Fair Exchange was a project initiated by No Clients and commissioned by the National Gallery of Victoria for the 2019 Melbourne Art Book Fair. Attendees of the fair were invited to bring along a book to trade in exchange for a selection of books accumulated from other participating stalls and the NGV bookstore.

The project aimed to highlight the value and non-value of books and also explore the distribution of books as not only art or objects, but as forms of currency. Emile Zile, Danielle Reynolds and Erick Mitsak were invited to be the official appraisers of Fair Exchange, deciding whether to approve or reject trades while determining the varying market conditions at play and the eventual market crash that happened in the last 30 minutes of trading resulting in all the books being given away for free.