The increased resources that come with joint representation can also help artists build institutional recognition and gain entry into biennials. “European artists may have closer relationships with their local FRAC or Kunsthalle, while an American gallery may be closer with the local museum trustees,” said art advisor Joe Sheftel. Grimm echoed this point, stating that when galleries work together, they can not only pool logistics and works for a museum exhibition, but can jointly sponsor publications that help increase scholarly interest in an artist’s practice.
Of course, with greater institutional and collector interest comes an increase in an artist’s pricing. “Prices automatically change when an artist starts working with an additional gallery, since their market expands,” Grimm said. “However, demand and institutional support both have to sustain price increases. With each additional solo exhibition, museum show, monograph, or biennial participation, prices can change.” Beavers expanded on that point, stating that any valuation increase is determined by both galleries looking at an artist’s historical pricing patterns to insure that, despite any increase in price, the artist “continues to build trust within the market and collectors.”