The announcement that London's Vilma Gold Gallery is closing comes as no surprise and the reason for the closure stated as “an endlessly accelerating global cycle of [art] fairs” only reinforces the fear that the market has reached saturation.
The situation reminds me of a comment made by a colleague at a once popular Birmingham Art auction house that "there are now too many pictures and not enough customers" which led him to announce that he is no longer buying new stock but concentrating on emptying his store-room. Not long after this the same auction house announced that they were discontinuing their regular Art auctions and replacing them with a combined Art/General sale.
Too many venues obviously leads to cut-throat competition between vendors and in turn leads to retractions from the market which in time will hopefully lead to stability overall.
In the meantime art collectors can benefit from this situation.
See full details of the Vilma Gold closure at this link : Vilma Gold Gallery