While the closure of historic spaces makes headlines, many businesses choose the path of expansion. New data reveals that the art market is undergoing a profound metamorphosis. Strategic openings in major cultural capitals are indeed redefining the geography of collecting worldwide.
The growth of new art galleries beyond closures
A survey of the specialized press contained in the prestigious The Art Basel and UBS Art Market Report highlights a surprising scenario for 2025. Of the 205 galleries analyzed that have changed their structure, the share of launches far exceeds that of closures.
| Type of business change (2025) | Number of new art galleries | Percentage of the sample |
| New businesses or additional branches | 85 | 42% |
| Permanent closures | 51 | 25% |
Why does London remain the hub of new openings?
Moreover, the capital of the United Kingdom firmly retains its role as the second global market thanks to the strength of its industry. In the past 18 months, about two dozen exhibition spaces have opened or expanded their locations. Of these, 17 will participate in the sixth edition of the London Gallery Weekend, scheduled from June 5 to 7.
That said, the attraction to the English metropolis remains intact thanks to the convergence of Asian and American investors. Indian-origin gallerist Sundaram Tagore has fulfilled the dream of opening a flagship store in St. James’s, on Pall Mall. The May event attracted over 500 qualified guests.
However, the investment requires visibility and continuity to offset high operating costs. Tagore, already present in New York since 2000 and in Singapore, focuses on a tight schedule of 12 exhibitions in two years. The calendar includes eight solo and four group shows, aimed at attracting a constant flow of collectors.
The major maneuvers in the Mayfair and Clerkenwell district
London’s vibrancy involves numerous internationally renowned players. For example, Lehmann Maupin has opened a permanent location at number 9 Cork Street, in Mayfair. Meanwhile, Edmondo di Robilant and Marco Voena, founders of Robilant+Voena, have taken different paths creating two distinct commercial entities.
Additionally, in the eastern part of the city, Emalin is moving its headquarters to Clerkenwell, on Helmet Row. The gallery will still maintain the original Shoreditch space as a secondary location. This agile approach reflects the desire to consolidate presence in the area without abandoning its creative roots.
Overall, the expansion enriches the network of art galleries in St. James’s with the arrival of Edel Assanti. Although the Fitzrovia location hosts four major exhibitions annually, co-founder Jeremy Epstein explains that the new space will allow artists more intimate and experimental presentations compared to large halls.
What are the growth trends in Europe and the United States?
The push for expansion is not limited to British borders. Last fall, the consulting firm Pierre Cornette de Saint Cyr opened a location in Paris. Subsequently, the gallery Waddington Custot opened a Parisian branch in April of this year, strengthening ties with the continent.
In Switzerland, the historic Galerie Urs Meile unveiled a new exhibition space in Zurich. Meanwhile, in Asia, the European collaboration Meyer Riegger Wolff has established itself in Seoul. These decisions confirm that the art market continues to expand wherever there are targeted investment opportunities.
The resilience of New York and the Asian routes
Across the Atlantic, data from the platform Artwrld confirms a solid trend for New York. Of 76 galleries surveyed, 47% have expanded their activity compared to 20 closures. Among these, Planthouse has moved from NoMad to Chelsea, in a space of 111 square meters.
However, Chelsea also attracts significant Asian entities, including Silverlens and Kiang Malingue. At the same time, there is strong inter-Asian integration. An example is the activity of gdm from Hong Kong, which celebrated its fiftieth anniversary in 2024 by opening a location in Taipei.
How do dealers face economic challenges?
However, gallerists maintain a cautious approach to counter rising operating costs and shrinking consumer spending. Many businesses choose to reduce the fixed costs of physical locations, preferring instead to increase participation in international art fairs to diversify their market outlets.
That said, the sector demonstrates exceptional stability compared to other commercial industries. More than 50% of galleries boast over twenty years of market activity. This figure compares favorably with the 25% recorded in the United States and 18% in the United Kingdom.
In conclusion, this extraordinary longevity will be the focus of a debate organized during the Swiss fair Art Basel. The meeting will offer valuable insights into the future of a sector that continues to bet on new spaces and cultural projects.
As expert in digital marketing, Amelia began working in the fintech sector in 2014 after writing her thesis on Bitcoin technology. Previously author for several international crypto-related magazines and CMO at Eidoo. She is now the co-founder and editor-in-chief of The Cryptonomist and Econique.
She is also a marketing teacher at Digital Coach in Milan and she published a book about NFTs for the Italian publishing house Mondadori, while she is also helping artists and company to entering in the sector. As advisor, Amelia is also involved in metaverse-related project such as The Nemesis and OVER.
