1 Introduction
1.1 Research Problem
Today, art galleries can be found in every major city. They are part of a city’s cultural life,
included in every tourist guide along with museums, exhibition halls and Kunsthallen. To those
who live locally, art galleries are also a part of their social calendar, exhibition openings forming
a melting pot for the reunion of a select and sophisticated crowd. Furthermore, art galleries
contribute substantially to the cultural life of a city (Robertson, 2008; Thompson, 2008). It is the
art gallery that supports young artists, helping them to develop and arrange exhibitions that
attract collectors. Art galleries form the most relevant intermediary in the art market (Boll, 2009).
In short: like shopping centres, museums or fashion stores, art galleries belong in every city and
play a substantial role in the art market