NYAFAIR Thursday August 1 - August 4 2019 | VIP PREVIEW RECEPTION AUGUST 1 (6-9pm)

1stdibs, New Funding, and an Expanding Audience for Gallery 104

June 10, 2019

 

For Immediate Release:

1stdibs began as an online marketplace for the exchange of high-end antiques in 2001. The company—now valued at over $500 million—has grown considerably since then, expanding to a brick-and-mortar showroom at the Terminal Stores building in Chelsea. The luxury showroom has become an important meeting point for antiques dealers, interior designers, furniture-makers, craftsmen, and artists working in a variety disciplines. Their digital platform still remains important though for both domestic and international buyers alike. In fact, the company estimates that “…an average of 50 items sell for more than $5,000 on its platform daily, and that 15 of these are items that sell for more than $10,000.”[1] 1stdibs made market headlines recently because of two major announcements regarding future funding and new corporate partnerships.

At the end of March, 1stdibs announced the closure of a successful round of venture funding that added $76 million to the company’s holdings. The Series D funding campaign was spearheaded by T. Rowe Price Associates. 1stdibs CEO David Rosenblatt has hinted that some of this new funding may be used to open additional physical locations to complement its flagship location on 11th Avenue. Then, a few weeks later, 1stdibs announced its new partnership with Christie’s—one of the world’s leading auction houses. As of May 1, 2019, Christie’s now has an exhibitor’s booth within the space and a special digital storefront on 1stdibs.com. A special collection of furniture and decorative objects designed by Juan Montoya marks Christie’s first exhibition with the leader in e-commerce luxury goods.[2] Ultimately, 1stdibs’s partnership with Christie’s means that a new subset of collectors will be browsing the diverse offerings on display, both at its physical showroom and on its digital marketplace. This will increase buyer traffic and directly benefit the artists who exhibit at 1stdibs, including the current group who are part of Gallery 104’s June exhibition: Harold Barnard, Jane Sinclair, Olga Feshina, Sirenes, Jill Nonnemacher, Adrienne Anbinder, Sherry Krivosheev, Susan McKenna List, Ashley Vanore, M. Clark, Blakelee Harmon, Mae Jean, and Michail Papavalodoukas. The show will remain up until the end of June, and visitors may see the works during its run at the 1stdibs Gallery Monday through Friday between the hours of 10:00am and 6:00pm.

Gallery 104 Director Lucy McCarron with exhibiting artist Olga Feshina at 1stdibs

About Gallery 104

Founded in 2004, Gallery 104 began in southern California under the leadership of Shane Townley. After 11 years of successfully showcasing the work of several artists through monthly group exhibitions and participating in art fairs, the gallery moved to New York (see Los Angeles Times article). Today, Gallery 104 is overseen by Director Lucy McCarron and located on the lower level of the NYA Art Center in Tribeca. The gallery also manages an exhibition space within the 1stdibs Gallery at the Terminal Stores Building in Chelsea where monthly group shows also take place with a select number of represented artists.

About 1stdibs 

1stdibs is the world's leading online marketplace for rare and desirable objects. Founded in 2001 to bring the Paris flea markets online, the website today is the go-to source for those who have a passion for the most beautiful things on earth. By bringing together the best furniture, fine art, jewelry and watch dealers from more than 600 cities around the world, 1stdibs offers an exclusive inventory not available anywhere else online.

 

For press inquiries, please call (917) 472-9015 or email press@newyorkart.com.

For sales inquiries, please contact Lucy McCarron at lucy@gallery104.com.

Follow Gallery 104 on Instagram (@gallery104com) and Facebook (facebook.com/gallery104com).

 

[1] Connie Loizos, “1stdibs, the high-end online marketplace, just nabbed $76 million in Series D funding,” Tech Crunch, March 29, 2019.

[2] “1stdibs and Christie’s Announce Collaboration, Offering an Exclusive Collection Through 1stdibs,” PR Newswire, April 17, 2019.