The Queens gift shop in Spitalfields Market, in the East End.
Once considered a backwater of crusty Old Master dealers, London is now a contemporary art powerhouse, with more creative and commercial clout than anywhere outside New York. The world's most influential art dealers—like Gagosian in New York, and Zurich's Hauser & Wirth—have opened galleries in the capital. Dozens of new spaces have surfaced in edgy East London. Every October international collectors flood the city for the Frieze Art Fair, organized by the London-based international art journal Frieze.