simon de pury art market confidence

The article reports on the upcoming Art Basel in Miami Beach and the improved mood in the art market, driven by strong auction results. Sotheby's emerged as the clear winner over Christie's in the fall 2024 auctions, achieving over $2.2 billion in total sales across Sotheby's, Christie's, and Phillips. Key consignments included the Leonard Lauder Collection, featuring a record-making Klimt, a Frida Kahlo that became the highest-selling work by a woman artist, and Maurizio Cattelan's golden toilet. The article credits Sotheby's move into the Breuer building—formerly home to the Whitney, the Met, and the Frick—for enhancing the presentation and aura of the previews.

kenny schachter new york fair auction recap

Kenny Schachter's article for Artnet News draws a parallel between President Jimmy Carter's 1977 energy-crisis plea to lower thermostats and the current art-market response to Trump-era tariff turmoil. He reports that the spring 2025 auction cycle generated $1.25 billion, continuing a decade-long decline from the 2014 peak, with bidders spending less and big-ticket sellers stuck. Schachter also promotes his own no-reserve auction, "Hoarder #6," scheduled for July 8–17 at Phillips, and critiques Trump's economic policies and crypto ventures, name-dropping Justin Sun as a major holder of $Trump tokens.

‘I am very decisive’: designer Jennifer Gilbert on what she collects and why

Designer, entrepreneur, and philanthropist Jennifer Gilbert, based in Detroit, is selling select works from her contemporary art and design collections at Sotheby's in New York this spring to fund the opening of her own cultural space, Lumana, in Detroit's Little Village neighborhood. Highlights include Joan Mitchell's 1976 canvas *Loom II* (est. $5m-$7m) and Kenneth Noland's 1958 *Circle* (est. $4m-$6m), with proceeds supporting new generations of artists and institutions. Gilbert, who serves on the boards of Cranbrook Academy of Art and BasBlue, recently featured works from her collection in the exhibition *Seen/Scene* at the Shepherd art space.

This month’s blockbuster auctions in New York could bring upwards of $2.5bn

This month's May auctions in New York are projected to generate between $1.8 billion and $2.6 billion across Christie’s, Sotheby’s, Phillips, and Bonhams. Major highlights include the estates of legendary dealers Marian Goodman and Robert Mnuchin, with top lots such as Gerhard Richter's *Kerze (Candle)* (est. $35m–$50m) at Christie's and Mark Rothko's *Brown and Blacks in Reds* (est. $70m–$100m) at Sotheby's. Additional offerings include works from the late S.I. Newhouse collection, featuring Jackson Pollock's *Number 7A* and Constantin Brâncuși's *Danaïde*, each estimated at $100m, as well as pieces from the collections of Agnes Gund and Marilyn Arison.

The Venice Biennale’s Polite Fiction of Being ‘Above the Market’ Is Wearing Thin

The 61st Venice Biennale is underway, with art world figures flocking to Venice for the opening. While the Biennale is officially a non-selling curatorial platform, commercial interests are increasingly visible: galleries are funding artists' projects to recoup investments, auction houses like Christie's are hosting private selling exhibitions (including a 'Ghost Pavilion' at the Ca' Dario Palazzo), and fashion houses such as Bottega Veneta and Chanel are sponsoring events. Sotheby's has pulled support for the U.S. Pavilion, which is now crowdfunding, while Frieze is bankrolling the British Pavilion for a second time.

fog fair san francisco komal shah

At the opening of San Francisco's FOG Design and Art fair, prominent collector Komal Shah navigated the crowded aisles, stopping to chat with a who's who of the Bay Area art scene, including FOG founder Stanlee Gatti, ICA San Francisco director Ali Gass, and SFMOMA director Christopher Bedford. Shah, known for her collection focused on women artists, was scouting works with a handwritten list, considering pieces by Ruth Asawa and Joan Brown, though she passed on a $425,000 Asawa sculpture. The fair's gala serves as a fundraiser for SFMOMA, and Shah's collection is currently on view at the Berkeley Art Museum and Pacific Film Archive in the exhibition "Making Their Mark: Works from the Shah Garg Collection."

