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"Art is a very discretionary sort of object, and we are in the worst recession arguably in the postwar era, Mad Men 1-3 (http://www.nibdvd.com/Mad-Men-Seasons-1-3-DVD-Set-p-668.html), 30 Rock dvd set (http://www.nibdvd.com/30-Rock-Seasons-1-4-DVD-Box-set-p-653.html)," said Jay Bryson, a global economist with Wells Fargo Securities in Charlotte, N.C. "Obviously somebody who has lost their job in a factory in Indiana probably is not buying art."
Even people with plenty of discretionary money aren't spending much on it.
"You're a billionaire and you took a 40 percent hit on your portfolio, now you only have $600 million left, Breaking Bad 1-3 (http://www.nibdvd.com/Breaking-Bad-1-3-DVD-p-671.html)," Bryson said. "That's still pretty deep pockets, but 40 percent is 40 percent."
"I'll tell you what — if I was younger, I'd just keep at it knowing we've not seen times quite as bad as this before, The Mentalist 1-2 dvd (http://www.nibdvd.com/The-Mentalist-Seasons-1-2-DVD-box-set-p-664.html)," Levy said.
Longtime customer Marylyn Gregory of Bernardsville, Treme seasons 1 dvd box set (http://www.nibdvd.com/Treme-Season-1-DVD-Box-set-p-672.html), N.J., came in the gallery that day to see it one last time and check out what pieces Levy had left of her and her husband's favorite artist. Gregory told Levy she was surprised and upset when she heard the gallery was closing but added, Fraggle Rock collection (http://www.nibdvd.com/Fraggle-Rock-DVD-Box-Set-p-665.html), Miami Medical on dvd (http://www.nibdvd.com/Miami-Medical-Season-1-DVD-p-670.html), "You're probably doing the right thing."
Gregory didn't end up buying anything that day, saying she needed to check with her husband. Before, she might have been more spontaneous.
"Sometimes you'd go to an opening and have a glass of wine, One Tree Hill complete box set of 1-7 (http://www.nibdvd.com/One-Tree-Hill-Seasons-1-7-DVD-Box-set-p-655.html), and you're like, OK, 30 Rock box set 1-4 (http://www.nibdvd.com/30-Rock-Seasons-1-4-DVD-Box-set-p-653.html), The Tudors dvd series (http://www.nibdvd.com/The-Tudors-Seasons-1-4-DVD-Box-set-p-652.html)," she said. "It's certainly the method to get everyone to open their checkbooks."
But like many other art lovers, the Gregorys are more conservative with their money these days.
Levy understands. "People are watching what they spend — cutting back and spending on the necessities of life. That makes sense to people."
Becky Smith knows that all too well. She owned the Bellwether Gallery in Manhattan's Chelsea neighborhood for a decade, but closed at the end of June after watching her revenue plummet to $80, Big Love dvd series (http://www.nibdvd.com/Big-Love-Seasons-1-3-DVD-Box-set-p-656.html),000 gross in the first quarter of 2009. She had $40,000 net, and $10, The Big Bang Theory dvd set (http://www.nibdvd.com/The-Big-Bang-Theory-Seasons-1-3-DVD-Box-set-p-662.html),000 of it went to rent each month.
The $80, Thomas & Friends dvd series (http://www.nibdvd.com/Thomas-&-Friends-Seasons-1-3-DVD-Box-set-p-651.html),000 figure was down from about $350,000 the same quarter in 2008 and about $600, Shaun The Sheep dvd 1-2 (http://www.nibdvd.com/Shaun-The-Sheep-Seasons-1-2-DVD-Box-set-p-680.html), The Incredible Hulk complete series (http://www.nibdvd.com/The-Incredible-Hulk-Seasons-1-5-DVD-Box-Set-p-679.html),000 during that period the year before.
"I was really startled," Smith said. "It was the spring of '08 where I saw three shows that should have been blockbusters underperform, Beverly Hills 90210 dvd set (http://www.nibdvd.com/Beverly-Hills-90210-Seasons-1-6-DVD-Box-set-p-657.html), and I was in shock.
