«IT'S CALLED GOSSIP AND OF COURSE IT'S AN OBSESSION OF MINE»

Oct. 10 (Bloomberg) -- Jeff Koons, Lucian Freud and Gerhard Richter artworks will be among more than $500 million worth of contemporary pieces on offer this week at auctions and fairs in London. Dealers are hoping that demand holds up from billionaire buyers after stocks dived on worries about government debts.The evening auctions this week are worth 56.8 million pounds ($88.4 million), according to Bloomberg calculations. In addition, hundreds of wealthy buyers are in the U.K. for Frieze, Europe’s biggest commercial fair primarily devoted to living artists, which has $350 million of works on offer, according to insurer Hiscox Ltd. Daytime auctions, gallery shows and satellite fairs add to the total.