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The financialization of art has led to the emergence of large galleries (those with sales figures over 50 million dollars, who have a 30% profit margin, whose yields are significant). These galleries represent the most successful artists, those whose pieces best match market expectations. But behind the term “market” lies a reality: collectors.
Yet, without descending into a caricature of “nouveau riche”, those collectors with massive budgets are not always the best suited for judging the inherent quality of works of art. For example, they automatically gravitate to sensational pieces, to the detriment of conceptual pieces which are less accessible.
As a result, two parallel paths begin to materialize; one for established artists who are closely connected to the market and another for young or institutional artists with ties to museums.
Art galleries that have evolved into businesses have the tendency to represent artists developing in the first category. This kind of artist can often be found in places like the International Contemporary Art Fair (ICAF), Art Basel or other fairs where they make, according to the 2017 ArtPrice report, 46% of their sales.
All of this may lead to the emergence of a counter power. Stéphane Corréard wanted to create not a market but a “venue,” for those who do not recognize themselves in this hegemonic model.
They are “Gallery owners” of Carreau du Temple, whose third edition just ended. The project was created under the guidance of filmmaker Béla Rarr who said, “We are many and yet we are few”.
Corréard elaborates on this statement,
“We are only a few yet perhaps we are still the majority, always experiencing our passion for art as a total, vital commitment. That may be what brings us together: artists, of course, but also gallery owners, collectors and other contemporary art lovers. We distance ourselves from the excesses and scandals of a highly speculative and financialized art market which has lost sight of its original mission: financing vibrant creation in all its diversity and contributing to the existence of a balanced ecosystem where everyone can find their place”.
In collaboration with many collectors and artists, “gallery owners” have also defined a set of criteria for evaluating the professionalism of galleries: loyalty to artists, commitment to their success, ethics, accessibility to the public, provision of services to collectors and more.
