The Armory Show's VIP preview day on Thursday saw long queues and a cautiously upbeat mood at the Javits Center, despite a shaky art market marked by gallery closures and fair cancellations. Dealers reported serious interest and solid sales, including a $1 million work at Galleria Lorcan O’Neill, a Kehinde Wiley painting for $265,000 at Sean Kelly, and a Kennedy Yanko sculpture for $150,000 at James Cohan. The highest-priced work, Alex Katz's 1962 painting *October 2*, was listed at $1.2 million but remained unsold. The fair attracted major collectors like Don and Mera Rubell and institutional figures such as Thelma Golden and Scott Rothkopf, with the Presents section for emerging galleries also seeing brisk sales.
This year's Armory Show matters because it serves as a key barometer for the art market's health after a difficult spring and summer. The strong turnout and reported sales suggest that while the market has slowed, serious demand and collector engagement persist, particularly in New York. The fair also marks the first edition fully shaped by director Kyla McMillan, with a revamped floor plan and curated programming that could influence future art fair models. The presence of both top collectors and museum leaders underscores the event's continued importance for networking and institutional acquisitions.