Recession can be a time to grow at L.A. galleries

This article was originally on a blog post platform and may be missing photos, graphics or links. See About archive blog posts.

‘This has been a big hit, a really big hit,’ veteran L.A. art dealer Margo Leavin says of the recession that has deflated the art market, sending auction prices into a downward spiral, shuttering galleries and squeezing collectors’ confidence as well as their budgets.

But so far, L.A.’s gallery scene has weathered the economic disaster with surprising resilience. Quite a few showcases have closed or downsized but solidly established dealers are soldiering on with tightened belts, and a remarkable number of galleries are expanding, sometimes with the help of reduced rent.

Susanne Vielmetter Los Angeles Projects, for example, is moving four blocks west on Washington Boulevard in Culver City to a bigger building with a soaring ceiling.

‘I starting looking last summer because I needed more space,’ Vielmetter says. ‘Then the recession came and I wasn’t sure I really needed more space. But the landlords were getting more and more reasonable, to the point that they are now extremely reasonable. As ridiculous as it sounds, the only way for me to stay in Culver City and have the space I have always wanted was this recession.’

To read the full story, click here.

-- Suzanne Muchnic