There were 336 art fairs worldwide in 2024—the lowest total since 2021 and 71 fewer than in 2019. Photo credit: Scott Rudd Productions.

As the art world continues to mourn the departure of a notable duo of legendary dealers—both of whom cited burnout from the relentless fair circuit and mounting overhead—some art fairs, especially those run by dealers themselves, are beginning to acknowledge the real industry’s needs in this particularly strained economic moment. The Art Dealers Association of America recently announced it will cancel the October edition of ADAA The Art Show, a move that recognizes the market’s ongoing contraction and the urgency of rethinking a model that has long shown signs of being unsustainable. “This strategic pause reflects our commitment to advancing the ADAA’s mission, expanding our national impact, and shaping a bold, future-facing vision as the leading membership organization representing premier art galleries across the country,” read an email sent out late last week.

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When Observer reached out for comment, a spokesperson emphasized that the decision reflects the organization’s commitment to responsive leadership. “We’ve been listening carefully—to our members, to the moment we’re in, and to the shifting dynamics of the art world,” they said. “Our galleries are deeply engaged and widely respected. They’re invested in the future and navigating an increasingly complex landscape—one with more fairs, higher expectations and greater demands on time and resources.”

Many will lament the absence of the festive, champagne-flooded opening night at the Park Avenue Armory—particularly the fundraising boost it brought to the Henry Street Settlement, with last year’s edition raising over $1 million for the Lower East Side nonprofit in a single evening—but plenty of gallerists and art-world insiders greeted the news with something closer to relief. One less fair in an already oversaturated calendar, and in a city where the gallery-to-fair ratio is stretched perilously thin, felt more like mercy than loss. “Thank heavens—fewer art fairs. More gallery time,” commented art advisor Lara Björk on Instagram. Others quickly chimed in, agreeing it was the right move. Will Leung, from Long Story Short, added that if fairs went biennial—Art Basel excluded, of course—it might actually benefit everyone.

Founded in 1962, the ADAA counts more than 200 members across the spectrum—from secondary-market solo dealers to blue-chip powerhouses like David Zwirner, Marian Goodman, Almine Rech and

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