London just lost a fair: the next edition of the art and antiques fair, Masterpiece, has been officially cancelled on 9 January 2023 by the parent company MCH Group, which is also responsible for Art Basel. It was due to take place in early summer.
Created in 2010, the fair offered works of art ranging from old masters, contemporary art and antiques to jewellery, design and cars. The arrival of Covid had forced the management to cancel the event in 2020 and 2021, but it did take place last summer, in 2022. Masterpiece’s director, Lucie Kitchener, noted losses among the galleries represented, which fell from 150 in 2019 to 129. Economic difficulties followed for the fair.
The Brexit is also to blame, causing the capital more and more problems in terms of international cultural events. Traders are now more interested in Paris. London, for its part, is seeing its institutions face general budget cuts. A delicate situation for the city.