PPace Gallery is an international art gallery representing influential artists and estates from the 20th and 21st centuries. It organizes exhibitions, manages artist relationships, and publishes scholarly work through Pace Publishing. The gallery operates eight locations worldwide, including New York, Los Angeles, London, Berlin, Geneva, Hong Kong, Seoul, and Tokyo. How it works: Pace showcases artworks in its gallery spaces, coordinates sales and loans to collectors, and supports artists by developing their careers and publishing scholarly projects. How it differs from competitors: it has long-standing relationships with major legacy artists and estates, a strong blend of historic and contemporary artists, and an in-house publishing imprint, all supported by a global footprint. Its goal is to support artists and share their visionary work with audiences and collectors around the world.
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Pace to close Hanover Square mega gallery after £5.4m losses. Oct 28, 2026 Via News Desk Pace has put its Hanover Square lease up for sale. It quietly went on the market in June following an internal restructuring. Around 50 artists left the roster worldwide, and sales fell by about 20 per cent. Both sets of accounts say the aim is to concentrate resources, serve artists and collectors better and return to efficient, profitable trading. They also note a smaller property footprint, which means fewer exhibitions and lighter overheads. Part of Pace's woes stem from the construction and renovation of the Pace Gallery's global flagship in West 25th Street, Chelsea, New York, which cost just under $100 million. Marc Glimcher, CEO and son of the founder of Pace, said, "The gallery model is broken; the current commercial art world has become too big, too corporate, too impersonal, and Pace is doing something about it. Glimcher is on the lookout for a smaller London space nearby in 2027. In New York, some floors of the headquarters are available to sublease. Pace Gallery Limited incurred a $5.4 million loss in 2025. Companies House published the accounts on October 26. The filing has come just days after the gallery posted its 2024 figures, ten months overdue. Those showed a $1.9 million loss. Earlier this year, Pace parted with several staff members in an effort to stabilise its finances. Pace Gallery Limited is the U.K.-registered company behind the group's operations in Europe and Asia. The U.S. headquarters and the Tokyo space are not part of it. Turnover for 2025 reached $65.9 million. That is 2.6 per cent lower than in 2024 and 37 per cent lower than in 2023, when sales stood at $104.9 million. Before tax, the company lost $5.5 million. In 2024, the same figure was only $2,429. A sector-wide contraction in both the global and U.K. art trade, along with some clients who still refuse to buy. The 2024 filing used almost the same language. The balance sheet has weakened. Net liabilities in 2024 were $2.9 million, a swing from net assets of $2.5 million. The company owed $9.9 million to its American parent, Pace Gallery LLC, up from $9.4 million. A wider measure puts total debt owed to the parent at $21.3 million, up from $19.2 million previously. Pace says it has a fix. By the end of 2026, the company intends to turn what it is owed into shares. The 2024 accounts carried the same promise. A spokesperson insisted this should not be taken as a sign of loss or a cash problem in London. The parent has decided that part of its stake should be recorded on the books as equity rather than intercompany debt. The move, the spokesperson said, should strengthen the balance sheet and align with the business's long-term needs. This is not the first gallery at 4 Hanover Sq to close abruptly. Blain Southern, which preceded Pace, rapidly expanded into massive premises in New York before declaring bankruptcy and shuttering in both cities. Could it be cursed?
Pace Gallery files UK accounts ten months late as debt refinancing and downsizing measures take hold. One of the world's largest galleries misses its Companies House deadline by ten months, signalling financial pressure at the top of the market. Articles " Associations, Museums, Auctions " Pace Gallery files UK accounts ten months late as debt refinancing and downsizing measures take hold. Pace Gallery filed its UK accounts ten months late with Companies House, missing the statutory nine month deadline and triggering automatic penalties. The delay coincides with debt refinancing and downsizing measures across the gallery's British operations, marking a significant shift for one of the international art market's biggest players. Late filing is not merely administrative. It signals cash flow pressure, distracted management, or both. For a gallery that represents 90 artists and estates globally and operates locations across eight cities from New York to Seoul, a ten month delay suggests something more than paperwork backlog. The gallery, founded by Arne Glimcher in 1960 and now run by his son Marc Glimcher, has spent years expanding aggressively into new markets. That expansion now appears to be reversing. Debt refinancing typically means renegotiating terms with lenders when servicing existing obligations becomes difficult. Downsizing means fewer staff, fewer shows, fewer commitments to artists who depend on gallery support to produce and sell work. For collectors, this matters directly. Galleries that face liquidity problems can delay payments to consignors. Artists whose representation depends on exhibition schedules and promotion may find themselves competing for diminished resources. The secondary market for works by Pace artists could soften if the gallery's ability to place new work and maintain collector relationships weakens. What it's worth? Find out GAUK Antiques for more articles, videos and its powerful ai valuation tool. Uncover the story and the value behind your finds. Pace is not alone. Hauser & Wirth closed its Hong Kong space in 2023. White Cube followed suit the same year. David Zwirner shuttered his Paris location in 2022 after less than two years. Gagosian reportedly cut staff in 2023. The Art Basel and UBS report for 2023 recorded a 4 percent decline in dealer sales, a modest figure that understates the pressure on galleries carrying high overheads in prime locations. The contemporary art market expanded rapidly through the 2010s and into the early pandemic years, driven by cheap capital, new collectors in Asia, and a speculative appetite for blue chip names. That environment rewarded galleries that opened multiple locations and signed large rosters. The contraction now underway punishes exactly that strategy. What separates a gallery restructuring from a gallery collapse is access to patient capital and the loyalty of key artists. Pace has both, so far. But ten months late on statutory filings is not a signal of strength. It is a signal that priorities have shifted from expansion to survival. Companies House penalties for late filing range from £150 to £1,500 depending on the length of delay. For a gallery operating at Pace's scale, the financial penalty is negligible. The reputational cost is not. Sources: Companies House UK, Art Basel and UBS Global Art Market Report 2023 Free Identification Upload a photograph - its AI identifies maker, period, condition and estimated value in seconds.
