The Armory Show opened its 2024 edition in New York with solid sales during the VIP preview on September 4, providing a positive signal for the city's art market after a summer marked by gallery closures and economic uncertainty. The fair saw the return of over 20 galleries that had previously taken a hiatus, including Andrew Kreps, Uffner and Liu, Instituto de Visión, and White Cube for the first time since 1994. Fair director Kyla McMillan emphasized the importance of rooting the fair in New York and praised exhibitors for taking risks with experimental works, such as Nikita Gale's installation 'Interceptor' (2025), which sold for $60,000 before the preview began.
This edition matters because it serves as a bellwether for the broader art market, which has been soft with dealer sales at fairs dropping to 31% in 2024 from 42% in 2019. The return of major galleries and the willingness to show challenging, hard-to-sell work despite economic headwinds signal resilience and optimism among dealers. The fair's ability to attract tens of thousands of visitors and maintain influence amid a series of gallery closures—including Clearing, Venus Over Manhattan, and Blum—highlights its role in stabilizing the New York art scene and fostering collaboration during challenging times.