"Things were booming so intensely a couple years ago and the pendulum has swung so far in the opposite direction, it was impossible to know where I stood," she said. "And I didn't want to be paying for a storefront while I was figuring it out."
In the past two years, The Incredible Hulk dvds (http://www.nibdvd.com/The-Incredible-Hulk-Seasons-1-5-DVD-Box-Set-p-679.html), at least 24 galleries have closed in Manhattan, mostly in Chelsea, according to New York City-based Artnet magazine, Two and a Half Men dvd set (http://www.nibdvd.com/Two-and-a-Half-Men-Seasons-1-7-DVD-Box-set-p-663.html), The Vampire Diaries dvd (http://www.nibdvd.com/The-Vampire-Diaries-Season-1-DVD-Box-Set-p-676.html), The Closer boxset (http://www.nibdvd.com/The-Closer-Season-5-DVD-Box-set-p-681.html), The Tudors complete box set of 1-4 (http://www.nibdvd.com/The-Tudors-Seasons-1-4-DVD-Box-set-p-652.html), which covers the fine art world. "That's really dramatic," said Artnet editor Walter Robinson.
In Santa Fe, N.M., between 10 and 15 galleries have closed this year, said Christy Walker, managing director of the Santa Fe Gallery Association.
"A lot of people have this idea that running a gallery, Fringe complete series (http://www.nibdvd.com/Fringe-Seasons-1-2-DVD-Box-set-p-675.html), the owners make a lot of money, Thomas & Friends complete box set of 1-3 (http://www.nibdvd.com/Thomas-&-Friends-Seasons-1-3-DVD-Box-set-p-651.html), when it's just a lot of effort to make a living off of it, The Closer seasons 5 dvd (http://www.nibdvd.com/The-Closer-Season-5-DVD-Box-set-p-681.html)," she said. "It's a hard business to be in, and when things are good, things are good, Rome complete box set of 1-2 (http://www.nibdvd.com/Rome-Seasons-1-2-DVD-p-658.html), and when times are tough, Chuck complete box set of 1-3 (http://www.nibdvd.com/Chuck-Seasons-1-3-DVD-Box-set-p-661.html), it's a
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"Art is a very discretionary sort of object, and we are in the worst recession arguably in the postwar era, Mad Men 1-3 (http://www.nibdvd.com/Mad-Men-Seasons-1-3-DVD-Set-p-668.html), 30 Rock dvd set (http://www.nibdvd.com/30-Rock-Seasons-1-4-DVD-Box-set-p-653.html)," said Jay Bryson, a global economist with Wells Fargo Securities in Charlotte, N.C. "Obviously somebody who has lost their job in a factory in Indiana probably is not buying art."
Even people with plenty of discretionary money aren't spending much on it.
"You're a billionaire and you took a 40 percent hit on your portfolio, now you only have $600 million left, Breaking Bad 1-3 (http://www.nibdvd.com/Breaking-Bad-1-3-DVD-p-671.html)," Bryson said. "That's still pretty deep pockets, but 40 percent is 40 percent."
"I'll tell you what — if I was younger, I'd just keep at it knowing we've not seen times quite as bad as this before, The Mentalist 1-2 dvd (http://www.nibdvd.com/The-Mentalist-Seasons-1-2-DVD-box-set-p-664.html)," Levy said.
Longtime customer Marylyn Gregory of Bernardsville, Treme seasons 1 dvd box set (http://www.nibdvd.com/Treme-Season-1-DVD-Box-set-p-672.html), N.J., came in the gallery that day to see it one last time and check out what pieces Levy had left of her and her husband's favorite artist. Gregory told Levy she was surprised and upset when she heard the gallery was closing but added, Fraggle Rock collection (http://www.nibdvd.com/Fraggle-Rock-DVD-Box-Set-p-665.html), Miami Medical on dvd (http://www.nibdvd.com/Miami-Medical-Season-1-DVD-p-670.html), "You're probably doing the right thing."
Gregory didn't end up buying anything that day, saying she needed to check with her husband. Before, she might have been more spontaneous.