Wolf Kahn Foundation opens new space in NYC. A permanent home for the artist's archives, MoMA PS1 is getting a new café, which museum scored a sweet early Rothko, and more in Art Movements. Art Movements, published every Thursday afternoon, is a roundup of must-know news, appointments, awards, and other art-world happenings. Wolf Kahn Foundation opens permanent space in NYC. The legacy of Wolf Kahn, the German-born American artist whose lush, hue-drenched landscapes bridged Realism and Color Field painting, is entering a new era with a permanent space for his foundation in New York City. The Wolf Kahn Foundation and Archives at 134 West 26th Street will be open by appointment starting Monday, August 24, one year ahead of the late artist's centennial in October 2027. It's the first designated center for scholarship on the painter, housing a trove of research materials including early studies, letters, lectures, publications, and photographs. Ellen McCulloch-Lovell, president of the Wolf Kahn Foundation and a friend of Kahn until his death in 2020, told Hyperallergic that while he traveled widely and lived half the year on a hill farm in Vermont, the artist "always returned to his studio in NYC." "A refugee from Nazi Germany, he rejoined his family in the US, graduated from NY's High School of Music and Art, and after a stint in the Navy, took classes at the New School for Social Research and entered the Hans Hofmann School. He taught at Cooper Union, met many of his artist peers of the day, and helped organize Hansa Gallery," McCulloch-Lovell said. "The Foundation's presence in New York reflects his career and identification as a Second Generation, New York School artist," she added. MoMA PS1 gets a new eatery. In more New York news, MoMA PS1 will open a café led by chef DeVonn Francis in early October. Named Symone and inspired by Francis's Caribbean and Jamaican roots, its menu will feature French-African cuisine, including curry chicken salad sandwiches and patties. The restaurant will soft launch with select menu items during Printed Matter's NY Art Book Fair from September 24-27. Sounds mouthwatering - just hope it's not a classic $20 art-world sandwich situation. Acquisitions. * The Mississippi Museum of Art in Jackson has added a trove of artworks to its collection, including photographs by Tommy Kha, 33 mid-20th-century Choctaw baskets, a hand-drawn abstract composition by Rob Carpenter, and 18 works from Doy Gorton's White South series, photographs taken between 1969 and 1970 that document Southern society during legalized white supremacy. Also among the new holdings is heritage quilter Stephany Brown's "Madea" (2025), a piece inspired by the African-American women "on whose shoulders she stands," in her words. * The Cape Ann Museum in Gloucester, Massachusetts, scored an exquisite early watercolor and gouache painting by Mark Rothko. "Untitled (wharf, Gloucester, Massachusetts)" (1934), donated to the institution by the artist's son, Christopher Rothko, depicts the city's inner harbor as seen from neighboring East Gloucester, where the painter summered with friends Adolph Gottlieb and Milton Avery. What else happened? * Wolf Burchard was appointed curator in charge of the Department of European Sculpture and Decorative Arts at the Metropolitan Museum of Art. * Elizabeth S. Humphrey was named curator of American Art at the Portland Museum of Art, a new position endowed by the Peter and Paula Lunder family foundation. * May Makki was appointed associate curator at the Storefront for Art and Architecture. * In the wake of mass layoffs and artist roster reductions at Pace Gallery, two top employees have left their roles, Artnews reports. Amelia Redgrift, the gallery's chief communications officer, and Dani Forest Brandi, a senior sales director, have both stepped down. * The Bechtler Museum of Modern Art named Chris Revelle as its director of Learning and Engagement. * Christine Nyce was named director at Sargent's Daughters. Nikki Myers was named gallery associate. * Jessica Lang was selected as the next artistic advisor for the multidisciplinary residency Kaatsbaan Cultural Park in the Hudson Valley. Wildcard. Digital artist Lily Belmira has created a playable video game based on Michael Heizer's infamously difficult-to-visit Land Art sculpture "City" (1970-2022), which only six people are allowed to visit per day at a cost of about $150 per person. "I didn't like City when I started, and I saw this project as a way to undermine its power," Belmira wrote on her blog. "It's emblematic of a lot of things I don't like about art. If there was some powerful aesthetic experience to have with it, I guess I would be happy to give a lower resolution version of that to a lot of people." Support independent art reporting. Independent, critical reporting is increasingly hard to come by. But you can ensure it doesn't disappear. By becoming a paid member of the Hyperallergic community, you not only help keep its lights on, but ensure its hands (and pens) remain untied. Hyperallergic isn't beholden to large corporations or billionaires. Instead, its journalism is funded by readers like you: individuals who fight for integrity and justice during increasingly unjust times. With your support (as little as $6.67/month!), you are joining a community of people who value and advocate for independent journalism and greater transparency in the arts. The perks aren't bad either... Hyperallergic hope you'll join Hyperallergic.
