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Dealers are the prime brokers of the art market. They are market makers, pairing their firm of artists with the collectors who will be best served by the work. They gather a distinctive supply of works from artists themselves, or acquire works they believe are undervalued in the secondary market. They shape the legacy of the artists and the objects they sell. Most identify artist's names, ideas and symbols, or some combination of these elements with their gallery's character to differentiate themselves from competitors \[1\]. The art and its presentation form the consumer-relation portion of the brand and the gallery's visible persona. A "hotshot" dealer encompasses the culture within the gallery as well as the client's perceptions of the company. Dealers who create a distinctive brand have a competitive advantage. By virtue of their reputation, they are better poised to attract supply and their assert authority over their collectors. These "hotshot" dealers are a select few industry leaders who are well branded and leverage their position to control the art market for certain artists work. |
Can "hotshot" dealers influence market patterns and tasteHotshot" Dealers Influence Market Patterns and Taste?
It remains unclear how forceful dealers, even the "hotshot", can be in the art world. Important galleries over the course of the past century, the Duveen Brothers, as well as the contemporary Gagosian and PaceWildenstein, have shaped the aesthetic favoritism of their clients by virtue of what they have offered for sale and how they have promoted it. The Duveen Brothers and others like them, show how a gallery can establish a cultural legacy. Gagosian and PaceWildenstein clarify how this power is evolving in the contemporary market. However, the long-term impact of their efforts has not yet settled.
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