Eva Presenhuber to Close Vienna Gallery as Sales Fall About 40 Percent
The Zurich-based dealer is shutting her Vienna space in early December, citing local costs and a softer market rather than trouble at her Zurich galleries, which she says are doing fine.
Eva Presenhuber is closing her Vienna gallery space in early December, a decision the Zurich-based dealer framed as a matter of local conditions rather than the health of her wider business. She told ARTnews her Zurich locations are "doing fine."
A Sentimental Opening, A Practical Ending
Presenhuber opened the Vienna space in April 2022 on what she described as a "sentimental" impulse, largely out of affection for her native Austria. When an ideal location became available, she said, she took it.
She said Vienna was no financial boon, though she cast it as a different kind of success: the space contributed to the celebration of artists from her program through 18 solo and 17 group institutional exhibitions in the region over just five years.
When the lease came due this year, she reasoned it was time to close, given the added expense the space had come to represent.
The Market Behind the Decision
A slower art market weighed indirectly on the choice. Presenhuber said the gallery's overall sales have dropped by about 40 percent over the last three years. She described the market as still in a period of adjustment for many galleries, which she said are seeing more hesitation from collectors.
Presenhuber said her Zurich galleries are doing fine, and tied the Vienna closure to local costs and a softer market rather than her core business.
"There's a lot of panic in the world right now, which also reaches our clients, who are getting more and more quiet, and less excited," she said in the ARTnews interview.
Competition and a Generational Shift
Presenhuber pointed to rising competition from other galleries as well as auction houses. She also described a generational shift among her collectors: a generation of once-dedicated buyers is getting older, acquiring less, and wondering what to do with their thousands of artworks. It is unclear, she said, who, if anyone, will replace them.
Presenhuber has been in the business for over 35 years and is described by ARTnews as one of Europe's most respected dealers.
What Remains on View
The Vienna gallery is currently showing an exhibition of works by Angela Bulloch until October 23. A final exhibition of works by Austrian designer Nina Hollein follows, from November 11 to December 4. Shortly afterward, the gallery will close.
