Art galleries are showing pessimism about rising fees and a lack of talent in France.

French art galleries are concerned. And they're making this known in the barometer published on Monday, July 14 by the Professional Committee of Art Galleries (CPGA), which has 324 members. According to the survey, conducted with the assistance of the polling firm Iddem, 85% of respondents said they were pessimistic about the economic health of their sector. This finding contradicts the trickle-down theory, according to which the establishment of Art Basel Paris and powerful foreign brands in the capital would have inevitably benefited less well-funded galleries.

In 2024, the overall turnover of French galleries will have fallen by an average of 6%. This may seem like a lesser evil when, at the same time, the art market as a whole has plummeted by 12%, according to the UBS Art Basel 2025 report. Except that a fifth of French dealers report a drop in activity of more than 20%. "The market is back to the level of 2010, with a decade of growth lost," summarizes gallery owner Philippe Charpentier, the new president of the CPGA.

However, at the same time, costs, particularly for participating in fairs, have skyrocketed. At the end of June, when announcing that he was closing his spaces after thirty years of activity, Californian gallery owner Tim Blum put it bluntly: 85% of his sales at the Basel Fair in Switzerland had been sealed in advance, starting with the sending of JPEGs. But between the cost of the stand, transport, and accommodation, participating in the fair cost him $45,000 (€38,500), putting a significant dent in his meager profits.

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