Is the energy of the 1990s returning to London’s art market?
A fascination with Cool Britannia is evident at exhibitions, auctions and art fairs—though some question whether a revival of this era is possible or wise
The art market in London seems to be experiencing a resurgence reminiscent of the 1990s, often referred to as the "Cool Britannia" era. This optimism, driven by Tony Blair's New Labour government and a burgeoning gallery scene, helped Matthew Slotover and Amanda Sharp launch Frieze London in 2003, reaffirming the city's status as a global art hub.
Tate Britain's exhibition, "The 90s: Fashion and Art," featuring both prominent figures like Damien Hirst and underrepresented artists such as Keith Piper, highlights the significance of this period. Christie's recent sale of Peter Simon's collection, which fetched £178 million, included early works by YBAs like Mat Collishaw, Wolfgang Tillmans, and Hurvin Anderson.
The return of these artists to the art market, now at the height of their careers, indicates a renewed interest in the works from the 1990s. Local galleries, such as Hollybush Gardens, have also capitalized on this trend by selling works by artists like Lubaina Himid, who gained prominence after her Turner Prize win and a major exhibition at this year's Venice Biennale.
While there is a renewed sense of optimism in London's art scene, post-Brexit, some critics argue that the current revival is superficial, citing the fabricated nature of the Cool Britannia era. This period was primarily driven by a few key players and benefited from a more homogeneous art scene and favorable economic conditions.
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