"As was seen in the latest November sales series in New York, while the more speculative young contemporary market has softened in the face of increasing uncertainty across the board, the market for blue chip 20th century works is bullish for the right material. Many of the big contemporary galleries have also been adding artist estates to their roster in the past few years, adding depth and breadth to their offering."
"Against a backdrop of multiple gallery closures worldwide this year, the formation of PDS also speaks to a consolidation within the trade, and a chance to spread the load of considerable overheads while also sharing knowledge and contacts. PDS will operate out of a new headquarters in Manhattan's Upper East Side, with Pace Gallery, Emmanuel Di Donna, and David Schrader as equal partners."
"The new business will begin operations early next year and from summer 2026 Emmanuel Di Donna, the founder of Di Donna Galleries, and his team will expand to the new PDS Upper East Side headquarters. Di Donna, who opened his own gallery in 2010 after holding the role of vice chairman of impressionist and modern art Sotheby's, is well established in the field of Surrealist, Modern, and post-war art."
Pace Gallery, Emmanuel Di Donna and David Schrader will launch Pace Di Donna Schrader Galleries (PDS), a specialist secondary-market sales business headquartered on Manhattan's Upper East Side. The joint venture reflects market shifts: speculative young-contemporary sales have softened while blue-chip 20th-century works remain in demand, and many contemporary galleries have been adding artist estates. PDS forms amid global gallery closures and trade consolidation, aiming to share overheads, knowledge and contacts. PDS will operate as equal partners and leverage Pace's global spaces and resources. Operations begin early next year, with Di Donna and his team relocating in summer 2026.
Read at The Art Newspaper - International art news and events
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