Frieze art fair has opened in London this month, featuring over 170 galleries from around the world, exhibiting work from what they term the world’s “leading” artists. Such a big event is a melting pot of contemporary artistic talent, and one of the best places for art buyers to browse for their private collections.

The Guardian, on their website, offer the opportunity to try your hand at bidding on artworks most people couldn’t afford, testing your knowledge of the price ranges of the exhibited artworks. Can you tell the difference between a new artist, charging a mere £5,000 for their work, from a masterpiece worth over £500,000?

As fun as it can be to judge art as though money is bursting from your wallet, when you think to yourself “No, I don’t like that, I’d only pay a few thousand for it” you know there’s something about that art world that needs to be examined. The art on show at Frieze, while it can be viewed by anyone who can make it to London, is displayed for appreciation as well as class categorisation.

Yes, artists work hard, and it’s hard to make it as an artist, so they deserve to be rewarded economically for their efforts. But when you look at Dominique Gonzalez-Foerster’s After, a red neon sign spelling the word “after” (unsurprisingly), you realise that it is more concept than artwork that you’re forking out up to £50,000 for. For those just visiting the art fair, the message is loud and clear: you can’t afford this, you may only look and not touch.

The art dealers are certainly to blame, but those willing to pay these unbelievable amounts are at fault as well. If you have the money, and really want to own a work, you’ll outbid until the prices no longer make sense. Art at these prices looks suspiciously like proof of culture: I’m willing to pay top-dollar because I really, really appreciate art.

It can be infuriating seeing the prices of artwork these days. It serves as proof that while the divide between rich and poor is becoming more prominent, those in the art community are sticking to the same old class assumptions that those with less money are necessarily less cultured.

If you're as angry as I am about all this, take solace in the fact that at least we live in a city where we can get into the National Gallery for free, and soothe out our anger in a quiet, peaceful environment.

First published 18/10/11