There’s no question that contemporary art galleries are struggling these days. The market is sluggish, the essential handshake-based rules of the art trade are being confused by the proliferation of artworks on the internet, and, at the same time, competition for artists and a globalizing terrain are forcing dealers to take on more costs by doing fairs and upgrading their facilities. This summer, two darlings of New York’s Lower East Side art scene, the gallerists Lisa Cooley and Laurel Gitlen, had to close their doors. Other galleries are teetering on the verge of collapse as well. Dealers are wondering: what should they be doing differently?
To find out what solutions are at hand for dealers making their way through the choppy waters, Artspace editor-in-chief Andrew M. Goldstein spoke to Ed Winkleman about the alternative business strategies that are emerging for dealers, and why the market has irreversibly changed.