Organisers have announced that the Grosvenor House Art and Antiques Fair is no longer financially viable and will not take place next year.

The fair, which has been a focal point of the British art and antiques calendar for the past 75 years, has always been held at the hotel on Park Lane.

However, in consultation with the British Antique Dealers’ Association and the executive committee, it has been decided that the fair is no longer financially viable.

Hopes are high that this will provide an opportunity for the trade to mount a new event commensurate with maintaining London as the centre of the art market.

Chairman Simon Phillips says: ‘It has been a very long and happy partnership but most great events have a lifespan and a diamond anniversary is a fitting point on which to end on a positive note.’

* Interview with Arms & Armour dealer, Peter Finer, a regular exhibitor at the fair

For more news stories like this every week subscribe and save