Survival has replaced art fairs as the topic dealers discuss most when they meet in New York (how galleries are going to survive, or not, seems to be among the topics most on the minds of critics as well, as evidenced by recent offerings by Charlie Finch and Jerry Saltz to mention but a few). There are, of course, some universal business strategies to a downturn (cut your overhead, advertise more strategically, do more with less, etc.), but some of the responses I’ve heard dealers indicate they’re following are near opposites of each other, reflecting perhaps a personal philosophy about adversity more than any conventional wisdom to the best path to take. The following 4 categories summarize what seem to be the current thinking among the dealers I’ve spoken with in New York about how to respond to this extraordinary economic climate:
1. “Closing” (yes, in quotes)
2. Money shows instead of concept shows
3. No guts, no glory
Unquestionably galleries are closing in New York, but very few are reporting that the decision is related to the economy. If the outlook for the market were not so tough, I suspect the percentage of current closings might plausibly seem normal (partnerships do dissolve, dealers do move on to other interests, etc.), but given how U.S. businesses across the board are filing bankruptcy or going belly-up, it’s difficult to imagine financial difficulties haven’t contributed somewhat to the decisions to shutter their spaces.
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