Some signals can guess the market atmosphere of the art market, but among them, signs always appear at the end. It is the entry of amateurs into the art market. As if in the stock market, ordinary people who used to do things that had nothing to do with art open galleries or plan exhibitions. Of course, some people are severe and prepared for a long time in the meantime, so don't misunderstand. And art is open to everyone, and there is no certificate system so anyone can enter. However, it is an unwritten rule that no one can succeed. It is almost impossible even to maintain some degree, let alone achieve.
It was always like that. When the market situation is excellent, many amateur writers appear. Celebrity artists are a representative example; even those who go to the studio as a hobby can submit exhibitions or art fairs, fueling the market. When the market's high tax is slightly dampened, and the end is over, an amateur gallery director appears. Opening a gallery is easy for anyone who takes over a cash-strapped gallery or owns a small property. The gallery opening is simple. All you have to do is create a white cube space and open an exhibition of artists thirsty for show. There is no need for great interior or kitchen facilities such as restaurants and cafes, so it costs less. But now is the problem. Canned galleries with only empty spaces are rarely eaten in the art world. Since successful artists do not exhibit in these places, they naturally have no choice but to deal with new artists. Still, selling low-priced works is even more challenging because ordinary people do not open their wallets when the economy is not good. Although they are exhibiting hard, their results are not sold, and it isn't easy to invite good artists. It lasts for months or years and eventually goes into debt and disappears. This natural phenomenon always happens with the economic cycle, so there is no need to say good or bad. Entering the art market itself is not difficult. Still, it is an extraordinary and challenging business world that can survive only by recognizing that it is hard to sustain, and only those who know and thoroughly prepare for this will succeed in the next upward cycle.
Not long ago, it was reported that the JTT Gallery in New York would be closed. The gallery has produced many good writers while running the gallery for more than a decade in Lower East Side. He also participated in Art Basel and Freeze Art Fair and recently expanded the gallery to Tribeca. Founded in 2011 by Jasmin T. Tsou, the gallery has grown from a small gallery to a medium gallery with calm and experimental severe exhibitions. The director majored in art, taught later studies at the university, and worked in other galleries before opening her gallery.
Nevertheless, it ended up closing. The Zeno X Gallery in Antwerp and the Simon Lee Gallery in London have closed recently. If the opening and closure news had been reported in Art News, these galleries must have been somewhat important in the art world. But it ended up closing.
If you cannot estimate the preparation required for the gallery's operation, refer to the above cases. Expertise, degrees (in terms of learning), and equivalent practical experience are essential, and sufficient and planned financial power that can be operated without income for many years is necessary. In addition to having a variety of good collections, it takes at least six years to wait to sell the collection. Not only is it impossible to make a profit in a short period, but if the work is released within a few years of purchasing it to make a profit, it can seem like an amateur who lacks an understanding of the art market. In addition, the exhibition schedule should be organized for the next few years, and new artists should be discovered and introduced to the art world. In short, it is the standard to grow up showing good performance step by step, and the primary conditions to prepare to achieve this are very high.
On the other hand, some places are preparing for the next cycle by expanding gallery space or increasing spending when the market atmosphere is stagnant. Hollys Taggart in Chelsea is said to be expanding its gallery recently. Despite concerns about a market slowdown, he wants to solidify his position at Chelsea. Taggart, who had been operating space on 521 West 26th Street for nine years since relocating from the Upper East Side in 2015, is said to have always had a "fantasy" about expanding to other sections of the Chelsea building near the High Line. Extensive galleries such as Pace and David Zwirner are all moving to secure Chelsea properties now based on their properties in Chelsea.
In this volatile market situation, someone disappears, and someone expands.