Knoedler & Co., in the upper east side, announced suddenly this week on Wednesday that it will be closing down due to financial shakiness from the recession and troublesome economy. It’s unfortunate that this gallery is no longer open, because it has quite an interesting history. It opened its doors 165 years ago at a time when major museums and galleries were not prevalent in New York CIty. Not only did it become filled with significant artwork, but also it inspired the tastes and styles of homes here in New York. However, it’s not surprising to me that the corrupt business world may have played a significant role in the shut-down of Knoedler. Apparently, one day before the closing, Knoedler was sued by a man in London for selling him a possibly forged work of art for 17 million dollars! Now was this shut-down a response to this act? I’d vote “yes,” but it’s definitely too early to be making those kinds of calls at this point.

It’s too soon to know what will happen to the valuable art pieces, photographs, letters, etc., but it is a major concern, because these are pieces that date back as far as 1863. The Knoedler Gallery has occupied many homes in the past (somewhere around 13) and has helped shape the American art world. Therefore, it’s relevant to everything we’ve studied and analyzed in our Arts Seminar Class, because art may not have developed the way it has if early art galleries in New York had not progressed and persevered through hard economic times just as Knoedler has. The article I’ve provided contains more on the details of the close, but I just want to inform everyone of the significant shut down of a well-known and much-appreciated art gallery. I only wish I had gotten a chance to visit!