A Gallery That Helped Create the American Art World Closes Shop After 165 Years

After 165 years, Knoedler & Company, one of the oldest and most prestigious art galleries in the country, is permanently closing its doors. Opened at a time when there were no major museums in New York, Knoedler helped shape the tastes as well as decorate the homes of America’s new class of wealthy barons.

Although the gallery’s history is long and expansive, its statement Wednesday evening about closing was short and sudden: “It is with profound regret that the owners of Knoedler Gallery announce its closing, effective today. This was a business decision made after careful consideration over the course of an extended period of time. Gallery staff will assist with an orderly winding down of Knoedler Gallery.”

Nothing was said about what will happen to one of Knoedler’s most valuable properties: an enormous library that includes letters, photographs, sale records, stock books and catalogs going back to 1863....