The decline of the traditional gallery model has claimed another victim, with Los Angeles dealer Margo Leavin announcing that she will be closing her gallery at the end of September after more than 40 years in the art business. The internationally respected gallery, which opened in 1970, represented artists such as John Baldessari, William Leavitt, Claes Oldenburg and Lynda Benglis.

Speaking to the Los Angeles Times, Leavin and her business partner Wendy Brandow attributed the decision to shut down to shifting attitudes in the art market. “People are approaching art differently today. They’re not seeking out the thoughtful, complete statement that artists make when they create gallery exhibitions,” Brandow says. “The exhibitions have been such an important part of what we do, and they are no longer valued as much by the public.” Leavin also blamed the growing importance of art fairs: “It’s not the way we like to do business. To produce works for an art fair is just not what our artists do.”