BUSHWICK - Art Scene Adjusts...

The art world adjusts to the new economic climate...and as Chelsea galleries fight to stay alive, Bushwick galleries are learning to evolve with the times...which includes selling cheaper prints and hosting special events...

BushwickBK.com reports:

Bushwick Galleries Persevere in Tight Economy
by Aaron Short | February 9th, 2009

Flushing Avenue may well be scores of blocks away from Wall Street, but artists in North Brooklyn are experiencing the effects of the recession caused by the crash of the financial markets late last year.

With auction houses uptown shedding staff after grossly overestimating the value of works up for bid and several galleries in Chelsea struggling to sell work and closing altogether, the art world is coming to terms with how to operate in the coming months while the market may still be volatile.

“People see art as a luxury,” Marisa Sage, Director of Like The Spice, a gallery in Williamsburg, said. “People buy whenever they have money. If you don’t have money, you can’t eat and if you can’t eat, you can’t buy a painting.”

According to Sage and many of the gallery operators who participated in the Williamsburg Gallery Association’s Second Fridays last month, sales have been steady and they have been able to make rent payments. There was considerable anxiety about the market in the coming months, especially if patrons decide to cut their spending or if rents begin to increase this spring.

For galleries in Bushwick, finding the balance between selling art and paying the commercial rent is critical for survival. As the art market has slowed, some galleries are looking toward offering works at a more affordable price or expanding the use of their space for other programs...." (read more at BushwickBK.com)

-jmd, ad