Art Districts
Galleries tend to cluster in certain neighborhoods within cosmopolitan cities for economic and practical reasons, mainly that it is possible for the buyers and general public to view more art if they can travel by foot. In the past galleries have tended to cluster in neighborhoods with affordable real-estate due to the unprofitable nature of the business. However in the 21st c. art galleries are strongly associated with the process of gentrification, and prime real estate for Chelsea galleries is not affordable for unprofitable galleries. Generally, cities that have less centralized art districts are faring poorly in terms of market share.
Read more about this topic: Contemporary Art Galleries
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