And some dealers are simply keeping price points low. “The work I’m bringing is around the $2,000 price point, or 1,000 pounds,” says New York dealer Michael Foley, who will be at Bridge. “And that could be very enticing to collectors.”

Even though the dollar is also doing poorly against the euro, Winkleman points out that some galleries have considered doing the Artissima fair in Turin, Italy, or the FIAC fair in Paris, and skipping more expensive London altogether. Still, London is where the market is. Says Winkleman, “You go to Europe as a young gallery either to make a statement or to try to make some money with new European collectors. If you want to make a statement, you might go to Art Forum in Berlin or Artisimma in Turin. If you are trying to make money, you probably go to London first.”