May 20, 2025

The Art World

LONDON, ENGLAND – JUNE 09: A visitor looks at paintings hanging in The Weston Room at The Royal Academy Summer Exhibition on June 9, 2010 in London, England. The RA Summer exhibition is the world’s largest open submission contemporary art exhibition with 1267 exhibits selected from over 11,000 entries. (Photo by Peter Macdiarmid/Getty Images)

The art fairs hit NYC a few weeks ago: Frieze, Independent, NADA, 1-54, TEFAF, The Other Art Fair, Future Fair, and a few more. I did not get a chance to get to any of the shows except for the Independent although I certainly talked to many people about the shows.

The art fairs were exciting years ago. I met gallerists and saw artists’ work from all over the globe. Many benefited from these fairs, which cost the gallerist a pretty penny to participate. Then they have to set up a booth, fly in all the works, get them there and hung, and have someone sit in the booth for a few days. I am sure there is more costs that goes into it. I am starting to see some galleries stop participating and do less fairs, or only pick one.

Of course, there were the auctions, which left a few major items on the table this year. I noticed that many gallerists sold works but also bought a lot at auction, probably storing up for a rebound of the secondary market.

There are rumblings that nothing is being sold these days. Is it that the prices have been pushed so high that much is unobtainable? Is it the shuffling of artists vs new works? The entire art model needs a pivot from the galleries to the art auctions and art fairs. What should that look like? I am not sure anyone knows, which is why nothing has changed.

Years ago, I was in Uruguay and walked into a gallery with established artists, and the price points were out of my reach or desire. I spoke to the gallerist to see if there were other galleries in the area that worked with younger, up-and-coming artists. He told me to wait a second, and his team began bringing out various art pieces more in line with what I was drawn to. I bought two pieces. He nurtured young artists although that day they were all those pieces were hiding in the back. Most galleries do not do that but is that the model?

Gotham has an art gallery at our Chelsea store on the corner of 19th and 10th Avenue; we also have an art mezzanine at our Bowery Store on 3rd and Bowery. We will show young artists who do not have gallery representation at this point. Pieces that run from $500-3500, where our customers can hopefully find something they love and are drawn to, but don’t break their budget. My dream would that any artist we have a show with finds themselves with a nurturing and worthy gallery in their future.

I believe we are filling a void in the market for artists and collectors. The fairs and auctions feel tired, it is time for a shift in the way the art business is run. I am hoping we can be part of that shift.