nada new york independent art fairs sales report

Two major New York art fairs—NADA New York and Independent—opened this week alongside Frieze and TEFAF, marking a crowded spring fair season. Despite a recent market downturn, both fairs reported strong attendance and early sales. NADA's executive director Heather Hubbs noted high-quality visitors and positive feedback on the new venue, while Independent founder Elizabeth Dee cited a 20% increase in opening-day attendance and robust buying from collectors and institutions. Sales ranged from lower-priced works under $50,000 to six-figure transactions, with galleries like Vielmetter Los Angeles, Andréhn-Schiptjenko, and Fleisher/Ollman Gallery reporting significant sales.

rebecca salsbury james

Rebecca Salsbury James, an artist who mastered reverse painting on glass and colcha embroidery, is gaining renewed attention. Born in 1891 in London to parents involved in the Buffalo Bill Wild West Show, she later moved to Taos, New Mexico, where she lived until her death in 1968. She was married to photographer Paul Strand, a close friend of Georgia O'Keeffe, and exhibited at Alfred Stieglitz's gallery. Recent milestones include her inclusion in the 2025 Site Santa Fe International, a new acquisition by the Georgia O'Keeffe Museum, and a record auction price for her work at Christie's in 2016.

uruguays only art fair wagers that it can create a new regional market force

Uruguay's only art fair, Este Arte, is preparing for its 12th edition from January 4-7 at the Vik Pavilion in José Ignacio. Founded by curator Laura Bardier, the fair features just 14 galleries, including returnees like Galería del Paseo and Xippas Galleries, and newcomers such as Almeida & Dale and Galerie Jocelyn Wolff. Despite its small scale, with works priced from $500 to $400,000 (most under $20,000), the fair has intentionally reduced its exhibitor list since its inaugural edition, focusing on quality over quantity.

untitled houston fair sales report

The inaugural edition of Untitled Art, Houston, opened with 88 galleries—half the size of its Miami Beach counterpart—and generated strong sales and high attendance. Los Angeles-based Megan Mulrooney sold out its booth entirely, while Sicardi | Ayers | Bacino led sales with a Carlos Cruz-Diez work for $415,000. Other notable transactions included a bronze piece by Clare Rojas for $150,000 at Jessica Silverman and two John Alexander paintings at McClain Gallery fetching $70,000–$125,000. Most galleries reported consistent mid-market sales in the $25,000–$50,000 range, with collectors from Houston, Dallas, Austin, the Bay Area, New Orleans, Los Angeles, and San Francisco actively acquiring.

artist estates

The article examines the growing role of artist estates in the art market, particularly for smaller and emerging galleries. While mega-galleries like Hauser & Wirth have long profited from managing blue-chip estates, a new wave of smaller galleries is now turning to overlooked and under-researched artists who died without established legacies. These galleries invest in building archives, cultivating institutional relationships, and reintroducing artists to contemporary audiences, often at more accessible price points with significant room for growth. Examples include Gunia Nowik Gallery working with the estate of Polish artist Krzysztof Jung and Gianni Manhattan representing Estonian sculptor Anu Põder.

sothebys newly relocated to the breuer building reintroduces itself to new york

Sotheby's has relocated its New York headquarters to Marcel Breuer's iconic Brutalist building on Madison Avenue, formerly home to the Whitney Museum, the Met Breuer, and a Frick Collection outpost. After a renovation by Herzog & de Meuron that restored original gallery proportions and upgraded infrastructure, the auction house is inaugurating the space with a series of exhibitions featuring three major single-owner collections—Leonard A. Lauder, Cindy and Jay Pritzker, and Exquisite Corpus—estimated at over a billion dollars. Highlights include Gustav Klimts from the Lauder trove, a Van Gogh still life from the Pritzker collection, a Frida Kahlo painting expected to set a record for a woman artist, and a Basquiat work in the contemporary evening sale.

