NADA Is Launching a Communal New Online Art Fair for 200 Dealers Who Will Equally Share 20 Percent of All Sales
Galleries will also pay 10 percent of their sales proceeds to NADA for organizing the event.
In an effort to drum up business for its member galleries and develop a new business model in the meantime, the New Art Dealers Alliance (NADA) is launching a new profit-sharing virtual fair this month.
The aptly-titled Fair, which will be live from May 20 through June 21, will act as a kind of co-op: 20 percent of all sales will be put into a communal pot and divided evenly among exhibitors, while another 20 percent will go to exhibiting artists. And instead of a participation fee, which most fairs charge, galleries will pay 10 percent of their sales proceeds to NADA for organizing the event. The remaining 50 percent of sales go to the galleries who made them.
The goal is to fight for the industry as a whole, said NADA’s executive director, Heather Hubbs.
“While many of these art spaces have been temporarily closed to the public, this new model provides an opportunity to showcase the best of contemporary art, while demonstrating our collaborative spirit and fostering mutual support for one another,” she said in a statement.
Two hundred galleries will be included in Fair, 118 of which are NADA members. (Invitations were extended to past participants in NADA’s live fairs.)
Among the exhibitors are A.I.R. Gallery from New York, Luis De Jesus from Los Angeles, and NICOLETTI contemporary from London. Like other virtual efforts, Fair will also be accompanied by a slate of live programs, including performances, studio visits, and panel talks.
Exhibitors will showcase one to four artworks over the month-long run of the event, with the option of “rehanging” the display each week. To make it a worthwhile effort for those involved, the total value of artworks showcased must be over $10,000 for each individual gallery, and no discounts will be offered to collectors.
NADA has also launched a relief program, awarding grants of up to $5,000 to artists severely impacted by the economic crisis.
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