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Eyes Wide Open! Kenny Schachter Dishes on Delinquent Dealers, Secret Deals, and That Other ‘Salvator Mundi’

Kenny Schachter offers a sardonic, first-person account of the spring 2025 art season in New York, weaving together observations from auctions, art fairs, and gallery openings. He notes brisk business at Sotheby's and Phillips, citing specific sales like James Ensor's tiny "Still life with Stingray" ($140,800) and Georgia O'Keeffe's double-sided "Maple Leaves and Flowering Cactus" ($1.68 million). Schachter also recounts his experience at Larry Gagosian's new Madison Avenue gallery, where security guards outnumbered the artworks, and reflects on the broader economic climate, including a tax lawyer moonlighting as a 3-D printer for his own sculpture project. He contrasts the wealthiest collectors—one driving a Lamborghini but staying at a Holiday Inn Express—with dealers wearing grim faces at TEFAF, painting a picture of a bifurcated art economy.

For young dealers, being in New York is key to surviving and thriving

The article examines how young art dealers in New York are adapting to the city's high costs and competitive market during the May art season. It highlights galleries like Europa, Esther, and Gordon Robichaux participating in multiple fairs simultaneously, such as Frieze New York and Independent New York, to maximize sales and visibility. Dealers like Pali Kashi and Silke Lindner emphasize strategic resourcefulness, with some sales already covering fair costs, while referencing artist Josh Kline's essay on how real estate pressures stifle artistic risk-taking.

What Does a Booth Cost at a New York Art Fair?

Hyperallergic surveyed 13 New York art fairs about their booth pricing, revealing a wide range of costs from $3,500 at NADA Projects to over $105,000 for large booths at Frieze. The article details specific pricing tiers at Frieze ($31,977–$105,717), NADA ($3,500–$11,000), and Independent ($110 per square foot), noting that Frieze has kept 2025 prices for its 2026 edition and that NADA's costs have remained stable since 2022. The investigation also highlights the debut of the Sherman Family Foundation Acquisition Fund at Frieze and the partnership between Independent and the Henry Street Settlement.

Dealers Face a Choice: Show Solo Artists? Or Groups?

Art dealers are weighing the strategic decision of whether to present solo artist booths or group shows at art fairs. Solo booths allow visitors to focus deeply on a single artist's work, avoiding the sensory overload of multiple artists, while group booths offer variety and broader market appeal. The choice often varies depending on the fair and the dealer's goals.