«GOOD BUSINESS IS THE BEST ART»

The VIP (for Viewing in Private) Art Fair, which will open on January 22nd and run for a week, promises to cut costs dramatically for buyers and sellers of contemporary art: it will take place exclusively in the virtual world. VIP was created by James and Jane Cohan, a couple of New York art dealers who teamed up with two internet entrepreneurs three years ago when the art world was about to be hit by recession. At the last count 138 galleries from 30 countries had signed up. They range from established shops like London’s White Cube and New York’s David Zwirner to relative newcomers such as i8 in Reykjavik. Gallery owners can choose between three sizes of virtual booths for their wares, for about one-fifth as much as a traditional art fair charges. Mere browsing is free, although visitors must pay for access to an instant-messaging system, price lists and dealers’ private rooms.

-The Economist
jan 13 2011