According to Maximilíano Durón of Artnews, Ibid Gallery has announced that it is closing its central London space. Magnus Edensvard, who established the gallery in 2004, said that the traditional gallery model “feels outdated,” since about 95 percent of transactions with its London client base are conducted at art fairs and other locations.
“In the last five or so years, the center of London has become the essential place to have a gallery,” Edensvard said. “[But] looking at the price points of a lot of the artists’ works we sell and also the frequency with which we met our clients at a gallery, we felt that the economy started to make less and less sense for a gallery like us.”
Moving forward, Edensvard said that Ibid would organize London exhibitions about four times a year. For its first project, it is partnering with HS Projects to present a site-specific David Adamo work in the Finsbury Circus House in Moorgate.