There are a dozen or so contemporary art and design fairs all over the city this weekend—Cutlog, Fridge, Pulse, Pool, and NADA, to name a few—but the biggest and richest by far is Frieze, once again pitching its massive white tent on Randall's Island. Featuring works brought in from more than 190 galleries worldwide, Frieze is an unabashed spectacle of art and commerce, as well as being a people-watchers' paradise.

We roamed the aisles all afternoon on preview day, mingling with artists, hangers-on, curators, gallery drones, and many, many fantastically wealthy people who spent an amazing amount of money snapping up an dizzying amount of art in just a few hours. See photo captions for a sampling of what this stuff costs these days.

In addition to buying art and gawking at outfits, you can also eat at Frieze, and eat well. Vendors this year include Roberta's, Fat Radish, Mission Cantina (with Bowien's now infamous burritos), Frankies Spuntino (with outdoor beer garden) and their Japanese spin-off Furanku, Momofuku Milk Bar, Court Street Grocers, and Blue Bottle Coffee. There are also special Frieze Talks and Frieze Projects going on all weekend.

Tickets for Frieze are $43, $27 for students, and the fair is open from 11 a.m. to 7 p.m., Friday, Saturday, and Sunday, and from 11 a.m. until 6 p.m. on Monday. The ferry from 34th Street is kind of pricey ($19 round trip), but if you can swing it, that's the easiest way to get out there.