Why the Art Gallery System Is Flawed
Determining the economics of today’s art gallery system in the Western World can be quite difficult for the uninitiated. It’s crucial to remember that most, if not all, primary art sales take place in art galleries. When we talk about primary art sales, we refer to art being sold directly by the artist and not […]
Art and Money Series Part. 2: Why It’s Complicated
“I always loved swimming pools, all the wiggly lines they make,” said David Hockney, the author of a painting “Portrait of an Artist (Pool with Two Figures)” that set the record for a work by a living artist sold atauction. “If you photograph them (swimming pools), it freezes them whereas if you use paint, you […]
Witnessing the Painful Fall of the Art Gallery Business
In just the past few years, we’ve heard about more and more galleries closing across many cities around the world. After 22 years, L.A.’s ACMA Gallery shut its doors abruptly with little explanation. London’s Limoncello announced its closure in 2017, citing, “The numbers didn’t add up”. And closing in August 2018, New York’s Envoy Enterprises […]
Auction to Private Art Sales: Art Market Power Shift
There has been a noteworthy power shift in high-end art market eco-system in the recent time. Auction house that has been an unshakable power base to headline-making top-end of the art market throughout the post-war era to the recent decades, no longer seems to be a flag bearer of the highly lucrative secondary art market. […]