The changing face of the art fair

In a year marked by shifting sands across the art world, it is becoming increasingly clear that the once unshakeable institution of the traditional art fair is facing a moment of reckoning. Most recently, Eye of the Collector, one of London’s more intimate and curated fairs, announced it would be “put on pause” for 2025. This follows a wider trend of cancellations, scaled-down editions, and dwindling footfall at other established events, including the Art & Antiques Fair Olympia in London and the contemporary section of the India Art Fair in Mumbai.

So, what is behind the slow retreat of these longstanding fixtures in the art calendar?

Economic pressures take centre stage

Unsurprisingly, the broader macroeconomic climate is playing a significant role. Organising an art fair has always been a costly affair—from venue hire and insurance to marketing and shipping logistics. But with rising inflation and tightening budgets across the board, many galleries are reconsidering the return on investment. Simply put, the costs are often no longer justifiable.

In parallel, we are witnessing a shift in collector behaviour. Today’s collectors are digitally savvy and increasingly less reliant on traditional, in-person channels to discover and acquire artworks. While art fairs were once the highlight of the collecting season—a chance to see and be seen—many now prefer the convenience, transparency, and tailored nature of online and advisory-led platforms.

A new approach

While the traditional model is under strain, it is far from doom and gloom for the art market as a whole. In fact, we are seeing encouraging signs of innovation and growth in areas that respond to the evolving needs of both collectors and artists. At Artscapy, we have experienced significant growth over the past year, precisely because our approach reflects this new reality.

Our advisory-led model, supported by a digital ecosystem, offers a more personal, flexible, and cost-effective way to connect buyers and sellers. Rather than focusing on temporary booths and physical footfall, we prioritise curated matches, transparent pricing, and meaningful relationships. For many collectors—particularly younger and first-time buyers—this is a far more accessible and rewarding way to engage with the art world.

Looking ahead

While it is always sad to see beloved events like Eye of the Collector take a step back, their pause presents an opportunity for reinvention. The art world is not in decline—it is simply evolving. As technology continues to reshape how we discover and acquire art, new models are emerging to meet the moment.

At Artscapy, we remain committed to being at the forefront of that change: making collecting smarter, more inclusive, and more sustainable for the long term. And perhaps most importantly, reminding people that there is still magic in the art world, just not always in the places we used to look for it.