Three prominent figures in the art world are joining forces to create a revolutionary new gallery focused on secondary-market sales. Pace Gallery, Emmanuel Di Donna, and David Schrader announced the formation of Pace Di Donna Schrader Galleries, known as PDS, which will begin operations in spring 2026 with a formal space opening on New York's Upper East Side in the summer.

The collaboration represents a significant shift in how major art dealers approach business, emphasizing cooperation over competition. Pace CEO Marc Glimcher has long advocated that the art world's growth depends on genuine innovation, and he believes progress will come from combining strengths rather than continuing old rivalries. "The obsession with competition has gotten us into a low margin, high overhead arms race that benefits neither the artists nor the clients," Glimcher told ARTnews in an email.

Each partner brings unique strengths to the venture. Di Donna contributes museum-grade expertise from one of New York's most sophisticated secondary-market galleries. Pace provides global spaces, deep estate relationships, and a half-century of institutional credibility. Schrader, who spent a decade building Sotheby's private sales division, offers extensive auction house experience and strategic market insight.

The new gallery is designed as what Schrader calls "a strategic and structural response to a market that has outgrown its old architecture." PDS is not a traditional merger but rather what Di Donna describes as "a holistic experience that brings auctions, private sales, collection building, finance, and institutional relationships under one roof." This boutique operation will have global reach backed by the combined reputation and resources of three industry heavyweights.

The venture addresses what the founders see as a fundamental problem in the high-end art market. Glimcher noted that Pace, Di Donna, and Schrader have "pioneered a collaborative model which embraces the art world networking relationships," adding "That's the future." The gallery plans to launch with a major historical exhibition scheduled for autumn 2026, following the summer opening of their Upper East Side location.

This innovative approach could signal a broader transformation in the art world's upper tier, where resistance to cooperation has traditionally been viewed as a weakness. If PDS succeeds in demonstrating the benefits of collaboration over competition, it may inspire similar partnerships and reshape how major galleries operate in an increasingly complex and globalized art market.