Is art recession-proof?

Nigel Wrench is at the Frieze Art Fair to see if the booming contemporary art market will follow the stock exchanges and plummet in value.

Frieze, in Regents Park in London, is now one of the big three contemporary art fairs (the others are Art Basel in Switzerland and Art Basel Miami Beach in Florida) in a market that's been worth £10-billion a year.

Will all those who spent so much at the Damien Hirst auction last month lose their shirts on their pickled calves? Nigel will be asking a collector and an expert this evening.

In the meantime. What would £7,000 (editor Sawyer's random amount) buy you at Frieze?

Here are three ideas, three pieces snapped by Nigel in the first hour of the press view this afternoon:

"To Fix The Gap In Your Head", by SebPantane.
Gallery, Maureen Paley, London, £6,000

And

"Untitled " by Cathy Wilkes, (turner Prize nominee and yes it is a tea towel)
Gallery, Modern Institute, Glasgow, £7,000

Finally how about

"Two Bears" by Sergey Bratkov
Regina Gallery, Moscow, £7,000

Which would you buy with our £7,000? With the stock markets is the art market is a better place to put your cash?

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