Pace, Emmanuel Di Donna, and David Schrader Announce New Megagallery
57Dec. 3, 2025
A trio of art-world stalwarts are joining forces to form a global gallery devoted to selling artwork on the secondary market.Pace Gallery,Di Donna GalleriesownerEmmanuel Di Donna, andDavid Schrader, an executive vice president and chairman of global private sales atSotheby’s, are teaming up to create Pace DiDonna Schrader (PDS). Headquartered on New York’s Upper East Side but targeting international markets, the new operation will commence business in spring 2026. The gallery will officially open in the summer, and will mount its first exhibition of historical works in the fall.
The gallery’s arrival comes amid significant shifts in the art market and the global economy, which have changed the way people purchase art and what they buy. In setting their sights on the secondary market, PDS’s founders plan to tap what they see as an underused vein. “There are no great, great secondary galleries anymore,” Pace CEOMarc Glimchertold theNew York Times, citingAcquavella Galleriesas an exception.
Pace, which in addition to its New York flagship operates outposts in Los Angeles, London, Geneva, Berlin, Seoul, and Tokyo, brings to the table established relationships with a large roster of postwar artists and estates, while Di Donna, a onetime vice chairman of Sotheby’s Impressionist and Modern art worldwide, will contribute expertise in Surrealist, modern, and postwar art. Di Donna will also provide the new operation’s infrastructure and guide its curatorial mission, as his gallery’s team movies into the PDS headquarters. Schrader, who is leaving Sotheby’s to help launch PDS, is known for his ties to a raft of deep-pocketed collectors and for his ability to structure large-scale transactions.
“For more than two decades, Marc, David, and I have collaborated informally whenever a work, a collection, or a museum project called for a shared perspective,” said Emmanuel Di Donna in a statement. “Formalizing that partnership now feels both natural and timely. Together, we’ll be able to offer collectors a truly holistic experience—one that brings every resource under one roof: curatorial insight, market expertise, guidance on acquisitions and deaccessions, and long-standing relationships with institutions around the world. This venture allows us to support our clients with the depth, rigor, and continuity that great masterworks deserve.”