Art Market Monitor

Global Coverage ~ Unique Analysis

  • AMMpro
  • AMM Fantasy Collecting Game
  • Podcast
  • Contact Us

Death of a Newbury Street Gallery

March 3, 2012 by Marion Maneker

Boston dealer Victoria Munroe, who runs galleries on Newbury Street and in East Hampton, NY, is closing up shop in Boston leaving her local artists and local collectors one less outlet. Since the credit crisis began, 9 Boston galleries have packed it in, according to WBUR’s report.

That’s possibly far fewer than most expected but also evidence that the middle market remains—buffeted by high rents, the recession, competition from online dealers and art fairs—the most fragile place in the art world:

Sara Miller, an independent art adviser, will miss using Victoria Munroe Fine Art as a resource. One of her main clients is Boston architect and philanthropist Graham Gund. She manages his vast private collection.

“It’s a strange sort of art market out there,” Miller observed, “in the sense that it has been tough on the mid-range and down galleries.”

Meaning galleries like Victoria Munroe’s. “Blue chip” art, top-tier artists and the priciest galleries haven’t been battered by the economy in quite the same way, she said. […]

Miller explained how Victoria Munroe has helped feed collectors (and aspiring collectors) a diverse and steady diet of locally made art that doesn’t have a $1 million price tag.

How One Gallery Closing Affects the Art Market Food Chain (WBUR)

More from Art Market Monitor

  • Eskenazi Gets in on Frieze with Sculpture ShowEskenazi Gets in on Frieze with Sculpture Show
  • Brandeis Admits Mistake, Continues ConfusionBrandeis Admits Mistake, Continues Confusion
  • Bogged Down in Donor IntentBogged Down in Donor Intent
  • Action in the Old Masters Market in Unlikely Places Action in the Old Masters Market in Unlikely Places 
  • Sotheby’s NY January Old Master HighlightsSotheby’s NY January Old Master Highlights
  • Bacon Triptych Featured in Christie’s London SaleBacon Triptych Featured in Christie’s London Sale

Filed Under: Dealers

About Marion Maneker

LiveArt

Want to get Art Market Monitor‘s posts sent to you in our email? Sign up below by clicking on the Subscribe button.

  • About Us/ Contact
  • Podcast
  • AMMpro
  • Newsletter
  • FAQ

twitterfacebooksoundcloud
Privacy Policy
Terms & Conditions
California Privacy Rights
Do Not Sell My Personal Information
Advertise on Art Market Monitor
 

Loading Comments...