Goodman Gallery pivots to digital platform and advisory amid art market downturn

Goodman Gallery, founded in 1966 in Johannesburg by Linda Givon and now owned by Liza Essers, is restructuring to survive a prolonged art market downturn. With spaces in Cape Town, London, and New York, the gallery represents blue-chip Global South artists including El Anatsui, Shirin Neshat, William Kentridge, and Carrie Mae Weems. Between 2023 and 2025, revenue rose from £28.5 million to £35.3 million, but profits fell 58% in 2024 to £2.1 million, according to U.K. filings. Essers cut costs by reducing the artist roster by nearly a third, laying off staff, and skipping Art Basel Miami Beach for the first time. She also invested in a new digital platform with integrated e-commerce, advisory services, and secondary-market sales. The platform includes KYC protocols, WhatsApp integration, and accepts payments via credit card, Apple Pay, and Bitcoin. The gallery is also reshaping its Cape Town and Johannesburg spaces to include private rooms for advisory and secondary sales. Essers noted that collectors now prefer personal engagement over large openings and art fairs, citing a shift toward bespoke experiences. The restructuring comes as other galleries like Pace, Templon, and Dépendance also cut costs or close. Natasha Degen of Sotheby's Institute of Art commented that galleries are reevaluating the mega-gallery model. Goodman's first advisory clients include Barloworld and a New York wealth management firm.