Something’s happening in the rarefied, it’s-who-you-know world of art dealing. It’s taking place in warehouses, former dairies, untenanted town houses, lofts in old factories and out-of-the-way galleries in cities around the world.  The exhibits are timed to coincide with international art fairs and fashion weeks, and they feature exuberant painters, like Nicolas Pol and Ouattara Watts, likely to appeal to younger, newer collectors. But they’re also meant to draw hundreds of cool kids who may not have the money to buy–but who help turn the champagne and DJ-heavy opening night fetes into a small sensation. “I wanted to be much more open-minded than most galleries have been until now,” says Vladimir Restoin Roitfeld, the impresario behind the act. “I am fortunate to have some very good friends.”  He should, considering his charmed pedigree. Roitfeld is the privileged child of former French Vogue editor Carine Roitfeld and her fashion magnate partner, Christian Restoin. His “friends” include some impressive sponsors that cover 80% of the extravagant costs of half his shows. Among the benefactors: Louis Vuitton, Armani and VistaJet.  That’s a novel approach to selling art–and some in the business scoff at Roitfeld. One well-known critic derides his choice of artists as “a laughingstock.” Still, Sotheby’s is taking him seriously enough to host a show, “Hue & Cry,” that features 20 mostly unknown artists at S|2 gallery, its Upper East Side site for global contemporary art.  It’s Roitfeld’s sixth show this year, selling works priced from $30,000 to $150,000 in New York, Dallas, Istanbul and São Paulo. In the past he has found venues in London, Paris, Cannes, Moscow and Milan.  But the Sotheby’s show, which opened Oct. 5, is something of a make-or-break gig. “He’s putting his reputation on the line,” says Gregory Linn, a principal at Linn Press Art Advisory Services. “If he puts up this show and nobody buys anything, that’s not good.”  Works of more established painters like Cecily Brown and the late Joan Mitchell will probably sell. (Sotheby’s says private-treaty prices range from $10,000 to $1 million-plus.) It’s the lesser-known names–like Angel Otero and Ali Banisadr–who, if they notch high prices, can help turn Roitfeld into a contender. If not, it may confirm the predictions of his detractors.  Raised in Paris, Roitfeld moved to L.A. at age 18 to study film at the University of Southern California. Disillusioned with Hollywood months after landing a job at Paramount, he hit Manhattan in early 2008 and then teamed up with young Australian heir Andy Valmorbida to stage exhibits in large venues off the beaten path, where the crowds and loud music wouldn’t afflict the neighborhood. (Roitfeld and Valmorbida had what each insists was an amicable split in 2011.)  Success? Roitfeld claims 80% of the artwork typically sells on opening night–astonishing, considering that established dealers sell closer to 20% to 25%. Whatever the case, he usually keeps half the take from the artist and will clear more than an estimated $400,000 pretax on revenue of $2 million this year.  Days before the opening Roitfeld puts on nonchalance, saying he just wants “a beautiful show.” Serge Azria, CEO of Joie and a family friend, knows better. Roitfeld, he says, is actually very ambitious. “He wants to succeed.”  Follow me on Twitter: @HannahElliott  Follow me on Facebook: Hannah Elliott  See the historic Forbes 400 print issue. Subscribe here.
A fashion scion is trying to upend the business of art dealing, with international venues, big parties and even bigger sponsors. It just may work.