Kasmin and Clearing Galleries Announce Their Closures
The Decline of Art Galleries: A Closer Look at Recent Closures
The art world is currently witnessing a significant shift, marked by the sudden closure of prominent galleries such as Kasmin and Clearing. This trend signals not just the end of institutions but prompts a reevaluation of the sustainability and dynamics within the art market.
Kasmin Gallery, a staple in Manhattan for 35 years, has decided to close its doors. Founded by the late Paul Kasmin, it was home to renowned artists like Joel Shapiro and the estates of Jackson Pollock and William N. Copley. The gallery’s closure follows the transition of President Nicholas Olney and Head of Sales Eric Gleason into their venture, Olney Gleason. This new entity promises to adopt some artists from Kasmin’s roster, although specifics remain undisclosed.
Clearing Gallery, founded in 2011 and known for supporting emerging artists, also announced its closure. Spanning locations in New York City, Los Angeles, and Brussels, the gallery struggled to maintain its standards amid financial constraints. Founder Olivier Babin expressed the challenges in a public statement, signaling the broader market difficulties galleries face today.
These closures follow similar announcements from Blum Gallery in Los Angeles and Venus Over Manhattan in New York, which collectively emphasize a more volatile art market. Several factors contribute to this trend, including fluctuating auction sales and shifting market dynamics, echoing broader economic uncertainties.
This wave of closures not only affects artists and employees but also challenges the conventional gallery model. It pushes the art community to reflect on new models and strategies to keep art accessible and thriving in a changing economic landscape.
The art world’s evolution is inevitable, but how it adapts will define its future sustainability and inclusivity. Maintaining a delicate balance between commercial viability and artistic expression will be crucial in navigating this new era.