NADA Is Launching a New Online Fair for 200 Dealers Who Will Put 20 Percent of Their Proceeds Into a Shared Pot

In an effort to drum up business
for its member galleries and develop a new business model in the
meantime, the New Art
Dealers Alliance (NADA) is launching a new profit-sharing virtual
fair this month. 

The aptly-titled Fair, which
will be live from May 20 through June 21, will act as a kind of
co-op: 20 percent of all sales will be put into a communal pot and
divided evenly among exhibitors, while another 20 percent will go
to exhibiting artists. And instead of a participation fee, which
most fairs charge, galleries will pay 10 percent of their sales
proceeds to NADA for organizing the event. The remaining 50 percent
of sales go to the galleries who made them.

The goal is to fight for the industry as a whole, said NADA’s
executive director, Heather Hubbs.

“While many of these art spaces
have been temporarily closed to the public, this new model provides
an opportunity to showcase the best of contemporary art, while
demonstrating our collaborative spirit and fostering mutual support
for one another,” she said in a statement.

Two hundred galleries will be
included in Fair, 118 of which are NADA members. (Invitations were
extended to past participants in NADA’s live fairs.)

Among the exhibitors are A.I.R.
Gallery from New York, Luis De Jesus from Los Angeles, and
NICOLETTI contemporary from London. Like other virtual efforts,
Fair will also be accompanied by a slate of live programs,
including performances, studio visits, and panel
talks.  

Exhibitors will showcase one to
four artworks over the month-long run of the event, with the option
of “rehanging” the display each week. To make it a worthwhile
effort for those involved, the total value of artworks showcased
must be over $10,000 for each individual gallery, and no discounts
will be offered to collectors. 

NADA has also launched a
relief
program, awarding grants
of up to $5,000 to artists severely impacted by the economic
crisis.

The post NADA Is Launching a New Online Fair for 200 Dealers
Who Will Put 20 Percent of Their Proceeds Into a Shared Pot
appeared first on artnet News.