Scott Reyburn of Bloomberg previews the Frieze Fair starting Oct. 14th and captures the sense of change that has finally settled into the art world:

“It’s still a different world,” Frieze exhibitor Cornelia Grassi, director of the London-based Greengrassi gallery, said in an interview. “There was a marked difference at last year’s fair. It was a wake-up call for everyone.”

London-based dealer Gerard Faggionato will be offering Bacon’s 1988 painting of a male nude, “Study from the Human Body after Muybridge,” with a price of $9 million at the satellite Pavilion of Art & Design London fair. The painting is from the estate of the artist, which Faggionato represents.

“There’s been a change from galleries asking who they want to sell to, to collectors asking who they want to buy from,” Faggionato said in an interview. “People will wake up next week. Everybody’s waiting to see what will happen.” […]

“Last year, energy levels at Frieze were lower than previously,” Todd Levin, director of New York-based advisers, Levin Art Group, said in an interview. “Though business was done, people were methodical, cautious. They were in no rush. I expect the same this year.” His clients were being advised to adopt a wait-and-see attitude, he said.

“In the resale market for established artists, we’re waiting to see if there will be more blood in the streets,” Levin said. “And we’re also waiting for new artists to capture the zeitgeist. We’re not quite there yet.”

Frieze Week to Lure Billionaires With $9 Million Bacon Nude (Bloomberg)