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đŸ”„ Frieze LA’s Hard Truth + André Butzer

Did collectors just ghost it?

HEY Y’ALL!

Hope you all had a great start to the week! Next week, Arco fair kicks off in Madrid—if you're in town and want to grab a drink or spot me at the fair, say hi, I don’t bite
 most of the time. That said, let’s get to it—today’s newsletter is packed!

đŸ”„ ICYMI – Catchs from the Last Weeks:

Today we have an AndrĂ© Butzer—cult favorite, volatile market, and a steal compared to his peak. Plus, Sotheby’s fights for the Riggio millions and small galleries rewrite the rules.

But first


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A message I got this week about Artscapy:

Limited spots—don’t miss out!

-Today’s Catch-

André Butzer

André Butzer, Untitled, 2022

💭 My 2 Cents: This is peak Butzer—a wide-eyed, spaghetti-limbed figure floating in a candy-colored fever dream. It’s weird, unsettling, and playful in that “I know something you don’t” kind of way. The oversized alien stare and stretched limbs scream existential crisis wrapped in a children’s book illustration. If you want a piece that hits that sweet spot between disturbing and collectible, this one delivers.

🔑 Key Numbers: At £130K, this isn’t cheap, but considering Butzer’s record sits at £400K+, there’s room to run. His average hammer ratio is 1.79, meaning his work consistently beats estimates. Large-scale works (like this 212 cm piece) tend to perform well, especially when they showcase his signature style. Expect some volatility—his prices have spiked and dipped—but overall, demand hasn’t wavered.

🧠 Why It’s a Smart Pick: Butzer has institutional backing, a cult following, and a market that rewards his most iconic works—and this is exactly that. It’s a Butzer from a key period, making it a safe bet for long-term appreciation. Plus, let’s be honest—this thing grabs attention. Hang it up and watch collectors, critics, and market-watchers nod in approval.

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-In a Minute-

đŸ”„ Words I Like: cutthroat, rigged, smoke & mirrors

Blood, Money, and Backrooms

Let’s talk about blood in the water. The Riggio Estate is up for grabs, and Christie’s and Sotheby’s are playing dirty. When a top-tier collector kicks it, the real game begins—backroom deals, secret handshakes, and numbers that never see the press releases.

Expect a cutthroat fight over those Judds and Serras, and keep an eye on what doesn’t hit the block—some of the best pieces always get quietly absorbed into museum collections before they ever see a paddle. If you’re smart, start watching for which lots end up where—whoever wins this war will set the tone for the market in 2025.

Meanwhile, Frieze LA went ahead despite the city being a post-apocalyptic hellscape. VIPs in designer sneakers stepped over ash to buy million-dollar canvases, while some collectors just used the fires as an excuse to skip an already weak edition. The fair needed a win—it got a shrug. The real takeaway? Art fairs are cracking. Too many, too often, and collectors aren’t biting like they used to.

New York’s small galleries figured out how to survive without selling their souls: pooling spaces, cutting costs, and playing the long game. JDJ, Deanna Evans, Proxyco—these aren’t just tiny players clinging to life. They’re testing a new model, one that doesn’t rely on a few mega-collectors dropping six figures a year to keep the lights on.

And then there’s quantum computing—the art world’s next blind spot. While dealers fight over dead collectors’ trophies, tech is rewriting the game behind their backs. Laure Prouvost is already messing with quantum AI, tapping into a computing system so sensitive that a dying star could throw it off. Sounds poetic? 

Imagine a market where collectors aren’t just bidding on paintings, but on live, evolving datasets. Most people aren’t ready for this shift—but the first collectors who figure it out? They’ll print money.

-Whenever You Are Ready-

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See you soon!

-Alvaro (@theartmarketguy)

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Not financial advice. Frame&Flame is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions.