Art

The art world is in the midst of change. I know of three galleries that closed in the last month. Is it reeling from the lack of creativity at the galleries? Have the galleries expanded too fast and raised prices too high? Is it a new generation buying art differently? Have the endless events like Basel and Frieze changed the consumer? Is it the ability for the artist to connect directly to a collector through social media? More than likely it is a combination of all these questions.

I have met artists who have been hurt by gallerists pushing their prices into places they shouldn’t be. Many of those artists didn’t sell for years or watched their prices peak before tumbling back down to reality, although it had nothing to do with the work, just the price.

There are the gatekeepers just like all industries where we have seen more monopolies. The newest wave in the art world is a group of people helping the uber-wealthy collect pieces that are of museum value as another asset class for their families. There are also new agencies and individuals who help the artists get into museums, or specific collections or help with their PR, where this has been something that gallery has done in the past. Is the gallery becoming only a vessel for selling artists work?

I do believe that there will be some major shifts happening in the art space in the years to come. Art reflects the times, and perhaps what is happening now is an indication of the cultural shifts that are happening, including younger generations that are looking at art very differently than the generations before them.

Time will tell.