"Then there is the art-fair conundrum, in which some galleries are damned if they do and damned if they don't. Art fairs are expensive, but if you don't show up, you'll never get lucky and make that sale or meet that new client who could make your entire year. If you really think galleries are all cashing in and selling out at these events, though, you are out of touch. (For 14 years, my gallery exhibited in many art fairs.)"
"Try doing the math on Miami Basel week last December. Art Basel had about 280 galleries, Art Miami 160, Untitled 160, NADA 140 and Scope 100. That comes to around 840 galleries. Now, if we figure that each gallery brought an average of 25 works, that gets us to 21,000 pieces that were insured, crated, forklifted into massive tents or convention centers, and then hung on the walls by teams of handlers. And that is just one week of many."
Global art supply has expanded while demand has softened, creating price pressure and gallery strain. Many galleries have closed, yet numerous others continue operating despite market stress. Participation in art fairs presents a dilemma: high costs but potential for transformative sales or client relationships. Major fair weeks concentrate hundreds of galleries and tens of thousands of works, requiring extensive insurance, crating, transport and installation. Collectors are generally satiated and less acquisitive, so sales have slowed. Art collecting remains a passionate indulgence for some buyers who persist despite market signals, but those collectors are exceptions.
Read at Artnet News
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