Cool Britannia Art Market Boom, Tate Britain Exhibit Spark Debate

(MENAFN- USA Art News) The spirit of the late 1990s London art market, often dubbed“Cool Britannia,” is a prominent topic of discussion during Frieze week, fueled by a Tate Britain exhibition and significant auction sales. This period, characterized by the Tony Blair New Labour government and a burgeoning gallery scene, notably inspired Matthew Slotover and Amanda Sharp to launch Frieze in 2003, solidifying London's position as a global art center.

Tate Britain's exhibition, The 90s: Fashion and Art, features prominent Young British Artists (YBAs) like Damien Hirst, alongside figures from the era who were previously overlooked, such as BLK Art Group founder Keith Piper. Concurrently, major patrons from that time are now bringing their collections to auction. Earlier this week, Christie's sold £178 million worth of art from the collection of Peter Simon, founder of Monsoon. This sale included early works by artists from the period, including Mat Collishaw, Wolfgang Tillmans, and Hurvin Anderson.

Artists synonymous with the Cool Britannia movement continue to be a core element of Frieze London. For instance, three editions of a neon work by Tracey Emin, whose popular Tate Modern exhibition recently traveled to the Louisiana Museum of Modern Art in Denmark, sold at Xavier Hufkens for £95,000 each. Meanwhile, Sadie Coles HQ is showcasing some of Sarah Lucas's notable self-portraits from the 1990s on its stand.

Some artists from this era are now featured at Frieze Masters. Hazlitt Holland-Hibbert has sold early 1990s works by Rachel Whiteread, including sculptures from her Torso series, with prices up to £60,000. While two paintings by fellow YBA Gary Hume have not yet sold, James Holland-Hibbert recently organized solo shows of Hume's 90s work, accompanied by catalogues and new curatorial essays designed to offer“greater context for understanding these works and their significance with the benefit of hindsight.” Holland-Hibbert states that Whiteread's 90s works are valuable because they“represent an important moment in understanding her wider practice.”

The past decade has also seen increased recognition for artists whose work was marginalized during Cool Britannia. Lubaina Himid, for example, is now considered a leading voice of her generation following her 2017 Turner Prize win and her representation at this year's Venice Biennale in the British Pavilion. Hollybush Gardens, the London gallery that began collaborating with Himid in 2013 and played a key role in her market visibility, has sold most of the artist's works from its Frieze London stand. These sales included an installation of ceramic works and a diptych, priced between £45,000 and £120,000.

This renewed institutional and market interest aligns with a sentiment among cultural figures who perceive a fresh optimism in post-Brexit London, drawing parallels to the energy of the 1990s. Yana Peel, Chief Executive of the Chanel Culture Fund, noted in an August Financial Times op-ed that“the last time the city felt this charged was in 1997, Cool Britannia.” She cited record levels of private philanthropy, such as the £150 million donation to the National Gallery by the Julia Rausing Trust, as promising developments, expressing hope for“the technology titans of today to invest in the artists of tomorrow.” Directors of emerging galleries and avant-garde institutions also describe a return“to a grassroots energy” reminiscent of the 1990s, referring to the recent proliferation of galleries and non-profit art spaces in London.

“Fabricated market moment”

However, Lisa Panting, co-founder of Hollybush Gardens, is among several dealers who question whether the Cool Britannia revival extends beyond a“superficial” level. She reflects that the period was in fact a“fabricated market moment orchestrated by a few key players. There is a parochialism in how a handful of artists were thrust into becoming a movement. It simply couldn't happen today, the scene is so much more diverse, there are so many more components to it now.” Panting further added that“the social and economic conditions of today are vastly different.”

The emphasis on private sector actors overlooks that many key artists and art dealers of the Cool Britannia era emerged from socialist education policies and a welfare state. These policies were dismantled by Prime Minister Margaret Thatcher in the 1980s and further eroded under Blair. As one London dealer who established their gallery in the 1990s remarked,“My era was the last time you could live in London with no money.”

We previously reported:

London offers a variety of exhibitions during Frieze Week, including shows at the National Gallery, Tate Britain, Courtauld Gallery, and National Portrait

London's art market is experiencing a resurgence ahead of Frieze, despite Paris drawing top international collectors and high-value sales.

New boutique art fairs are offering alternative, intimate experiences during London's Frieze Week, focusing on curated presentations and lower barriers for

Source: The Art Newspaper

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