Blab Business
Goodman Gallery Cuts Costs, Launches Digital Platform Ahead of Art Basel
Goodman Gallery, the South African contemporary art house that opened its doors in 1966, is reshaping its business model in the run‑up to Art Basel. In a move that signals a break from its long‑standing presence in Miami, the gallery announced it will skip the fair for the first time ever, after a 58 % decline in 2024 profits and a series of cost‑cutting measures. The decision comes alongside the launch of a new digital platform that blends e‑commerce, advisory services and a secondary‑market channel.
Owner and director Liza Essers has steered Goodman through a period of significant transformation. Under her stewardship, revenue climbed from £28.5 million in 2023 to £35.3 million in 2025, a rise of nearly £7 million. Yet the 2024 consolidated filings on Companies House show a profit of £2.1 million, a 58 % drop from the previous year. Essers said the gallery had to “put the brakes on, regroup, take a breather” after the downturn in the art market and the lingering effects of the pandemic.
To trim expenses, Goodman has cut its fair participation, laid off staff and reduced its artist roster by almost a third. The gallery’s long‑running presence at Art Basel Miami Beach will be absent in December 2025. Essers described the Swiss fair as a “disaster” and noted that other fairs—Frieze London, Singapore, Miami Basel and FOG—failed to generate the expected sales. The withdrawal reflects a broader industry trend, with other major galleries such as Pace and Templon also scaling back their footprints.
The new digital platform, which Essers calls a “fully integrated e‑commerce system that incorporates KYC protocols and imposes no price caps,” will let collectors browse works, receive invoices, track shipments and pay via credit card, bank transfer, Apple Pay or Bitcoin. A WhatsApp integration offers direct contact with sales and client‑services teams. The site will also host original content, including films about the gallery’s artists, and provide advisory services aimed at building corporate collections.
Goodman’s secondary‑market strategy centers on “blue‑chip Global South” artists such as El Anatsui, William Kentridge and Irma Stern, as well as Western figures like Alexander Calder and Gerhard Richter. The gallery’s advisory arm has already attracted clients such as Barloworld, a South African industrial group, and a New York wealth‑management firm. A U.S. client has recently signed up, though details remain confidential.
Physical spaces in Cape Town and Johannesburg are being reconfigured to create private rooms for advisory and secondary‑sales activities, while exhibition areas are being reduced in square footage. Essers noted that the gallery’s South African location imposes high shipping, travel and currency‑exchange costs, and that the digital platform is intended to mitigate these challenges.
Industry analysts, including Natasha Degen of Sotheby’s Institute of Art, observe that the gallery sector is re‑evaluating the “grow‑or‑go” model that dominated the previous decade. Degen said that many galleries are now “looking critically at whether they should be doing this” and that a smaller footprint may become acceptable.
Goodman’s restructuring signals a shift toward sustainability and adaptability in a market that has seen many dealers cut costs, shrink footprints and rethink expansion. The gallery’s new platform, the decision to skip Art Basel Miami, and the ongoing focus on secondary‑market sales and advisory services represent a comprehensive strategy to survive a challenging period.
What remains to be seen is how the digital platform will influence sales volume and whether Goodman will return to the Miami fair in future years. The gallery’s next earnings report, scheduled for early 2027, will provide further insight into the effectiveness of these changes.
Owner and director Liza Essers has steered Goodman through a period of significant transformation. Under her stewardship, revenue climbed from £28.5 million in 2023 to £35.3 million in 2025, a rise of nearly £7 million. Yet the 2024 consolidated filings on Companies House show a profit of £2.1 million, a 58 % drop from the previous year. Essers said the gallery had to “put the brakes on, regroup, take a breather” after the downturn in the art market and the lingering effects of the pandemic.
To trim expenses, Goodman has cut its fair participation, laid off staff and reduced its artist roster by almost a third. The gallery’s long‑running presence at Art Basel Miami Beach will be absent in December 2025. Essers described the Swiss fair as a “disaster” and noted that other fairs—Frieze London, Singapore, Miami Basel and FOG—failed to generate the expected sales. The withdrawal reflects a broader industry trend, with other major galleries such as Pace and Templon also scaling back their footprints.
The new digital platform, which Essers calls a “fully integrated e‑commerce system that incorporates KYC protocols and imposes no price caps,” will let collectors browse works, receive invoices, track shipments and pay via credit card, bank transfer, Apple Pay or Bitcoin. A WhatsApp integration offers direct contact with sales and client‑services teams. The site will also host original content, including films about the gallery’s artists, and provide advisory services aimed at building corporate collections.
Goodman’s secondary‑market strategy centers on “blue‑chip Global South” artists such as El Anatsui, William Kentridge and Irma Stern, as well as Western figures like Alexander Calder and Gerhard Richter. The gallery’s advisory arm has already attracted clients such as Barloworld, a South African industrial group, and a New York wealth‑management firm. A U.S. client has recently signed up, though details remain confidential.
Physical spaces in Cape Town and Johannesburg are being reconfigured to create private rooms for advisory and secondary‑sales activities, while exhibition areas are being reduced in square footage. Essers noted that the gallery’s South African location imposes high shipping, travel and currency‑exchange costs, and that the digital platform is intended to mitigate these challenges.
Industry analysts, including Natasha Degen of Sotheby’s Institute of Art, observe that the gallery sector is re‑evaluating the “grow‑or‑go” model that dominated the previous decade. Degen said that many galleries are now “looking critically at whether they should be doing this” and that a smaller footprint may become acceptable.
Goodman’s restructuring signals a shift toward sustainability and adaptability in a market that has seen many dealers cut costs, shrink footprints and rethink expansion. The gallery’s new platform, the decision to skip Art Basel Miami, and the ongoing focus on secondary‑market sales and advisory services represent a comprehensive strategy to survive a challenging period.
What remains to be seen is how the digital platform will influence sales volume and whether Goodman will return to the Miami fair in future years. The gallery’s next earnings report, scheduled for early 2027, will provide further insight into the effectiveness of these changes.
