Billionaire Ari Emanuel, whose company Endeavor recently acquired the Frieze art fairs, kicked off the VIP opening of Frieze Los Angeles by acquiring three works by 86-year-old Black quiltmaker Yvonne Wells. Emanuel entered the Santa Monica Airport venue ahead of the general VIP crowd, purchasing textile portraits of Michael Jackson, Marilyn Monroe, and Elvis Presley from New York gallery Fort Gansevoort. The transaction, facilitated by Emanuel's long-time advisor Jeffrey Deitch, set a high-energy tone for an opening day that saw brisk sales, including a $3.75 million Ed Ruscha painting at Gagosian.
This early acquisition highlights the intersection of corporate ownership and private collecting within the art market, as Emanuel leverages his position to build a collection focused on historical and contemporary Black art. The success of Wells’s solo presentation underscores a continuing market trend toward recognizing self-taught and vernacular artists. Furthermore, the presence of high-profile celebrities and significant seven-figure sales reinforces Frieze Los Angeles's status as a critical commercial hub for the global contemporary art world.