The Melbourne Art Fair, after nearly thirty years of operation, is closing down because of its “failure to attract international collectors, little national interest, and the withdrawal of three major galleries [Melbourne’s Anna Schwartz and Tolarno Galleries; Roslyn Oxley in Sydney] from exhibiting,” says Melissa Davey of The Guardian.

The announcement was made last Friday by the Melbourne Art Foundation’s chairwoman Anna Pappas, who said that the foundation’s board was unanimous in its decision of discontinuing what is perceived by many as a subpar event.

The board will meet in the coming days to make a decision as to whether or not the events scheduled with the fair will continue. And indeed, Pappas, has hopes to bring the fair back one day: “It’s not the size of the fair that matters to the public, it’s the quality, and we need to take some time and reflect on how we can adopt a new model to make sure any fair in the future maintains our reputation,” she said.