Art Market
Maxwell Rabb
Exterior view of Mazzoleni Gallery, London. Courtesy of Mazzoleni, London – Torino.
When the pandemic brought the world to a standstill, art galleries—like most businesses—found themselves at a crossroads. Since then, several of the repercussions from lockdowns have dissipated as the art market has returned to its in-person form. But there have also been lasting changes to collector behavior that have forced galleries to adapt.
One of these changes has been a significant move towards digital engagement in the art world. Artsy’s Collector Insights Report 2023 showed that 80% of respondents purchased art online in the past 12 months, up from 76% in 2022. On top of this increased digital engagement, galleries are actively learning how to approach their new customers, with 51% reporting that their online collectors are primarily new to their business, according to the Artsy’s Art Industry Trends Report 2023.
Installation view of “The Storm” at The Art Design Project. Photo by Nicolas Pinzon. Courtesy of The Art Design Project.
Local art markets are also facing headwinds that can impact any small business in uncertain economic times. Recent gallery closures in New York, such as Denny Gallery or JTT, highlight the challenges faced by galleries post-pandemic. And the broader landscape of engagement with art might be changing, too. Recent data from the Survey of Public Participation in the Arts (SPPA) revealed that, in 2022, the number of Americans visiting museums and galleries is slowing down, decreasing from 24% in 2017 to 18% in 2022. Given these challenges, galleries have had to adapt in recent years to the changes in foot traffic to brick-and-mortar spaces.
Luigi Mazzoleni of Italy’s Mazzoleni noted that in the last decade, he’s witnessed his gallery’s weekly attendance fall. Most collectors, he noted, prefer to attend art fairs over individual gallery spaces. In response, Mazzoleni has focused not just on participating in fairs, but also on collaborative and international projects—most recently, the gallery hosted a dual exhibition with Kukje Gallery, featuring the works of Agostino Bonalumi and Lee Seung Jio.
“High-quality curatorial projects that invite visitors to discover more about the artists presented are still essential to our gallery program,” Mazzoleni affirmed. “Looking to the future, we see collaborations, beyond the fairs, as a central point of focus and development.” This strategy goes beyond merely maintaining visitor numbers; it’s about enriching the visitor experience and reinforcing the gallery’s reputation for curatorial excellence.
Installation view of “The Storm” at The Art Design Project. Photo by Nicolas Pinzon. Courtesy of The Art Design Project.
Meanwhile, for Miami-based gallerist Juan Carlos Arcila-Duque of The Art Design Project, a physical location has become altogether unnecessary. In 2018, well before the pandemic, the gallerist embraced the digital revolution, shifting his Miami gallery to an entirely online presence. “The internet is a massive revolution,” Arcila-Duque said. “These artists that nobody knows appear next to the big ones and in a random order…It’s divine. That is, for me, magical—to give visibility to the artists.”
For Arcila-Duque, transitioning to fully online sales gives him the freedom to invest in new or emerging artists remotely. By moving online, his gallery adapted to a surge in artists who took their art online without gallery representation following the lockdowns worldwide. This strategic shift not only allowed for greater flexibility in showcasing diverse talents, but also positioned the gallery at the forefront of the evolving digital art market.
Exterior view of OCHI, Los Angeles. Courtesy of OCHI.
However, steadfast brick-and-mortar galleries across the globe learned to adapt to changing scenes. In Los Angeles, where foot traffic is perennially top-of-mind, Meghan Gordon, director of OCHI, spoke to the challenges of attracting visitors in a city as vast and culturally rich as Los Angeles. Still, she emphasized that the years since the pandemic are nothing short of ordinary.
“Foot traffic in L.A. is a constant conversation,” said Gordon, “We prefer not to advertise it, but it’s a challenge for most galleries. The energy shifts from one part of the city to another so quickly. I’ve been here for 12 years. The changes have been seismic.”
Over the last decade, Gordon noted that the cultural center of Los Angeles has moved several times—especially as more major galleries, such as David Zwiner or Hauser & Wirth, have opened locations in Melrose Hill and West Hollywood, respectively.
Installation view of “Deep Time,” Ben Sander, 2023. Courtesy of OCHI.
Still, strengthening gallery attendance in Los Angeles is increasingly difficult as local media outlets have cut their arts coverage, such as L.A. Weekly or the radio station KCRW. One major solution is direct community engagement. Gordon works on the board of the Los Angeles–based arts magazine X-TRA to help drive the local relationships between galleries and the press. This grassroots approach is particularly practical in Los Angeles, where personal connections and the gallery’s relevance to the local community are crucial factors in its success.
“When we receive editorial coverage for a show, the gallery traffic goes up,” Gordon said. “There’s a relationship between press and gallery traffic… and there is still a serious lack of coverage in the incredible programming that’s happening in Los Angeles.”
Installation view of “Echo of Picasso” at Almine Rech Tribeca. Photo by Thomas Barratt. Courtesy of Almine Rech.
Above all, community is essential to ensuring a gallery’s visitorship. After four major closures in downtown New York, Almine Rech opened its new location in Tribeca. Last month’s inauguration of the new gallery marked an exciting milestone for the team, as they hit a record in opening attendance.
“We have found that there is a renewed interest from our clients in attending our openings and visiting our exhibitions in person,” said Ethan Buchsbaum, senior director at Almine Rech New York. “The art business is a relationships business, and Covid closures created a very real desire to resume the types of traditional interactions that many collectors not only enjoy, but require, in order to make informed decisions.”
Exterior view of Nunu Fine Art, New York. Photo by Ana Teresa Barboza. Courtesy of Nunu Fine Art.
Other galleries across art hubs, including Bradley Ertaskiran in Montréal and Nunu Fine Art in New York, reported that in-person attendance has returned to robust pre-pandemic levels. However, since the initial 2020 lockdowns, such galleries have continued to incorporate innovative strategies, such as social outreach or tight-knit community building, amid a changing scene.
Jenny Mushkin Goldman, director of Nunu Fine Art New York, speaking on behalf of Nunu Hung, highlighted the significant differences in gallery culture from one city to another. She noted that cities like Taipei do not share the same gallery-hopping culture prevalent in places like New York City.
Installation view of “Never Odd or Even,” Julia Dault, 2023. Courtesy of Bradley Ertaskiran.
Bradley Ertaskiran, which opened just months before the pandemic lockdowns, swiftly recognized the potential for online platforms to complement their physical presence. Antoine Ertaskiran, the founder, saw the value in enhancing community engagement, too. He played a key role in initiating Gallery Weekend Canada, organized by the Association for Contemporary Galleries in Canada, to boost local foot traffic and build community.
“There is definitely a lot more focus on social media and how it helps our business,” Ertaskiran said. “We are definitely in the school of thought where people need to see art [in person]…. We were promoting the gallery through a lot of video documentation and stills from international fairs. That’s really how we kept growing and how we kept interest high.”
The art world’s evolution post-pandemic has led galleries to develop new methods of fostering community and collector engagement. Above all, these adaptations underscore galleries’ resilience amid an ever-changing new normal.
Maxwell Rabb
Maxwell Rabb is Artsy’s Staff Writer.
