Sperone Westwater, a 50-year-old New York gallery, closed at the end of 2025 amid a legal dispute between its two co-principals, Gian Enzo Sperone and Angela Westwater. Newly filed court documents reveal governance failures, financial disputes, and allegations of unpaid artists. The petition, filed in New York Supreme Court, seeks judicial dissolution of the corporation and appointment of a receiver, citing irreconcilable divisions and a breakdown in communication between the partners. Financial records show gallery revenue fell from $20 million in 2021 to $3.6 million in 2025, with losses in five of the past seven years.
This dispute matters because it exposes the fragility of long-standing gallery partnerships and raises serious questions about artist payment protections under New York law. The case highlights how internal deadlock and financial mismanagement can lead to sudden closures, affecting artists, consignors, and the broader art market. The outcome may set a precedent for how galleries handle dissolution and artist consignment funds, especially in high-profile New York institutions.