Niru Ratnam

The rise of the art fair – and the death of the small gallery

In the age of the ubiquitous art fair, traditional private galleries are becoming an expensive loss-leader

The sharp end of the art market: an Aleksandar Duravcevic sculpture at the Cologne Art Fair [Getty Images/Shutterstock/iStock/Alamy] 
issue 17 May 2014

In 1967, two Cologne-based gallerists came up with the Cologne Art Market — a trade fair where German galleries could set up temporary gallery-style spaces for a few days to showcase their stock. The following year, three dealers in Basel copied the idea but opened up their event to international galleries. For years these two art fairs were discrete yearly shows which were in the background to far more visible gallery exhibitions, museum shows and biennials.

Today there are hundreds of art fairs, with an explosion of these in the last few years. Last December 18 different art fairs took place in the same week in Miami alone. There are nine art fairs in New York this week. Next week there are art fairs in Hong Kong, San Francisco and Athens. Major gallerists end up doing more than ten fairs a year.

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