Our founder, Callum Hale-Thomson, recently appeared on the ArtTactic Podcast in a conversation focused on the findings of First Thursday’s 2025 Art Fair Report.

In the episode, Callum spoke with host Adam Green about why many galleries feel the current art fair model is becoming increasingly difficult to sustain. The discussion explored rising participation costs, uncertainty around sales, and the growing gap between the financial risk of fairs and their average return on investment.

The conversation also addressed why fairs remain central to gallery strategy despite these pressures. While immediate sales are harder to predict, many galleries continue to value fairs as a way to reach new audiences and build long term collector relationships, particularly in international markets.

Drawing on survey data and first hand conversations with galleries, the episode examined how dealers are responding by becoming more selective about fair participation and reassessing what success at a fair really looks like. The discussion also touched on alternative ideas and operational changes that could support a more sustainable future for fairs and for the galleries that rely on them.

→ Listen to the full episode here