The art of a recession: Gallery owners strugglingPosted: Updated:
SCOTTSDALE, Ariz. (AP) -- Art gallery owners across the country are finding they have a tough sell these days.
With houses going up for auction, unemployment continuing to rise and the threat of layoffs seemingly ever-present, many gallery owners are closing shop, going broke to stay open or drastically changing the way they do business.
In the gallery district of downtown Scottsdale, at least a half dozen galleries have closed in the past year or are in the midst of closing.
In the past two years, at least 24 galleries have closed in Manhattan, mostly in Chelsea, according to New York City-based Artnet magazine, which covers the fine art world.
In Santa Fe, N.M., between 10 and 15 galleries have closed this year.
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