French art galleries are reportedly struggling and suspicious financially, in a shaky art market.
A survey conducted by market researcher IDDEM in the Professional Committee on Art Gallery (CPGA) found that 85% of the 324 members of the French Gallery Association were pessimistic about the economic well-being of the art sector this year. This is a 6% drop in the 2024 French gallery mistakes, and the global art market has a total of 12% drop in the UBS art report every 2025.
“The market has returned to its 2010 levels and lost a decade of growth,” Philippe Charpentier, the gallery owner and new president of CPGA, told him. Lemondone in five French dealers also reported a decline in sales by more than 20%.
France also lacks the base of young return collectors in other countries, such as the Asian market.
“We have had difficulties in attracting young people, and in other countries, buyers are on average in the 30s,” Magda Danysz, vice president of CPGA, told him. Lemond. “French priorities have also changed; this is more important than the object.”
(In terms of the Asian art market, the Asian art market is based on the activity of Basel’s Hong Kong artworks and the stability of this year’s auction houses, even if unobtrusive.)
The relentless speed of the art fair calendar, coupled with the overall dull art market, has caused huge losses worldwide, with many of the mid-sized galleries such as Venus on Blum and Manhattan closing stores. Both sides pointed to the pressure to follow a more traditional model, Tim Blum of the gallery of the same name said on his departure: “It’s about the system.”
Blum added that the year has been reportedly becoming increasingly demanding for this expo, the vacancies, obligations and expectations.
In Manhattan, Venus’s Adam Lindemann was previously on Artnews In an interview: “Do you want to know the truth about the Fair Commission? They cheered and asked you to kneel down, wag your tail, beg for forgiveness.”
Although Basel’s expansion of artworks to Paris attracted attention to French cities three years ago, local galleries reported that they had seen an improvement. According to the survey, about 12% of French galleries have reported significant difficulties in the past 18 months, with several outstanding bankruptcy filings and expected closures.
“No new players after 2015 will be able to change the scale, internationalize or enter the fair system,” said Charpentier of CPGA. “In the long run, this has the potential to shrink the market, disrupt diversity and undermine our ability to push artists to the international stage.”
