Art Palm Beach - A Boost to the Middle Market

Jan Sjostrun writing in the Palm Beach Daily News reports the recent Art Palm Beach contemporary art fair was a success..... for the middle market. Most of what we have been hearing in the past is only the top end of the market has been successful, and even that has been impacted in the contemporary sector.

Sjostrum reports Art Palm Beach saw fewer top level dealers attend, but crowds of 20,000 visiting the show and strong sales between the $5,000.00 and $50,000.00 levels. This is good news for the middle markets which has been nearly forgotten and greatly discounted by statements such as only the best is selling. I have been guilty of that as well, but when I see articles on the middle market, and its strength, I have to smile. The art fair was geared toward the middle market by the promoters, and if the reports are correct, the fair was a success for those middle market galleries, and less so for the upper end of the market at the fair.

Sjostrum reports

The Lesters founded the fair 13 years ago, and they're veteran fair organizers. But they haven't organized a contemporary fair in this market since they sold their Palm Beach fairs to dmg world media in 2001. The couple reacquired the fairs from dmg last year.

"We have a lot to learn," David Lester said. "We're not doing it the same old way."

As he sees it, he and his wife are reinventing the fair to keep up with changing market conditions. They plan to lure the next generation of collectors with fresh galleries from around the world selling art at affordable prices.

Seasoned collectors were underwhelmed. Palm Beach collector Dale Anderson praised the revamped layout, the strong lecture series and Colombian artist Federico Uribe's sprawling sneaker-parts installation at the rear of the fair. But "it was an awful lot of icing and very little cake," she said.

Many good dealers that exhibited in the past weren't there, West Palm Beach collector Elayne Mordes said.

Upper-tier exhibitors also noted the scarcity of top galleries. Sales improved over last year, said Bjorn Wetterling of Wetterling Gallery. But "I'd like to see more blue-chip galleries," he said.

Palm Beach exhibitor Ellen Liman said her moderately priced paintings were selling well.

"At $15,000, a collector can enjoy something and not worry if it's an asset class," she said.

Fiber art dealer Browngrotta Arts reported consistent sales, but "like everyone else, the highest-end pieces are not going," director Tom Grotta said.

To read the full article, click HERE.