Looking for an art gallery location in South FL (Miami: sales, real estate market)

[Ludek]

We're considering a new location for an established art gallery. We are considering Ft. Lauderdale, Naples, or Sarasota. Is 5th Ave S and 3rd St S a good location in Naples. We understand the season is Nov 1 through Easter and there are already a lot of art galleries in Npls. Correct?

[Beth Mone`]

Both have been good places for galleriesl. If it's fine art there are several quality dealers on 3rd and 5th.

Good Luck

Beth

[Ludek]

I saw that you own a business in Old Naples; how has your business been in the last couple of years and recently?

[daytonadewd]

Art Districts Magazine is a great resource to start looking in FL:
Art Districts Magazine

Hot areas now in FL are Wynwood in Miami Design District and in downtown St Pete.

Naples has great shows/pieces passing through town, but most of the collectors are from the Midwest and like (mostly) nature pieces such as pastoral pheasants, jumping pike and roaming buffalo! Most of the main buys come through decorators (which is in decline with the real estate market). Sanibel is similar.

There is more of a creative class in Ft Lauderdale area and the Keys.

Established buyers in Sarasota seem to usually use dealers in the NE for their residences there and usually stay under the radar locally while in town. They figure if you're worth socializing with, they'd know you in Boston, DC or the Hamptons.

[Beth Mone`]

Business has been excellent this year. I would disagree with the comment above. I never seen art at the level there is here in the fla keys. I'm also a former gallery owner on 3rd St. South. I'm not speaking of "decorator art".

Regards

Beth

[Ludek]

@ daytonadewd: St. Pete is one location we also considered; they appear hot right now with the new Dali & Chihuly collection; however, the retailers seem to be struggling too much. It looks like the total of 800 condos in the St. Pete downtown is not enough to support them. What do you know about Ft. Lauderdale market?

@ Beth: What was your experience with your art gallery business in Naples? Why did you close?

@ ALL: We think it will come down to either Naples (5th Ave S; 3rd St S) or Ft. Lauderdale (Las Olas Blvd) since we'd like to avoid Miami, and Key West is too off for us. We will offer contemporary emerging artists and glass art. Which market would you recommend.

[Beth Mone`]

It was a long time ago. Naples was still very seasonal.

Los Olas is a very different market compared to here. They as so different you should explore both in person before you decide.

We have a friend with a similar business to ours on Los Olas. We've compared them before. She's open much later at night compared to 5th Ave. or 3rd St.South. She's very successful.

Good Luck

Beth

[Ludek]

Beth, how bad is the seasonality in Naples? What is the approximate average drop in sales in the off season? 30% or more? Thanks

[Beth Mone`]

we do a lot of our business Oct thru April.

Summers have been profitable however since the mid 90's. Before that many business closed for the Summer or part of it. September is always the slowest month here.

We like our slow Summers, it gives us time to enjoy where we live. If you get serious about Naples and come to visit, we'll be happy to introduce you to a couple gallery owners. They would probably give you a more interesting art market perspective.


Beth

[daytonadewd]

Originally Posted by Ludek

@ daytonadewd: St. Pete is one location we also considered; they appear hot right now with the new Dali & Chihuly collection; however, the retailers seem to be struggling too much. It looks like the total of 800 condos in the St. Pete downtown is not enough to support them. What do you know about Ft. Lauderdale market?

Based on your posts, I would seriously recommend you do further market research on what a "season" means to each Florida market you're looking at. i.e. from January - April, there are significant snowbird populations that wouldn't be counted in the 800 condos in St Pete you're looking at. They're staying in hotels, resorts and other rentals -- who would come into the area -- or from surrounding markets (Sarasota, Orlando) for day trips. There are a lot of incentives to look at being offered by the city to relocate there that are worth checking out.

Ft Lauderdale has a strong presence of int'l residential artists who have seasonal homes or use it as a base (who may be respresented in NYC, Boston, Miami, London, Germany, Madrid, Buenos Aires, etc.) and sophisticated buyers (from Palm Beach to Miami) who are part of the "Creative Class" scene. They love coming out for openings and socializing while in town. There is a lot of bartering for pieces by new up-and-coming artists, including purchases by followers/collectors. Focus is on the "new idea" (or flip on an old one) in the global art world, which is fun. Or on the "hot" investment in ancient world art pieces (which may present legal antiquities issues).

This is an urbane, jaded market that likes to have fun and can carry water. (It will also wreck you if you're too serious and can't enjoy the fun and the latest idea/focus that season). It will challenge you if you can't "catch the wave" -- even if you don't get it or disagree. (It will be different next year anyway). Lots of instituitional/corporate/decorator buys, but also recent cutbacks. Expect to compete with lavish openings to become interesting to this tough crowd that's seen it all.

Hope this helps!