Older and more experienced dealers offer their younger colleagues advice on how to weather the bad times.
“Cut costs as quickly and as radically as you can. Speed is the most important thing. Don’t wait, don’t let it get out of control. Act immediately.” This is the advice of Karsten Schubert, the German-born London dealer, to galleries struggling to survive the economic downturn.
The process is “very painful” says Schubert because “you are dismantling what you’ve built over the last few years”, but the only way to continue operating is to “let very qualified staff go very quickly and very brutally” and, where possible, to reduce other overheads such as rent.

 

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