Book Review: Management of Art Galleries
- Editorial Team
- Mar 11
- 4 min read
Updated: Mar 16
Most art galleries struggle financially—but why? In Management of Art Galleries, Magnus Resch uncovers the hard truths behind gallery failures and lays out a strategic path for sustainability and growth. From branding to pricing models, his insights challenge the traditional art world mindset. But does his business-first approach risk overlooking the nuances of collector relationships and artistic integrity?
Book Review of Management of Art Galleries by Magnus Resch
Introduction: A Fresh Take on Art Gallery Management
Book Review: Magnus Resch's Management of Art Galleries presents a bold and data-driven approach to the art gallery business, challenging traditional assumptions and advocating for a more structured, financially sustainable model. At the heart of his argument is the idea that many galleries fail due to outdated business practices and a reluctance to embrace professional management techniques. Resch emphasizes that while galleries are cultural institutions, they are also businesses that must adapt to contemporary market demands.
The book’s relevance extends beyond gallery owners; it is a must-read for anyone interested in the intersection of art and commerce. By combining economic analysis, case studies, and survey data, Resch delivers an engaging and thought-provoking examination of what it takes to succeed in the increasingly competitive art world.
Strengths: Research, Practicality, and Innovation
One of the book’s strongest contributions is its research-backed insights. Resch conducted a global survey of over 8,000 galleries, providing a rare statistical foundation for understanding the gallery business. This empirical approach is particularly valuable in a field often characterized by anecdotal wisdom rather than hard data.
Key insights include:
The majority of art galleries operate at a loss or with very slim margins.
The traditional gallery model is outdated, failing to account for changes in collector behavior and competition from auction houses and online platforms.
Branding, pricing strategies, and diversified revenue streams are essential for financial viability.
Resch proposes a new business model that categorizes galleries into three phases:
Garage – A space for emerging artists, supported by benefactors.
Gallery – The core operation with a strong brand and limited exclusive artists.
Fine Art – A focus on the secondary market, where profit margins are highest.
This structured approach is refreshing and provides clear, actionable recommendations. Case studies of successful galleries such as Gagosian, Mendes Wood DM, and David Zwirner add credibility and real-world applicability to his arguments.
Weaknesses: Oversimplifications and Missing Perspectives
Despite its strengths, the book has some gaps.
A One-Size-Fits-All Approach - While Resch’s model is well-structured, it may not be universally applicable. His emphasis on financial optimization might overlook the unique missions of smaller galleries that prioritize artistic vision over profitability. Many galleries operate successfully with unconventional models that do not fit neatly into his framework.
Limited Discussion on Alternative Gallery Models - The book focuses heavily on commercial galleries but gives little attention to non-profit, artist-run, or hybrid models that also play crucial roles in the art ecosystem. This oversight makes the book less relevant for galleries that do not fit the traditional commercial mold.
Underestimation of the Art Market’s Nuances - Resch suggests that galleries should professionalize like luxury retail businesses, but he underestimates the psychological and relational aspects of art collecting. Many high-end galleries thrive not just because of management efficiency but due to deep personal relationships between gallerists and collectors. The book’s emphasis on sales metrics does not fully capture this dynamic.
A Controversial Take on Artists’ Power - The book categorizes artists as competitors to galleries, which may alienate readers from the artistic community. While it is true that some artists sell directly to collectors, a more balanced discussion of artist-gallery collaboration would strengthen the argument.
Comparison to Similar Works
Compared to other books on the art business, Management of Art Galleries stands out for its analytical rigor. However, it contrasts with books like The $12 Million Stuffed Shark by Don Thompson, which takes a more narrative-driven, collector-focused approach, and Seven Days in the Art World by Sarah Thornton, which captures the art ecosystem’s social dynamics.
While Resch’s book excels in practical advice, it lacks the cultural and historical depth found in Talking Prices by Olav Velthuis, which examines the sociology of pricing in contemporary art markets. Readers looking for a more holistic view of the art market might benefit from supplementing Resch’s work with these texts.
Broader Implications
Resch’s book raises important questions about the future of art galleries. As online sales and direct artist-to-collector transactions increase, traditional galleries must innovate or risk becoming obsolete. The book serves as a wake-up call for gallerists to rethink their approach, prioritize sustainability, and embrace strategic partnerships.
His recommendations also highlight a broader trend: the increasing professionalization of the art world. As institutions like Sotheby’s and Christie’s expand into the primary market, galleries must differentiate themselves through branding, exclusivity, and innovative sales strategies.
Final Verdict: Who Should Read It?
Resch’s Management of Art Galleries is essential reading for gallery owners, art market professionals, and business-minded artists looking to navigate the financial realities of the contemporary art world. Investors and entrepreneurs interested in the art market’s economic potential will also find valuable insights. However, those seeking a more artist-centric or sociocultural analysis of galleries may find the book overly commercial in its approach.
Despite its strong emphasis on profitability, Management of Art Galleries is a necessary reality check.
Resch challenges the romantic notion that passion alone sustains a gallery, convincingly arguing that success depends on strategic branding, diversified revenue streams, and a data-driven business model. Whether one fully embraces his pragmatic vision or not, the book forces art professionals to confront the uncomfortable truth that sustainability in the gallery world requires more than just a love for art—it demands smart management.
⭐⭐⭐⭐☆ Rating: 4/5
Pros: Data-driven insights, clear business strategies, strong case studies
Cons: (Intentionally) overly commercial focus, limited discussion of alternative gallery models
Recommended For: Gallery owners, art market professionals, business-minded artists, and investors in the art industry
To place an order: https://www.phaidon.com/store/art/management-of-art-galleries-9780714877754/ (No affiliate link; I'm not paid for reviews.)