My enterprise is completely dependent on the financial and creative health of New York City’s galleries, particularly in Chelsea, where I lead the most tours.  So no one has paid more attention to the state of this neighborhood during the worst economic crisis of my lifetime.  Of course, I can’t ask galleries how they are doing money-wise, no matter how close our relationship.  But using one crude but telling barometer of financial health, namely the number of galleries that have shut down for good, I have to conclude that the Great Recession has had surprisingly little lasting impact on the gallery scene.  Chelsea houses the same number of galleries today—approximately 300—as when the recession began.

Yes, around 20 Chelsea galleries did fold over the last two years.  But even in the BEST of times a half dozen of them close every year, so the recent shutdowns are only a tad more pronounced than usual.  And in almost every case, a new gallery moved in quickly to fill the void.  Some galleries even expanded the size of their spaces, or the number of Chelsea spaces they occupy.

Of the 30 or so Chelsea galleries that have an outsized international reputation—Pace Gallery, Gagosian, Barbara Gladstone, Lehman Maupin, Mary Boone, David Zwirner, to name just a few—not a one of them closed down.  That’s not to say that their sales haven’t dropped (my guess is that they have).  But even if their profits have slid, you wouldn’t know it by the number of financially risky exhibits they continue to put up, in the form of cutting-edge computer art and enormous sculptural installations, some of which we will visit on my next Chelsea “Best Exhibits” tour on Sat. Oct. 9.

So, if not the giants, it is a handful of the small-to-medium-sized galleries that have closed down of late.  Some of them (I won’t mention names) IMPROVED the quality of art in Chelsea by ceasing to exist.  And then there are others I sorely miss, with Caren Golden Gallery at the top of that list.  Caren was a respected gallerist who showed exhibit after exhibit of fresh, topical work, but never managed to break into the pantheon of the higher-end galleries.  Margaret Thatcher Projects moved into Caren’s space soon after, and Margaret’s gallery has never looked better.  Another gallery whose departure I mourn is Bellwether.  Owner Becky Smith had a wonderful knack for introducing edgy young unknown artists into the light of day, and had a nurturing energy that was infectious.  I have a feeling she’ll be back some day.  In the meantime, Andrew Edlin Gallery seized the opportunity to upgrade to street-level digs by occupying Bellwether’s former space.  Charles Cowles finally retired after a decades-long run, and his gallery space on 24th St., on the toniest gallery strip in the city (I’d even say in the world), was taken over by Hasted Krautler, which has brought a terrific slant to large-scale contemporary photography.

To use an analogy, ecologists now believe that forest fires end up strengthening the health of woodlands, by providing opportunities for newer, more diverse growth.  Of course, it sucks when yours is one of the trees that burned.

We don’t know how the recession will play out, but there is the sense that the worst is over. If so, Chelsea ended up taking a hit, but maybe all for the better.  My own gallery tours, I’m relieved to say, have continued to maintain a steady growth, enabling me to invest in a beautifully overhauled website that is riding the social media wave.  This new blog section is just one result.  Heartfelt thanks to the hundreds of my clients who stuck by me, even as their pocketbooks shrank.  The recession led me to introduce many cost-saving promotions, including frequent tour cards—just a year old, and hugely popular—and I have more up my sleeve.  Look for my brand new promotion later this month, where you’ll get an even better deal on gallery tour admission by using Twitter.  We’re all going to get through this.

Rafael Risemberg, Ph.D.
Founder and Director
New York Gallery Tours