Shortcomings of the Traditional Art Gallery Business Model

Learn what the shortcomings of the traditional art gallery model are and what changes to the model are starting to be made by some pioneering art galleries.

The traditional gallery business model does not work as well today as it did in the past. Buyers’ mind-sets have changed and so have their expectations for doing business. Gallery profit margins are low; at times a gallery lives in the red. Today, we are seeing art galleries either close their doors forever or trying to change the way they do business. Running a successful art gallery can be done with an updated business model. So what will your gallery business model look like in the future?