But Peters, arguably Santa Fe’s most successful art dealer, with considerable holdings in real estate, restaurants and banking, said Santa Fe has never been an international art market and isn’t likely to become one in the future.
“The bloom is off Santa Fe a little,” he said through a spokeswoman. “It isn’t as popular as it once was. Santa Fe took its tourists for granted, while other communities became more attentive and competitive.”
As for art, Peters — who began dealing in works by Georgia O’Keeffe more than 40 years ago, and now handles a stable of historic and contemporary artists from the largest gallery in Santa Fe plus another in New York City — predicted Santa Fe’s future will see fewer galleries.
“The gallery model does not work as well as it used to because the marketplace has changed with auction houses and the Internet playing expanded roles,” he said. “At the same time, there is a generational shift in taste.”
Bloom or Bust? Jury’s out on state of Santa Fe art market (Santa Fe New Mexican)