Speaking of Los Angeles:
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"L.A. is more than catching up to New York—in some ways, it's moving past it," says Agnes Gund, a prominent New York-based art collector who used to run the board of trustees at New York's Museum of Modern Art and served on the board of Los Angeles's J. Paul Getty Trust for 12 years until 2006.

In June, Jeffrey Deitch, one of New York's most powerful gallery owners, relocated to Los Angeles to become the director of the city's Museum of Contemporary Art, a rare move from the private art-dealing sphere to the museum world. The owners of the Armory Show, New York's largest art fair, are putting together a major art fair to debut in downtown L.A. next fall.

"The art world is a very fluid place, but there is no question that L.A. is very hot at the moment," says Glenn Lowry, the director of the Museum of Modern Art in New York.
Wall Street Journal

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