Balance the buzz and the business: That seems to be the motto of the 11th Frieze London art fair. Concerned that the crowds and parties were starting to elbow out sales, organizers are aiming for a smaller, more focused event.
They have cut by 20% the number of available tickets, including those for VIPs, and reduced the number of galleries presenting their works to 152 from 175 last year. Meanwhile, some galleries that formerly brought in a range of artists are turning to one-artist booths to boost the profiles of lower-priced new or middle-market artists.
The vaunted party scene, second only to Art Basel Miami Beach on the art-fair circuit, is a double-edged sword, some galleries say. "A lot of people don't realize that dealers aren't there just to hang out. This is a huge part of our business," says Cuban-American dealer Javier Peres, who has shown at Frieze London since 2004. He sat out last year—a move prompted by uneven sales and the fact that many of the fair's 55,000 visitors were only window-shopping—but his gallery will be back on Wednesday, when the five-day fair begins.
The cutbacks are meant to "make the fair more luxurious," says Frieze London's co-founder and director Amanda Sharp.
Some things will be the same: Large galleries with stables of high-profile artists typically opt to show a sampling of fresh work at Frieze. U.S.-based Bloom & Poe will offer a $400,000 painting by Takashi Murakami, while Austrian dealer Thaddaeus Ropac is bringing a $1.8 million abstract sculpture by Georg Baselitz.
In previous years, many dealers say, visitors ended up suffering from "fair fatigue"—overwhelmed by the number of galleries and artists represented. To counter this, the New York-based Marianne Boesky gallery is focusing on just one artist: 11 works on paper and oil paintings by Russian-born artist Kon Trubkovich. His eerie, blurry images, often preoccupied with incarceration, range from $9,000 to $65,000.
Gerd Harry Lybke, whose Leipzig, Germany, gallery Eigen + Art represents Neo Rauch, says a safe bet would be bringing to Frieze the superstar painter's works, which range from about $160,000 to $950,000 on the primary market. But many Frieze visitors already know Mr. Rauch's work, and it is a better long-term strategy to introduce them to a less familiar figure, Mr. Lybke says. He says he hopes to raise the profile of Mr. Rauch's contemporary Uwe Kowski, whose works, often hovering somewhere between representation and abstraction, range from $2,700 to $80,000.
It is a risky move at a fair where an average-size booth costs around $35,000—not including thousands more for art transport and lodging. "If you go to a fair like Frieze and don't earn money, you're screwed," says Mr. Lybke. "I'm bringing two people whose sole jobs are to concern themselves with Uwe's work and explain it to you in a few sentences."
Lisson Gallery is hosting a solo booth of only one work, asking around $600,000 for an installation by Dan Graham, an American artist in his 70s.
While Frieze London cuts back, Frieze Masters is adding 30 galleries for 131 overall. The sister fair, which runs simultaneously, launched last year to show works created before 2000 and racked up strong sales figures, including Van de Weghe Fine Art's sale of an $8.5 million Pablo Picasso painting and a 1968 Joan Miró sold by Helly Nahmad for around $20 million.
Simon Dickinson is one of a handful of galleries leaving the smaller Pavilion of Art and Design, another London-based autumn fair, for Frieze Masters. Director Emma Ward says her gallery will be bringing 30 works including "Study for Discs," a 1919 oil painting by Fernand Léger priced at around $9.6 million.
Meanwhile, Acquavella Galleries is upping the ante with Picasso's 1949 "Woman Sitting," offered for around $20 million, and a 1950 Francis Bacon for around $11 million. Zurich-based David Koetser will be bringing a $6.2 million oil on copper by Jan Brueghel the Elder.
Many of the new galleries are major players who held back last autumn to see if the fair took root. "We had nothing to base the caliber of the fair on," says Sukanya Rajaratnam, a partner at Manhattan's Mnuchin Gallery and a 2012 holdout. But she was "blown away" by last year's "boutique atmosphere" and is bringing a dozen works on paper, bronzes and oil paintings by Willem de Kooning, including a 1983 painting selling for $8 million and a 1973 sculpture for $8.5 million.
Write to Mary M. Lane at mary.lane@wsj.com