When Art Fairs Take a Backseat and Clicks Outpace Crowds in the Gallery World

Rising costs and shifting collector habits are quietly redrawing the map of the global art gallery scene. While art fairs once reigned as the place to be, nearly half of galleries trimmed their budgets in 2023, with many cutting back on fair participation to stay afloat. Administrative costs and marketing spend also faced the chopping block, as galleries sought creative ways to weather economic headwinds. Discounts, often rumored to be everywhere, proved more selective than expected—most galleries offered them on less than half of their sales, and deep price cuts remained rare. Meanwhile, the spotlight has shifted to ultra-contemporary artists, especially those born after 1975, whose works—often priced under $10,000—are now the backbone of many gallery businesses. Perhaps the biggest plot twist: online marketplaces have overtaken art fairs as the top way for galleries to meet new clients, especially among larger players. The hybrid art world is here to stay, blending digital reach with the enduring appeal of in-person encounters. #ArtMarket2024 #GalleryTrends #ContemporaryArt #Culture