” […] And in the art world, things were already rocky for those not at the top of the food chain. Numerous galleries were reporting being financially strapped by skyrocketing costs and paying to participate in (keep up with?) endless art fairs, always flying to biennials and exhibitions around the world. Artists were leaving smaller galleries in droves for megagalleries. COVID-19 has multiplied this a hundredfold. Most galleries don’t have cash reserves to go through a lockdown of six months. Or to open and then go through it again in the fall and winter should the virus return. The Wall Street Journal reported that many performing organizations don’t have the reserves to go more than a month. The majority of galleries aren’t much more prepared. These galleries will close. Employees are already laid off across the gallery world. If the stimulus doesn’t include art-world provisions against evictions, short-term rent abatements and checks from the government, Chang’s 90 percent of restaurants closing could be exacted on galleries, the primary delivery vehicle of contemporary art. […] ”

FULL ARTICLE:

https://www.vulture.com/2020/04/how-the-coronavirus-will-transform-the-art-world.html