christies 21st century auction may 2025 marlene dumas

Christie's 21st century evening sale on May 14, 2025, generated $96.4 million against a presale low estimate of $79.5 million, with 39 lots offered and a sell-through rate of 90% before withdrawals. The top lot was Jean-Michel Basquiat's 'Baby Boom' (1982), which sold for $23.4 million with fees, consigned by collector Peter M. Brant. Marlene Dumas's 'Miss January' (1997) achieved $13.6 million, setting a new record for the most expensive living female artist, surpassing Jenny Saville's previous record. Other notable sales included Simone Leigh's 'Sentinel' (2020) at $5.7 million, while works by Ellsworth Kelly and Felix Gonzalez-Torres failed to sell.

marlene dumas record women artist christies sale

Marlene Dumas set a new auction record for the most expensive living female artist when her 1997 painting *Miss January* sold for $13.6 million at a Christie’s evening sale. The work, featuring a nude woman with a ghostly white face, was pre-sold with a third-party guarantee. Other women artists also broke personal records that night, including Simone Leigh (sculpture for $5.7 million) and Emma McIntyre (painting for $201,000). However, the top five priciest works of the week were all by men: Claude Monet, Pablo Picasso, Alberto Giacometti, René Magritte, and Piet Mondrian, with Mondrian’s *Composition with Large Red Plane, Bluish Gray, Yellow, Black and Blue* selling for $47.6 million.

‘Really encouraging’: Phillips’s modern and contemporary sale continues New York auction momentum

Phillips’s modern and contemporary evening sale on 19 November generated nearly $54.8 million ($67.3 million with fees), a 25% increase over the same sale last year. Out of 33 lots, only two failed to sell, achieving a 94% sell-through rate. The top lot was Francis Bacon’s *Study for Head of Isabel Rawsthorne and George Dyer* (1967), which hammered at $13.5 million, followed by an untitled Joan Mitchell work from 1957-58 at $12 million. The sale also included natural history objects for the first time, such as a juvenile Triceratops skeleton nicknamed 'Cera,' which sold for $4.35 million. Female artists performed strongly, with Ruth Asawa’s copper wire sculptures sparking lengthy bidding wars and Firelei Báez setting a new artist record that was later broken at Christie’s the same evening.

Old Masters Records: Gentileschi, Michelangelo, Rembrandt

old masters records gentileschi michelangelo rembrandt

Old Masters Week in New York saw a resurgence in the sector, highlighted by the Italian Ministry of Culture's $14.9 million private acquisition of a rare two-sided panel by Antonello da Messina from Sotheby’s. The week featured high-profile sales at both Sotheby’s and Christie’s, resulting in new auction records for major figures including Artemisia Gentileschi and Michelangelo, as well as a record price for a Rembrandt drawing. The success was attributed to a high level of museum participation and more realistic pricing strategies compared to previous seasons.

tanya bonakdar gallery closes los angeles

Tanya Bonakdar Gallery is closing its Los Angeles location after seven years, with the final exhibition being a solo show for Ben Hyunjin that ends on August 29. The gallery, which opened on Highland Avenue in 2018, decided not to renew its lease, citing a natural pause to assess its accomplishments in the city. The closure follows recent shutdowns of other LA galleries, including Blum and Clearing.

The Great Indian Art Mafia

The Indian art market has undergone a dramatic transformation, shifting from a selective market with works priced between Rs 5-25 crore to a high-stakes arena where record-breaking sales are now common. Between 2023 and 2025, multiple works crossed the Rs 50-100 crore threshold, with M.F. Husain's 'Gram Yatra' (1954) achieving the highest price to date at approximately Rs 118 crore, acquired by the Kiran Nadar Museum of Art. The market has expanded to over Rs 3,000 crore, with projections of Rs 10,000 crore by 2030.

