Despite the absence of many collectors and museum directors, thanks to the health risks linked to the coronavirus, the major European fine art fair TEFAF Maastricht remained on schedule, even recording several sales when it opened its doors on March 7.
It was therefore believed to have been spared, but the impact of the epidemic didn’t take long before it was felt: according to a press release published on March 11, the 33rd edition of the fair was to end that, even after the start of its last visitors at 7 p.m. The event was scheduled to run until March 15, 2020.
See also: Art Basel Hong Kong Cancelled Because of Coronavirus
Like the world's stock market, it will be a turbulent year in the art market, which will speed up both consolidations and bankruptcies.
The decision was made a few hours after a publication by The Art Newspaper announced that one of the TEFAF exhibitors had tested positive for Coronavirus. The exhibitor was not identified in the report, but according to the article, is "an Italian modern art dealer".
This drastic measure was taken by mutual agreement with the city of Maastricht, the health authorities, and MECC Maastricht. "In light of recent developments in the regions around Maastricht and growing concerns, we believe it is not appropriate to continue as planned," said Nanne Dekking, Chairman of the TEFAF Board of Directors, in a statement.
The Dutch fair still managed to welcome visitors for five consecutive days, while many events, such as Miart in Milan, the Miami Map Fair, and Art Dubai, have been postponed or cancelled.
“I’m afraid this is the new reality we have to deal with," said Pontus Silfverstolpe, co-founder of Barnebys. "We see how fairs are being closed or postponed around the world, museums are closing and some houses are choosing to cancel their auctions until further notice. Like the world's stock market, it will be a turbulent year in the art market, which will speed up both consolidations and bankruptcies.”
“TEFAF has always excelled in presenting the best of art to the public here in Maastricht, and we are proud to have witnessed the professionalism and solidarity between members of the TEFAF family during the fair and in such unusual circumstances,” continued Dekking.
Among the few sales recorded this year is La Paysanne devant la chaumière (Peasant Woman in Front of a Cottage), by Vincent Van Gogh, sold for nearly €15 million by London gallery Dickinson.
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