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Hello, and welcome to the March edition of The Gallerist,
your curated monthly roundup of the key topics and trends shaping the
art industry today.
It’s hard to believe we’re nearly at the halfway mark of March.
February was dense with art world activity—from Mexico City Art Week
and the India
Art Fair to L.A.
Art Week and Art
Dubai. For this month’s newsletter, we’re shifting
gears to focus on the secondary market. In the article below, we share
insights from leading dealers from London to Hong Kong on the secondary
market’s current state and its future direction.
In this edition, we also spotlight Galería Leyendecker, the
unassuming powerhouse of emerging art founded by Ángel Luis de la Cruz
and Lele H. Colomer in the Canary Islands. Plus, we share Artsy data on
the trending galleries from February—scroll to see which one takes the
top spot.
Until next time,
Maxwell Rabb
Staff Writer,
Artsy
Were you
forwarded this issue of The Gallerist? Subscribe to
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each month.
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Last year was a rocky one for the secondary market.
Sotheby’s, Christie’s, and Phillips—broad public barometers of the
market’s performance—all reported a dip in sales for 2023,
characterized by persistent economic uncertainty. In 2024, there are
more murmurs of positivity.
Three months into 2024, insights gathered from secondary-market dealers
highlight a nuanced picture. On one side, there’s a clear gravitation
towards well-established artists, seen as stable investments during
uncertain times. Conversely, a younger, digitally savvy demographic is
emerging. Read the article to learn more about the secondary market
from gallerists at Maddox
Gallery, Dumas
Limbach, Art
Mavens LLC, The
BlackWood Gallery, Seefood Room, and Raw Editions.
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Data Snapshot
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Trending Galleries on Artsy
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Growth in followers,
Jan.–Feb. 2024
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C L E A R I N G leads our data snapshot this month with
a 210% increase in followers on Artsy from January to February 2024.
This gallery has swiftly become a beacon in the art world, since
France-born Olivier
Babin first launched in Brooklyn in 2011. In January,
its recently expanded space in Los Angeles was inaugurated with a solo
exhibition from Artsy
Vanguard 2023–2024 alum Shota Nakamura. The gallery also had one
of Artsy’s favorite booths at Frieze Los Angeles.
Following closely is Paris’s Maāt Gallery, which just turned one year old
last month, showing a remarkable growth of 200% new followers from
January to February. The gallery was founded by Paul William,
the co-founder and former co-owner of NIL Gallery.
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“[The collectors] buy from you because they believe in
your work, and so when what they have bought from you grows in value,
they are loyal to you. You have to have that capacity and that quality
because it is the only way to compete with the large galleries. When
the pandemic arrived, being able to advertise on a portal like Artsy
ended the difference between a gallery in New York and a gallery in the
Canary Islands. All that remains is the quality of the work, and that
is where you can compete.”
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