Rothko from Robert Mnuchin’s Estate Sells for $85.8 M., Leading Sotheby’s New York’s $433.1 M. Contemporary Art Sale

Sotheby’s New York held a $433.1 million modern and contemporary art sale at its Madison Avenue headquarters, led by Mark Rothko’s *Brown and Blacks in Reds* (1957), which sold for $85.8 million. The auction opened with 11 works from the estate of legendary dealer Robert Mnuchin, totaling $166.3 million, including a second Rothko and pieces by Willem de Kooning, Franz Kline, and Pablo Picasso. The contemporary art segment followed, with Jean-Michel Basquiat’s *Museum Security (Broadway Meltdown)* (1983) selling for $52.7 million. The overall sale was described by advisers as robust but not particularly exciting, and it significantly exceeded the $186.1 million equivalent sale from last year.

The Venice Biennale has long been a sales platform—now no one is pretending otherwise

The Venice Biennale, traditionally a government-subsidized non-commercial institution where sales were downplayed, is experiencing an unprecedented open embrace of commerce. For the first time, Christie's is hosting an invitation-only selling exhibition in Venice, offering works ranging from Old Masters like Lucas Cranach to Modern and contemporary giants such as Andy Warhol, Louise Bourgeois, and Mark Bradford, with prices from $500,000 to over $35 million. Dealers, auction houses, and private foundations are openly pricing and selling works to collectors, spurred partly by Italy's reduced 5% VAT rate on art imports, now Europe's lowest.

robert frank june leaf studio market

The longtime New York City residence and studio of legendary photographer Robert Frank and sculptor June Leaf has been listed for sale at $6.5 million. Located at 7 Bleecker Street in NoHo, the 209-year-old Federal-style townhouse served as the couple's creative base for over four decades, maintaining a raw, unfinished aesthetic that mirrored their artistic sensibilities. Despite its significant art-historical pedigree, the real estate listing omits the artists' names, instead marketing the property as a redevelopment opportunity with significant buildable square footage.

drawing of foot michelangelo record christies

A previously unknown red-chalk drawing by Michelangelo, a study for the foot of the Libyan Sibyl from the Sistine Chapel ceiling, sold for $27.2 million at Christie’s New York on Thursday, far exceeding its $1.5–$2 million estimate. The work was submitted to Christie’s online estimate portal last March by an anonymous owner who inherited it from their grandmother; it had hung on a wall for years, assumed to be a copy. After months of authentication using infrared reflectography and cross-referencing with drawings at the Metropolitan Museum of Art and the Uffizi Gallery, Christie’s specialists confirmed it as an authentic Michelangelo. The sale set a new auction record for the artist, surpassing the previous $24.3 million record set at Christie’s Paris in 2022.

magritte bucksbaum collection sothebys sale

At Sotheby’s Modern evening auction, René Magritte’s 1942 painting *Le Jockey perdu*—which the artist considered a turning point in his career—sold for over $12.3 million, exceeding its high estimate. The work was part of a group of ten consignments from the estate of shopping mall magnate Matthew Bucksbaum and his wife Carolyn “Kay” Bucksbaum, influential collectors and philanthropists who met on a blind date in 1952. Alongside works by Salvador Dalí, Jean Dubuffet, Paul Klee, and Joan Miró, the evening sale netted more than $25 million, with remaining pieces appearing in subsequent day sales.

sothebys matthew carolyn bucksbaum magritte jean dubuffett

Sotheby's will sell ten works from the Matthew and Carolyn Bucksbaum collection in its fall auctions, with six pieces by René Magritte, Jean Dubuffet, Salvador Dalí, Joan Miró, and Paul Klee featured in the Modern Evening auction on November 20. The group of six works carries a total estimate of $18 million to $24 million, led by Magritte's *Le Jockey perdu* (1942) at $9–12 million and Dubuffet's *Restaurant Rougeot II* (1961) at $6–8 million. Sotheby's executives Julian Dawes and Grégoire Billault emphasized the rarity and importance of these works, noting that the Magritte is the only oil version of its subject and the Dubuffet is one of just three paintings of the iconic Paris restaurant.

