If business is far quieter than a year ago, Mr. Augustine, for one, said he takes solace in collectors’ renewed focus on gallery programming, as opposed to faddish speculative buying.

“If you can’t define yourself right now,” [David Zwirner] said, “you’re going to get swallowed up, because the ones who do define themselves are going to take all of the business.”

Lisa Spellman, the owner of 303 Gallery, said: “What drives me crazy are these clichés that say only the very, very best survive. I don’t believe that recessions are Darwinian systems.”

Some interesting thoughts from a NY Times article about the economic climate of art galleries right now in New York. However, I did let out an audible snort over this line:

…With half of a dealer’s profits typically going to the artist, he said, “that doesn’t give much room to run a business.”