Monopoly regulars have known it since its creation in 1935, “Avenue Matignon” is the winning card. Less popular a priori than Rue de la Paix and its jewelers, less bling-bling than the touristy Avenue des Champs-Elysées, it remains imperturbably profitable. The big auction houses understood this before the others, preferring their beloved 8e district in the Drouot district.
For half a dozen years, galleries have also been rushing there. Around thirty of them, united in an association, are launching a night premiere on October 14 with music and arty food trucks. “Moving here is obvious”says Raphaël Durazzo, who after having cut his teeth in finance converted to the modern art trade by taking over the former space of the fashion designer Pierre Cardin, rue du Cirque. Even “obviousness” for Hélène Bailly, second generation of left bank art dealers. After working for eight years on rue de Seine, the young woman relocated in 2017 opposite the Hôtel Bristol. “I have twice as many customers there as rue de Seine”she said bluntly.
Also read (2024) | Article reserved for our subscribers The modern and contemporary art market in small form
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Near the tables popular for meetings of business lawyers and bankers, the American Gagosian led the way, followed by White Cube, another giant installed upstairs, receiving its clients in a typically bourgeois apartment.
Here we show hits, stars, with lots of zeros, on white walls, a reassuring oak parquet floor or a thick carpet, beige, greige or ecru. But not only that. This month, two new brands in the Marais, Continua and Edward Mitterrand, have chosen to branch out there, following the example of Nathalie Obadia, who added in 2021 to her large space in the Beaubourg district a new chic address, rue du Faubourg-Saint-Honoré.
Rush to the West
Why this rush to the west, confirmed in 2023 by the opening of the Hauser & Wirth gallery near Avenue Montaigne? “We can no longer move around since rue de Rivoli was closed to cars”argues Raphaëlla Riboud-Seydoux, director of the Italian Gallery, which is moving to rue du Faubourg-Saint-Honoré at the end of the year. This had initially focused on the rue du Louvre and the vicinity of François Pinault’s Bourse de Commerce. “Our customers do not take bikes or scooters”she said. The prospect of an hour of traffic jam, even sitting in the back of a sedan, discourages those in a hurry or the least motivated, inclined to skip the appointment too many, that of the gallery owner.
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