sothebys to open its new breuer building hq on november 8 with blockbuster exhibition

Sotheby's has announced November 8 as the opening date for its new headquarters in the iconic Breuer Building at 945 Madison Avenue, New York. The auction house purchased the building from the Whitney Museum in 2023 and commissioned Pritzker Prize-winning architects Herzog & de Meuron, along with PBDW Architects, to renovate the landmarked structure. The opening will feature a blockbuster exhibition of modern and contemporary art, followed by major sales the week of November 17. The building, designed by Marcel Breuer and completed in 1966, previously housed the Whitney Museum, the Metropolitan Museum of Art, and the Frick Collection.

bronze rhinoceros desk francois xavier lalanne sothebys

A life-size bronze rhinoceros desk by François-Xavier Lalanne, titled *Grand Rhinocéros II* (2003), sold for $16.422 million at Sotheby’s Important Design day sale in New York on June 11. The piece, which measures over four feet wide and 8.5 feet long, had a pre-sale estimate of $3–5 million. After 45 bids over 13 minutes, it hammered at $13.75 million, with the final price including buyer’s premium. The sculpture was the first of eight editions and had been acquired from Galerie Mitterand in Paris in 2003.

Five Groundbreaking Postwar Women Artists Lead New York’s Fall Art Season

New York's fall art season features five major exhibitions dedicated to groundbreaking postwar women artists, timed with the November auctions. Shows include Louise Bourgeois at Hauser & Wirth, a Joan Mitchell focus at David Zwirner, and MoMA's long-awaited Ruth Asawa retrospective. The article cites the 2025 Art Basel and UBS Report showing women artist representation in galleries rose to 41% in 2024, with sales growth correlating to higher representation. Artnet data notes 13 women among the top 100 auction sellers in early 2025, up from 10 the prior year.

Sotheby’s Unveils Plans for Breuer Building, Announces Opening Date

Sotheby's will open its new global headquarters in the Marcel Breuer–designed building at 945 Madison Avenue on November 8, 2025, after a renovation by Herzog & de Meuron with local partner PBDW Architects. The Brutalist landmark, originally completed in 1966 for the Whitney Museum of American Art, later housed the Met Breuer and the Frick Collection during its renovation. The project restores Breuer's original open gallery floors, adds state-of-the-art lighting and climate control, and preserves period details like the lobby's domed ceiling lights. The opening will feature a free public exhibition of Modern and Contemporary art ahead of marquee auctions starting November 17, with design sales and Luxury Week following on December 5, and a fine-dining restaurant by Roman and Williams opening later in the winter.

Swiss mega gallery tied to Laurene Powell Jobs to open in Palo Alto near her offices

Hauser & Wirth, the Swiss mega-gallery, will open its first Northern California location this spring in downtown Palo Alto, inside a former post office at 201–225 Hamilton Ave. The move is widely seen as a bid to be closer to Silicon Valley clients, particularly billionaire philanthropist Laurene Powell Jobs, whose Emerson Collective offices are two blocks away. Powell Jobs, rumored to be one of Hauser & Wirth's top clients, shifted her business from Pace Gallery to Hauser & Wirth in 2022. The renovation is led by Paris-based architect Luis Laplace, who is also designing Powell Jobs' renovation of the San Francisco Art Institute. The gallery will be the third Hauser & Wirth in California, joining two Los Angeles locations.

Hauser & Wirth Heads to Palo Alto as Mega-Galleries Target Silicon Valley

Hauser & Wirth has announced plans to open a new gallery in Palo Alto, California, in spring 2026. The location, a historic former post office at 201–225 Hamilton Avenue, will offer 2,600 square feet of exhibition space, a bookshop, and a program of talks and events. Designed by architect Luis Laplace, it will be the gallery's sixth U.S. outpost and its third in California, joining existing spaces in downtown Los Angeles and West Hollywood. The expansion comes as the broader art market faces contraction, but mega-galleries continue targeting wealthy collector hubs like Silicon Valley.