From Magnus Resch’s study of art galleries, we learned that most dealers make very little money. Yet the ones that do may only need a handful of clients to pay the bills … and then some.

James Tarmy got this from Michele Maccarone:

Maccarone estimates that currently her gallery has about 10 hyper-involved collectors, an additional 40 to 50 occasional clients, and then 100 or so buyers “who buy something once,” she says. “That might sound small, but what I do is very specific. How much of this very expensive thing can someone buy?”

Meet the Art Dealer to Billionaires Who’s Making Collecting Cool Again (Bloomberg)