Massive Hiroshige collection heads to Christie's - and more industry intel. The Portland Art Museum has a new director, and Frieze Seoul will have a new home in 2027. The best of Artnet News in your inbox. Art fairs. - Frieze Seoul will move to the Zaha Hadid-designed Dongdaemun Design Plaza (DDP) for its 2027 edition, due to the planned redevelopment of COEX, where the fair has been held since 2022. This year's fair runs September 2-5. - Art Toronto has announced its exhibitor lineup for the fair's 27th edition, running October 29-November 1 at the Metro Toronto Convention Centre. The fair will feature 105 exhibitors, with Canadian galleries making up more than half the roster, including Bau-Xi (Toronto, Vancouver), Corkin Gallery (Toronto), and Mónica Reyes Gallery (Vancouver). - The third edition of the Atlanta Art Fair will host around 70 galleries - including New York outfits Claire Oliver and Bill Hodges and Nashville transplant ZieherSmith - from October 1-4 at Pullman Yards. Auctions. - Christie's will sell businessman Alan Medaugh's collection of over 600 Hiroshige prints, built over 50 years, starting with a September 15 sale in New York of 180-plus works. - Sotheby's has landed a roughly $450 million tranche of Impressionist and Post-Impressionist masterworks from the holdings of the late Argentine collectors Nelly Arrieta de Blaquier and Carlos Pedro Blaquier. Artnet's Katya Kazakina broke the news. (Artnet News) Galleries. - More moves at the Pace Gallery: Amelia Redgrift, its chief communications officer, and Dani Forest Brandi, have resigned. Sources told Daniel Cassady that they are headed to "senior roles elsewhere in the art and culture world." (Artnews) - As financial pressures continue to mount for art dealers, two London gallerists - Kurt Beers of Beers Gallery and Sid Motion - said they will close after 14 and 10 years, respectively. (Artnet News) - Galerie Nordenhake now reps Alfredo Jaar; Antonio Darden has joined Kendra Jayne Patrick's roster; and the Nassau, Bahamas, outfit Tern has picked up Gio Swaby, Marisa Willoughby-Holland, and Richard Nattoo. Museums & institutions. - Zeitz MOCAA in Cape Town, South Africa, has named Elvira Dyangani Ose to be its next artistic director, succeeding the late Koyo Kouoh. She is currently the artistic director of the second edition of the Abu Dhabi Public Art Biennial and served as the director of the Museum of Contemporary Art Barcelona for five years, before stepping down in April. (Artnet News) - Michael J. Anderson is leaving the Oklahoma City Museum of Art after seven years to lead the Portland Art Museum in Oregon. (Artnet News) - Martin Clark, who has led London's Camden Art Centre for the past decade, is now the CEO and director of Towner Eastbourne, a contemporary art space in South East England. - Anna Katz will serve as the San Francisco Museum of Modern Art's inaugural Doris and Donald Fisher Senior Curator and Head of Painting and Sculpture. - Anne Reeve, formerly of Washington, D.C.'s Hirshhorn Museum and Sculpture Garden, is heading to Storm King Art Center in New Windsor, N.Y., to be its senior curator. (Artnet News) Awards. - The Joan Mitchell Foundation has named its 2026 Fellows: 15 U.S.-based painters and sculptors, including Krista Clark, Beatriz Cortez, and vanessa german. Each will receive $60,000 in unrestricted funding over five years, with the awards totaling $1.3 million. (Artnet News) Article topics
Emerging artist Li Hei Di joins Pace Gallery, becoming the youngest artist on its roster.
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Industries
Company Size
201-500
Company Stage
N/A
Total Funding
N/A
Headquarters
New York City, New York
Founded
N/A
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We update Pace Gallery's jobs every few hours, so check again soon!Browse all jobs