VIP Day at The Armory Show sees cautious optimism prevalent amidst moderate sales transactions

Art Market Thrives at The Armory Show 2023

The Armory Show, one of the world's premier art fairs, returned to New York City this week, attracting a diverse array of galleries and collectors. Over 230 galleries, including major players like Andrew Kreps and Esther Schipper, graced the Javits Center, marking their return after a hiatus.

The VIP preview started at 11am on Thursday, and queues stretched the length of the Javits Center's glass atrium, indicating a strong interest in the art market despite the challenges faced this year, including gallery closures, lawsuits, and fair cancellations.

One of the highlights of the fair was the participation of White Cube, a major gallery, for the first time in over a decade. Victoria Miro, another blue-chip gallery from London, dedicated most of its booth to diaristic en plein air portraits by Doron Langberg. Both the Metropolitan Museum of Art and the Whitney Museum had recently acquired pieces by Langberg.

Several galleries reported successful sales. James Cohan sold a Kennedy Yanko sculpture for $150,000, while Sean Kelly reported a Kehinde Wiley painting selling for $265,000. Saatchi Yates, in its Armory debut, brought a solo presentation by Tesfaye Urgessa, who represented Ethiopia in the 2024 Venice Biennale. Prices for the large-scale paintings ranged from $135,000 to $200,000.

However, not all works found immediate buyers. By the end of Thursday, a painting by an unnamed artist remained available at Peter Blum Gallery, though a third of the booth had already sold. David Blum, a director at the gallery, stated that there's still a hunger in the market.

Martha's, an Austin-based gallery, presented a suite of paintings by RF. Alvarez that blend Southern machismo with queer life. All but one had sold by the end of the day.

The art market's resilience was also evident in the prices offered at the fair. Galleria Lorcan O'Neill reported moving one work for $1 million, but did not specify which one. Peter Blum Gallery presented recent and historic Alex Katz works, with a tranquil 1962 oil painting, October 2, being the highest-priced work offered at the fair, listed at $1.2 million.

The fair also saw the debut of fifty-five galleries, about a quarter of the overall exhibitor list. Massey Klein, a gallery from Chinatown, sold the largest piece in its solo presentation by Kate McQuillen for more than $24,000 to a collector new to the gallery. Tang Contemporary said it had sold an Ai Weiwei "toilet paper" sculpture for $150,000 to $180,000.

Garth Greenan Gallery brought a cross-section of its program, including a Cannupa Hanska Luger's "sovereignty suit" listed at $175,000 and a large-scale hole-punch work from Howardena Pindell, priced at $875,000. Neither had sold at press time.

Secrist | Beach centered its booth on a 1,200-pound woven wall sculpture by Jacqueline Surdell, listed at $300,000. David Nolan and Marc Selwyn galleries presented a booth lined wall to wall with works on paper by names both canonical and current, from Andy Warhol to Robert Mapplethorpe. Prices ranged from $5,000 to $100,000.

Many attendees wore outfits ranging from traditional to full-dress fashion attire, adding an extra layer of glamour to the event. As the Armory Show continues, it promises to showcase the best of the contemporary art world, offering a vibrant and exciting experience for both collectors and art enthusiasts.