Art News. Vasari Codex

trending_up market schedule Apr 23, 2025 visibility 18 link 10 artists, 8 galleries

in london sadie coles expands amid stark drop in profits

Sadie Coles, a prominent London contemporary art gallery, announced plans to open a new 6,000-square-foot location in Mayfair this fall, despite reporting a steep 46 percent drop in revenue for 2024, from £52.3 million to £28.3 million. Pre-tax profits plunged 93 percent to £400,000, down from £5.5 million the prior year. Coles attributed the downturn to a slowdown at the high end of the art market, but noted the gallery carries no debt and has seen a 20 percent increase in total assets over five years, growing from £23.9 million to £28.8 million.

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trending_up market schedule Apr 8, 2026 visibility 24 link 3 artists, 1 gallery

The Hole Gallery Sued Over Unpaid Back Rent

The Hole, a prominent contemporary art gallery founded by Kathy Grayson, has shuttered its West Hollywood location amid a wave of legal and financial troubles. Court filings reveal that the gallery faces multiple lawsuits for unpaid rent and real estate taxes across its Los Angeles and Manhattan outposts, with debts totaling over $180,000. Beyond real estate disputes, the gallery has been dogged by allegations of financial instability and delinquent payments to artists, including a 2019 lawsuit from artist Dan Lam regarding unpaid sales and damaged works.

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trending_up market schedule Feb 4, 2026 visibility 21 link 1 artist, 3 galleries

Stephen Friedman Gallery goes into administration after 30 years

Stephen Friedman Gallery, a prominent London-based contemporary art gallery, has entered administration and closed its doors after 30 years in business. The gallery had recently expanded, opening a new space in New York and moving to larger premises in London, but financial strain from construction costs, rent, and a downturn in the art market led to its collapse. The gallery's closure was confirmed just as Art Basel Qatar opened, where its planned solo booth was taken over by the represented artist's estate and another gallery.

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trending_up market schedule Aug 15, 2025 visibility 16 link 6 artists, 2 galleries

The Slow Death of the Contemporary Art Gallery

The article reports on the decline of the traditional contemporary art gallery model, driven by rising rents, changing collector behavior, and the rise of new artist categories. Tim Blum closed his Blum & Poe galleries in Los Angeles and Tokyo, citing systemic issues rather than market conditions. Art Basel and UBS data show the art market shrank overall but the number of sales increased, indicating a shift toward mid-priced works. Collectors are moving away from "blue-chip" artists toward "red-chip" artists who gain value through viral hype and cultural relevance, exemplified by Olaolu Slawn's accessible solo show at Saatchi Yates. Celebrities like actor Adrien Brody are also entering the market, though his work has been criticized as derivative. Meanwhile, smaller galleries like Tiwa Gallery, Landdd, and Marta are thriving by focusing on genuine connection, and retail spaces like Gentle Monster and Dover Street Market are blending art with commerce.

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trending_up market schedule Apr 22, 2025 visibility 20 link 6 galleries

air de paris gallery withdrawal art basel switzerland

Air de Paris, a leading French contemporary art gallery, has withdrawn from the 2025 edition of Art Basel in Switzerland after a dispute over booth placement. The gallery was offered a less desirable second-row spot (N3) despite its long history of prime placement (L23) on the second floor. Cofounders Florence Bonnefous and Edouard Merino described the allocation process as "brutal and unfair" in a letter to the fair, which was circulated online. Art Basel defended its decision, stating that placement is at its sole discretion and made in consideration of all 290 participating galleries.

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trending_up market schedule Apr 6, 2026 visibility 16 link 2 galleries

Rory J Browne | Dawn, Cow Parsley (2026) | Available for Sale

British artist Rory J Browne has released a new contemporary realist landscape titled 'Dawn, Cow Parsley' (2026). The oil-on-canvas work, which features a detailed foreground of wild plants silhouetted against a warm, atmospheric sunrise, is currently being offered for sale through Signet Contemporary Art in London and via the Artsy platform.

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