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.
This article matters because it provides an insider's unfiltered take on the current state of the art market, blending market data with cultural commentary. Schachter's critique of the New York Times and his musings on "microlooting" frame the art world within larger societal trends of inequality and corporate power. The piece captures the tension between robust auction results and the struggles of smaller dealers, offering a nuanced view of an industry navigating economic uncertainty. It also highlights the enduring appeal of small-scale masterpieces and the performative nature of high-end gallery experiences.