IN CONVERSATION WITH
DAMIAN DELAHUNTY
The founder of Delahunty Fine Art shares what collectors should know about Mayfair’s art scene
His Mayfair maiden voyage was Mount Street Gallery, which opened in 2002, but Damian Delahunty can now be found trading under the name Delahunty Fine Art in a Grade II-listed townhouse on Bruton Street. The gallery specialises in International Contemporary as well as 20th-Century Post-War and Modern European art, from Basquiat to Banksy. His focus is on advising clients in managing secondary market private sales, often building collections from the ground up with a view to maintaining value – as well as joy.
HOW IS MAYFAIR DIFFERENT FROM OTHER INTERNATIONAL ART DISTRICTS LIKE LE MARAIS OR TRIBECA?
Mayfair is a distilled version of everything people love about London within a square mile. Hyde Park is on the doorstep and Mayfair is a distilled version of everything people love about London within a square mile. Hyde Park is on the doorstep and the buildings are charming, from Mount Street’s terracotta stucco to the majesty of the Royal Academy and Bond Street. Bruton Place is one of the area’s hidden gems. It’s a small mews with excellent restaurants. Try Umu for sushi, Cocochine for high-end tasting menus, and Bellamy’s for top British fare.
WHAT MAKES MAYFAIR A STRATEGICALLY IMPORTANT LOCATION FOR SERIOUS COLLECTORS TODAY?
There are great galleries across London, but Mayfair has become the centre of the city’s art scene. The four main auction houses (Sotheby’s, Christie’s, Bonhams, and Phillips) are nearby, and the Royal Academy is just around the corner. Thanks to the efforts of landlords like Grosvenor and the Berkeley Square Estate over the past 15 years, you now have big fashion conglomerates, heritage British businesses, and flamboyant restaurants such as Sexy Fish alongside stalwarts like Scott’s.
DELAHUNTY FINE ART
HOW HAS THE COLLECTOR PROFILE INTHE AREA CHANGED OVER THE PAST DECADE?
Traditionally, Mayfair collectors were 60+ with an interest in the Old Masters and Neoclassical sculpture. Now they’re much younger with a broader interest in contemporary art. You see that reflected in contemporary galleries such as David Zwirner on Grafton Street and Gagosian on Grosvenor Hill, although there are still enough seasoned collectors to support great antique dealers such as Ronald Phillips on Bruton Street and Berkeley Square’s David Aaron.
“Frieze art fair takes place mid-month, and the major auction houses have their key sales then, while galleries stage their strongest shows.”
WHAT TRENDS DO YOU SEE SHAPING THE TOP END OF THE MARKET IN THE NEXT 12–18 MONTHS?
In the past decade, there was rampant speculation that saw younger artists suddenly selling at auction with quadrupled estimates. That’s cooled. If you want to buy from an emerging artist, do so because you love their work and it fits with your collection rather than as an investment. This is a time to speculate with caution.
The top end of the market is driven by supply rather than demand, so it’s less influenced by geopolitical instability. Great works aren’t available often and there are plenty of trophy hunters out there. We always advise our clients to buy the best example of an artist’s work they possibly can, as these will preserve their value.
WHAT ROLE DOES DELAHUNTY FINE ART PLAY IN SHAPING MAYFAIR’S SCENE, BOTH COMMERCIALLY AND CULTURALLY?
Our business principally focuses on selling post-war and contemporary art from the 1950s onwards. Think classical contemporary artists like late-period Picasso, Andy Warhol, and Jean-Michel Basquiat, alongside present-day names like Damian Hirst, Banksy, and Tracey Emin.
We also have an advisory arm, helping people to build collections from the ground up. A lot of collectors today are looking at alternative asset investments like wine, cars, and watches, and we bring some of that mindset to our advisory work. Sure, we want clients to love what they buy, but we also want them to consider its value and potential growth.
IF A COLLECTOR WERE REVISITING MAYFAIR THIS AUTUMN WITH AN EYE TO INVEST, WHERE SHOULD THEIR ATTENTION BE FOCUSED?
October is a big moment in London. Frieze art fair takes place mid-month, and the major auction houses have their key sales then, while galleries stage their strongest shows. I will be telling my clients to see as much as they can and take the time to work out what resonates with them. Once they understand that, we can guide them from both an aesthetic and value perspective.
In October, Delahunty Fine Art will be showing work by Banksy, Damien Hirst, David Hockney, Jean-Michel Basquiat, and Bridget Riley among others. delahuntyfineart.com
HOW MUCH ARE YOUR COLLECTORS SHAPING ARTIST TRAJECTORIES?
Institutional support is critical in London where museums are often underfunded. Many of our collectors are very engaged in supporting institutions such as the Tate and the Serpentine through donations or by helping to fund acquisitions. They also commission work – from a painting to a full body – and this really
supports artists’ careers.
HOW DO YOU BALANCE EMOTION WITH VALUE WHEN HELPING CLIENTS BUILD A COLLECTION?
People fall in love with a particular work but we need to make sure they’re buying the right example of that artist’s work at the right time. Take David Hockney. Go back 15 years and Francis Bacon sold for nearly $100 million, Lucian Freud for tens of millions, but Hockney was under $10 million. That’s the kind of
scenario where we would advise our collectors to buy. Today, Hockney’s record sits closer to $100 million.
WHAT ABOUT THEMATIC OR COHESIVE COLLECTING?
If you walked into any museum in London 50 years ago, most of the art you’d see was made by middle-aged white men. As a reaction, a lot of people today are looking to build thoughtful, cohesive collections from underrepresented groups including women. There’s nothing wrong with loving both Pop Art and Old Masters, it just depends whether you’re decorating a home or curating a serious art collection. My advice is to buy what you love, but also to think about value and context.
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The Lodha name has long been associated with a deep appreciation for fine art and creativity. In 2017, the group acquired a Picasso for Altamount Road, one of our flagship developments in Mumbai. The original piece, Les Plages, Juan-les-Pins, still hangs in the lobby entrance, offering a public moment of art for all to enjoy. This commitment to art continued with the launch of one of Mayfair’s most distinguished residential projects and Lodha’s presence at Frieze Masters, one of the world’s leading art fairs, held each October in Regent’s Park.