London Gallery Weekend (LGW) kicked off on June 4 with a salon-style conversation among dealers Thaddaeus Ropac, Kate MacGarry, and Emma Hodgson, moderated by Melanie Gerlis. The panel discussed London's position as the second-largest art market hub after New York, with the UK accounting for 18% of the global art market according to the Art Basel & UBS report. Topics included post-Brexit challenges, rising costs, the exodus of wealthy collectors to Milan, Dubai, and Australia, and the evolving role of art fairs versus physical gallery spaces. Nine first-time participants joined LGW this year, including younger galleries like Pale Horse, DES BAINS, General Assembly, Matt Carey-Williams, NORITO, piloto pardo, and TINA.
The conversation matters because it captures the current temperature of London's art market amid significant shifts: Brexit-related overheads, collector migration, and the need to recalibrate the relationship between commercial galleries and art fairs. The panel highlighted that London's strength lies not just in commerce but in its concentration of international artists and institutions. Ropac emphasized that art fairs should drive people back into galleries, while initiatives like LGW foster community and dialogue among dealers. The discussion also exposed a persistent lack of coordination between London's commercial and institutional sectors, suggesting that better alignment could strengthen the city's art calendar and global standing.