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Dot-com dips paint shaky picture for art market

Tuesday, July 4, 2000

By REGINA HACKETT Mail Author
SEATTLE POST-INTELLIGENCER ART CRITIC

Bad news from the business pages has some Seattle art dealers on edge.

While the art market is in fine shape nationally, it's shaky in Seattle, thanks to the uncertain state of Microsoft stock and the dying fall of various online enterprises.

The Northwest is heavily invested in software and the dot-com world. When Microsoft goes limp and Amazon begins to look like a 99-pound weakling, Northwest art dealers get nervous.

"Nobody wants to talk about lack of sales," said Gail Gibson, of the G. Gibson Gallery, "but it's very real. We (dealers) have begun to talk among ourselves. Everybody's afraid to bring it up, because everybody wonders at first if it's just us, if our business is down and everybody else is doing fine. This time, it's general. It was very noticeable after April, although it's starting to pick back up again."

Gibson feels somewhat protected from the contracting Northwest art market because she and her partner, Claudia Vernia, make 30 to 50 percent of their sales outside the region.

Greg Kucera of the Greg Kucera Gallery feels insulated from market fluctuations because he owns his space. "Nobody can raise the rent," he said. "Meanwhile, my property is appreciating in value. If I ever need to pull up stakes, I can sell the tent, not that it's going to happen anytime soon."

Brad Claypool of the Esther Claypool Gallery and Richard Thurston of the Grover/Thurston Gallery both report clients telling them they can't buy art now because of stock losses.

"It's not frightening, but it's quiet," said Claypool. Thurston agreed, calling the market quieter than he'd like.

"Susan (Grover) and I opened in 1991, just before the recession hit," said Thurston. "This is nothing like that. We're covering our expenses, but I don't think anybody's making much money."

One field appears to be shatterproof: glass art. Italian glass sculptor Lino Tagliapietra did extremely well at the William Traver Gallery last month. More than half the pieces sold for an average of $30,000 each. Kucera said he thought the beautiful catalog Traver produced and gave to potential clients contributed to the show's success. "It helped, no doubt about it," said Kucera.

Dan Kany, associate director of the Traver Gallery, said roughly half the sales were out of state. "I know a lot of people in this city took hits when the market went down," he said. "People would say they were holding back (from buying art) until the situation improved. But I don't think (market losses) stopped really serious clients from buying. I haven't seen

that."

Francine Seders, who, like Kucera, owns the gallery bearing her name, but unlike him doesn't carry a hefty mortgage, is regally indifferent to changes in the market.

"I don't care about money," she said. "It doesn't interest me. There are good months and bad months, but I don't see a pattern, except business continues to improve over time."

Billy Howard of Howard House doesn't own his space but his rent is the smallest of any major gallery in the city: $700 a month. (Tops is probably Foster White Gallery in Pioneer Square, at $7,500 a month.)

Although highly esteemed for the artists he shows, Howard hasn't been in business long and has no bankroll backing him. His expenses are low, but he has almost no cushion. "People tell me they can't buy now," he said. "I'm not worried, but I'll be happy when there's a turnaround."

James Harris of the James Harris Gallery is another critically acclaimed recent addition to the city. With a space in Pioneer Square, he pays more than Howard but much less than Foster.

"I've noticed a slowdown, both in foot traffic and sales," said Harris. "It doesn't scare me. I'm in this for the long haul." Harris added that he has the advantage of being part of a couple. His partner, shoe designer Carlos Garcia, pays nearly all the personal bills. "All my profits I can put back into the business. Carlos is my patron."

Nobody talked about going under, but that means little. Dealers tend to put a good face on even desperate situations until after the point of no return.

Tom Landowski, technical director of Foster/White Gallery, said he doesn't think Seattle is an "art supporting market" at any time, so a downturn isn't really noticeable. With a concentration on glass art, the gallery makes more than 60 percent of its sales out of town.

Kate Elliott of the Elliott/Brown Gallery seemed relieved to hear market losses have slowed sales. "I thought it was my fault," she said, "because I haven't been working very hard." Elliott, who concentrates on glass art, said she doesn't think she can use the market as an excuse, because 90 percent of her sales are outside the region.

Largely because she wants her Seattle sales to improve, she's planning to leave her little hole-in-the-wall gallery in Fremont and relocate to a bigger, better space closer to downtown.

"Fremont traffic is unreal," she said. "People don't want to come here." She said she's on the brink of committing to renting a new space closer to downtown that's twice as large and costs four times as much. "If that doesn't show confidence (in the Seattle art market), what does?"

Regina Hackett can be reached at 206-448-8332 or reginahackett@seattle-pi.com

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