Independent art fair adjusts as market slows

The Independent art fair in New York, running until 11 May, features 85 exhibitors—its largest edition yet—with 26 solo debuts. Amid a slowing art market, galleries are adjusting pricing strategies, with a notable increase in works priced between $10,000 and $20,000, which now account for about one-third of offerings. Several galleries reported strong sales during the VIP preview, including Long Story Short selling six works by Keita Morimoto and Ricco Maresca Gallery selling out its vintage board game collection for a six-figure sum. Co-founder Elizabeth Dee noted that VIP registrations were up 30% year-over-year, and dealers like Charles Moffett deliberately chose established artists to match collector comfort levels.