"Sometimes you'd go to an opening and have a glass of wine, One Tree Hill complete box set of 1-7 (http://www.nibdvd.com/One-Tree-Hill-Seasons-1-7-DVD-Box-set-p-655.html), and you're like, OK, 30 Rock box set 1-4 (http://www.nibdvd.com/30-Rock-Seasons-1-4-DVD-Box-set-p-653.html), The Tudors dvd series (http://www.nibdvd.com/The-Tudors-Seasons-1-4-DVD-Box-set-p-652.html)," she said. "It's certainly the method to get everyone to open their checkbooks."
But like many other art lovers, the Gregorys are more conservative with their money these days.
Levy understands. "People are watching what they spend — cutting back and spending on the necessities of life. That makes sense to people."
Becky Smith knows that all too well. She owned the Bellwether Gallery in Manhattan's Chelsea neighborhood for a decade, but closed at the end of June after watching her revenue plummet to $80, Big Love dvd series (http://www.nibdvd.com/Big-Love-Seasons-1-3-DVD-Box-set-p-656.html),000 gross in the first quarter of 2009. She had $40,000 net, and $10, The Big Bang Theory dvd set (http://www.nibdvd.com/The-Big-Bang-Theory-Seasons-1-3-DVD-Box-set-p-662.html),000 of it went to rent each month.
The $80, Thomas & Friends dvd series (http://www.nibdvd.com/Thomas-&-Friends-Seasons-1-3-DVD-Box-set-p-651.html),000 figure was down from about $350,000 the same quarter in 2008 and about $600, Shaun The Sheep dvd 1-2 (http://www.nibdvd.com/Shaun-The-Sheep-Seasons-1-2-DVD-Box-set-p-680.html), The Incredible Hulk complete series (http://www.nibdvd.com/The-Incredible-Hulk-Seasons-1-5-DVD-Box-Set-p-679.html),000 during that period the year before.
"I was really startled," Smith said. "It was the spring of '08 where I saw three shows that should have been blockbusters underperform, Beverly Hills 90210 dvd set (http://www.nibdvd.com/Beverly-Hills-90210-Seasons-1-6-DVD-Box-set-p-657.html), and I was in shock.
"Things were booming so intensely a couple years ago and the pendulum has swung so far in the opposite direction, it was impossible to know where I stood," she said. "And I didn't want to be paying for a storefront while I was figuring it out."
In the past two years, The Incredible Hulk dvds (http://www.nibdvd.com/The-Incredible-Hulk-Seasons-1-5-DVD-Box-Set-p-679.html), at least 24 galleries have closed in Manhattan, mostly in Chelsea, according to New York City-based Artnet magazine, Two and a Half Men dvd set (http://www.nibdvd.com/Two-and-a-Half-Men-Seasons-1-7-DVD-Box-set-p-663.html), The Vampire Diaries dvd (http://www.nibdvd.com/The-Vampire-Diaries-Season-1-DVD-Box-Set-p-676.html), The Closer boxset (http://www.nibdvd.com/The-Closer-Season-5-DVD-Box-set-p-681.html), The Tudors complete box set of 1-4 (http://www.nibdvd.com/The-Tudors-Seasons-1-4-DVD-Box-set-p-652.html), which covers the fine art world. "That's really dramatic," said Artnet editor Walter Robinson.
In Santa Fe, N.M., between 10 and 15 galleries have closed this year, said Christy Walker, managing director of the Santa Fe Gallery Association.
"A lot of people have this idea that running a gallery, Fringe complete series (http://www.nibdvd.com/Fringe-Seasons-1-2-DVD-Box-set-p-675.html), the owners make a lot of money, Thomas & Friends complete box set of 1-3 (http://www.nibdvd.com/Thomas-&-Friends-Seasons-1-3-DVD-Box-set-p-651.html), when it's just a lot of effort to make a living off of it, The Closer seasons 5 dvd (http://www.nibdvd.com/The-Closer-Season-5-DVD-Box-set-p-681.html)," she said. "It's a hard business to be in, and when things are good, things are good, Rome complete box set of 1-2 (http://www.nibdvd.com/Rome-Seasons-1-2-DVD-p-658.html), and when times are tough, Chuck complete box set of 1-3 (http://www.nibdvd.com/Chuck-Seasons-1-3-DVD-Box-set-p-661.html), it's a
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