Modern art gallery income slumps

Sales at the Netherlands’ modern art galleries fell 35% in the first three months of this year, the Dutch gallery association said on Wednesday.

More than 50% of all galleries report a down-turn in sales, the association was quoted as saying by the NRC. Nevertheless, most galleries will be able to weather the economic crisis, association chairman Guus Broos told the paper.
‘Galleries have few personnel costs and have built up substantial buffers over the last few golden years,’ Broos said.
The survey coincides with the latest edition of Art Amsterdam, the modern art fair launched as KunstRAI 25 years ago. In total, 120 galleries from the Netherlands and abroad have taken stands at the show.

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