March 7, 2018
New York – Athena Art Finance Corporation’s CEO, Andrea Danese, participated in talk at The Armory Show, where he joined an expert panel to discuss Consolidation and Innovation: The Future of the Gallery Model. The panel discussion examined how the art market at large can help support mid-level galleries.
The panel discussion was moderated by James Tarmy, Art Market Writer, Bloomberg, and also featured panelists Marguerite Hoffman, Collector;
Marianne Boesky, Owner and Founder, Marianne Boesky Gallery;
Wendy Olsoff, Cofounder, P.P.O.W Gallery; and Evan C. Beard, National Art Services Executive, U.S. Trust.
Conveying views from panelists representing collectors, galleries, and art financiers, the discussion was lively and covered topics ranging from the integrity of certain gallery business models and operating philosophies, evolving models that are true to the social value of art, new modalities of selling, and the need for fiscal responsibility to sustain galleries and artists they represent. Danese noted Athena’s approach to supporting galleries: “We talk to the galleries [big or small] that have the best art – art that is selling well and has liquidity. Looking at art is very different than looking at a balance sheet. In our business, information is paramount to managing risk. We create transparency in the marketplace and have the stamina to manage risk.”
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