Do art galleries need economists?

The article from the Financial Times explores whether art galleries should employ economists to navigate the increasingly complex art market. It discusses the growing intersection of art and finance, where data analysis and economic expertise are becoming valuable for pricing, investment strategies, and market forecasting. The piece examines how some galleries are already integrating economic insights into their operations, while others remain skeptical about applying quantitative methods to the subjective world of art. The article highlights the tension between art's intrinsic value and its commodification, questioning if economic rationalization could undermine creative freedom. It also touches on the role of art advisors and the need for transparency in a market often criticized for opacity. The piece concludes by considering the potential benefits and drawbacks of bringing economic thinking into gallery management.