Pace Gallery Drops 50+ Artists, Cuts Staff by 20% in Major Restructuring
Pace Gallery is undergoing significant changes, letting go of more than 50 artists from its current roster of 135 and reducing its workforce by 20%. CEO Marc Glimcher has pointed to a crisis within the gallery's business model, declaring, "The current gallery model is not only broken, it cannot be repaired." The gallery is also looking for smaller locations in London. Although Glimcher claims this situation is unique to Pace, many in the industry see it as a concerning signal. Meanwhile, Ketterer Kunst is marking its 80th anniversary with an auction that includes pieces by Kandinsky and Kirchner, with a Kandinsky artwork valued between €2–3 million. In Germany, a SPD AI video featuring Holocaust survivor Jeanette Wolff has sparked controversy, with Tobias Ginsburg labeling it a "history-falsifying mockery."
Key facts
- Pace Gallery drops over 50 artists from its 135-artist program.
- Pace Gallery cuts 20% of its workforce.
- Pace Gallery seeks smaller premises in London.
- CEO Marc Glimcher says the current gallery model is broken and cannot be repaired.
- Matt Carey-Williams calls the Pace restructuring an 'alarm signal' for the art market.
- Ketterer Kunst celebrates its 80th anniversary with a high-profile auction.
- Ketterer Kunst reattributes a work from Gabriele Münter to Kandinsky, now estimated at €500,000–700,000.
- A Kandinsky painting at Ketterer could fetch €2–3 million.
- SPD releases an AI video featuring Holocaust survivor Jeanette Wolff as an avatar.
- Tobias Ginsburg criticizes the AI video as 'history-falsifying mockery' and a 'necromantic memory machine.'
- Meron Mendel and Volker Beck debate Yad Vashem branches in Munich and Leipzig.
- Mendel warns of political risks and Israeli government influence on Yad Vashem.
- Beck defends Yad Vashem as an established educational institution.
Entities
Artists
- Jeanette Wolff
- Wassily Kandinsky
- Ernst Ludwig Kirchner
- Gabriele Münter
- Roman Norbert Ketterer
- Robert Ketterer
Institutions
- Pace Gallery
- Ketterer Kunst
- Yad Vashem
- SPD
- Deutsch-Israelische Gesellschaft
- Bildungsstätte Anne Frank
- Financial Times
- Die Zeit
- SZ
- FAZ
Locations
- London
- Munich
- Leipzig
- Stuttgart
- Germany