“What always fascinates me is the narrative potential of art,” said Emanuela Tarizzo, the new director of London’s prestigious Frieze Masters fair, which brings together art and collectibles from antiquity to the 20th century. “It’s a way to tell a story and to feel anchored within the broader story of humanity.”

Art history has been a passion for Tarizzo since the age of 10, when she was lucky enough to encounter the subject as part of the national curriculum in her native Italy. Previously led by Nathan Clements-Gillespie, she takes the reins of the fair at a moment of broader market downturn—but increased interest in Old Masters works. (According to Artnet’s Mid-Year Intelligence Report, global auction sales of Old Masters rose 24 percent in the first half of the year, thanks in part to a large amount of material coming to market.) She also brings valuable firsthand experience of working as a dealer: she was formerly the director of the London-based gallery Tomasso, one of several exhibitors returning to the fair this year after a hiatus.

Emanuela Tarizzo. Photo: Harry Mitchell.

Running October 15 to 19 at Regent’s Park, concurrent to its contemporary art–focused sister fair Frieze London, this edition of Frieze Masters will feature a total of 137 galleries from 27 countries. Alongside the main galleries section, the fair will bring back two acclaimed curated programs. The Studio section, curated by Sheena Wagstaff with Margrethe Troensegaard, returns for its third year with six solo presentations by contemporary artists whose work engages with historical themes and artists, including Anju Dodiya at Vadehra Art Gallery and Samia Halaby at Sfeir-Semler Gallery. Also returning for a third edition, the Spotlight section, curated by Valerie Cassel Oliver, will highlight rediscovered artists, such as Brazil’s pioneering conceptualist Cildo Meireles and Novera Ahmed, widely regarded as Bangladesh’s first modern sculptor.

Anju Dodiya, A Measure of Happiness (2025). The artist is featured in a solo project presented by Vadehra Art Gallery in the Studio sector at this year’s Frieze Masters. Courtesy of Vadehra Art Gallery.

Tarizzo, 37, hopes to expand the fair’s reach while nurturing a new generation of dealers and collectors who “see art as a language that connects cultures across time,” she said. As Tarizzo prepares for her first edition at the helm, I caught up with her to discuss what’s fueling new interest in Old Masters, the evolving tastes of younger collectors, and the fair’s role in connecting past and present.

Have you observed a growing interest in Old Masters and historical art in recent years?

In the past five to seven years, museums have made a concerted effort to reflect broader audience concerns—particularly in highlighting historically overlooked artists, such as women. That renewed focus has absolutely influenced the market. It’s led to the rediscovery of many important female artists, and we’re seeing growing interest not only from established collectors, but from younger audiences as well.

Art fairs play a vital role in this shift, especially a fair like Frieze Masters. The accessibility of the city, the diversity of its audience—it all contributes to a unique atmosphere. You don’t just meet seasoned collectors, but also curious visitors who may be engaging with this material for the first time. As many galleries say, Frieze Masters is remarkable because you meet a different public, people you wouldn’t necessarily encounter at more specialist fairs.

An enthusiastic crowd at Daniel Crouch Rare Books, Frieze Masters 2024. Courtesy of Frieze.

Can you tell me more about the younger buyers you’ve noticed taking an interest?

This shift corresponds to the generational transfer of wealth from the Boomers to the Millennials. We are seeing a shift in taste. You notice it in interiors, in magazines—there is a growing appetite for what some call “maximalist” or more idiosyncratic styles, where older artworks, antique furniture, and contemporary pieces all sit together. There’s more cross-collecting happening, and it’s driven by emotion and individuality.

Younger collectors, in particular, aren’t necessarily coming into the art world with a specialist mindset, like focusing only on the Dutch Golden Age or American Pop. Instead, they’re open to looking, discovering, and responding to what resonates with them personally, regardless of period or culture. That openness is incredibly refreshing—and important.

I’ve spoken to collectors who began with contemporary art, and often their interests evolved almost by chance. It might be walking into a gallery one day because something in the window caught their eye, or stumbling across a piece at a fair. That moment of unexpected connection can spark a whole new passion and open the door to collecting in a completely different category.

Les Enluminures, Frieze Masters 2023. Photo: Michael Adair. Courtesy of Frieze.

Galleries today are also much more open and eager to speak with younger generations and with those who may never have considered collecting historical works before. We have younger generations of dealers who are very happy to bring in their friends and acquaintances from the same generation into their world. Just go and have a conversation with them.

What’s one misconception about Old Masters you’d like to set straight?

Pricing is definitely something worth highlighting. In conversations, especially with younger audiences, not necessarily collectors, I often encounter surprise around the idea that Old Masters works are even for sale. For instance, I’ve led groups of students from the Sotheby’s Institute of Art through Old Masters galleries in London, and a common question is: “Can you actually buy these?”

The answer is yes. These works are on the market, and price points vary widely, starting from around £5,000 ($6,737) or £10,000 ($13,474), and of course, going up from there. But they are accessible. You don’t need to be a specialist collector to begin engaging with historical art. They are not only attainable for a selected few who have always been collecting Old Masters.

David Aaron, Frieze Masters 2024. Photo by Hugo Glendinning. Courtesy of Frieze and Hugo Glendinning.

You were once an exhibitor at Frieze Masters, as the former director of Tomasso gallery. Has that experience helped shape how you want to direct the fair? 

Frieze Masters has been a fair I’ve always loved to do as an exhibitor. It has an excellent size. It offers a huge variety and richness without being overwhelming. That dialogue plays out in the fair itself, where you might find a gallery presenting ancient Egyptian art right next to one showcasing the work of a contemporary Aboriginal Australian painter. It’s that range, across geography, time, and culture, that makes the experience so unique. We also meet an audience of collectors, general public, and will-be collectors.

Having been an exhibitor at the fair before stepping into this role has informed my approach enormously. That firsthand experience gave me insight into what galleries need and expect. It’s been invaluable.

Frieze Masters 2024. Photo: Hugo Glendinning. Courtesy of Frieze.

Of course, the focus shifts significantly. As an exhibitor, you’re thinking about your own presentation, your artists, your booth. Now, my responsibility is to 137 galleries, striking a balance, ensuring each one feels represented, supported, and heard within the broader community. It’s a very different perspective, but one that benefits from having been on both sides.

What changes or new initiatives are you introducing this year?

I joined in April, which gave me about six months before the fair. That might sound like a decent amount of time, but in reality, it’s not much. Frieze Masters may happen once a year, but it takes at least a year, if not more, to plan. So I can’t take credit for many of the initiatives launching this edition.

My focus this year has really been on learning, listening, and beginning to contribute by inviting a number of historical galleries that I felt would strengthen the fair’s core mission. One area I’m especially passionate about is supporting younger galleries, something often associated with emerging contemporary art, but just as important in the field of historical or 20th-century material. There are some incredibly exciting younger dealers working in this space, and I believe Frieze Masters is the right platform to champion them. Among the 20 first-time exhibitors are London’s Jeremy Scholar (founded in 2023) and France’s Champ Lacombe (2021), while Kallos Gallery, the Weiss Gallery, and Rupert Wace return to the fair after a hiatus.