Paltrow were among those seen browsing at London’s Frieze Art Fair yesterday as buyers negotiated for discounts from the world’s leading dealers in contemporary art. The Russian billionaire and Hollywood actress separately visited the VIP preview, along with U.S. hedge fund manager David Ganek. A total of 165 gallery owners from 30 countries are hoping that international collectors and curators will lift the mood of uncertainty that has gripped the market since the collapse of Lehman Brothers Holdings Inc. in September 2008. “People are making more considered choices,” said the London-based dealer Stephen Friedman. “They’re buying less, they’re buying better quality and they’re expecting more for their money.”

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