Forget opening galleries in far-flung territories—globalisation is benefiting the traditional hubs
by Melanie Gerlis | 14 October 2015
(via The Art Newspaper)
Global financial hubs: London and New York remain the go-to cities for the art world
Although international galleries have spent the past decade wooing collectors in far-flung countries, opening spaces in Asia in particular, the next set of moves will result in an even greater concentration of the market in its two traditional hubs: London and New York.
London’s White Cube (FL, D4) is looking for office space in New York to “service its international client base”, a spokeswoman for the gallery confirms. Peter Brandt, who was the co-director of its space in São Paulo until it closed in August, could soon be spending more time in Manhattan. The Paris- and Salzburg-based dealer Thaddaeus Ropac (FL, A5) is known to be looking for a space in London, having originally considered opening in Istanbul. The Cape Town- and Johannesburg-based dealer Liza Essers of Goodman Gallery (FL, A17; FM, G17) is also seeking a space in London. London-based Lisson Gallery (FL, B5; FM, E7) is due to open a huge space in New York next year, while Hauser & Wirth (FL, D6; FM, D1) plans to upgrade to a new five-storey building in New York in 2018.