At Frieze New York, Business Plunks Along, Leonardo DiCaprio Alights

At the VIP opening of Frieze New York, collectors were present but subdued, with galleries presenting modest displays and sales proceeding at a sensible, sedate pace. Despite the lack of urgency, business has improved since last year, buoyed by upcoming top-tier auctions. Thaddaeus Ropac confirmed four early sales, including a George Baselitz canvas for €1.4 million and an Alex Katz work for $400,000. David Zwirner’s booth of Joe Bradley paintings was among the buzziest, with all works on hold by early afternoon, while Cindy Sherman photographs at Hauser & Wirth sold steadily. Leonardo DiCaprio made visits, and Kelly Sinnapah Mary’s paintings at James Cohan Gallery sold out, the largest to a museum.

berlin mehdi chouakri gallery temporary pause

Berlin’s Galerie Mehdi Chouakri announced a temporary pause from exhibitions after nearly thirty years and around 250 shows. Owner Mehdi Chouakri cited personal reasons and the increasing demands of the traditional primary market model. The gallery will continue to represent its estates and living artists through collaborations, and may mount a new exhibition as soon as fall 2025. The pause follows a difficult year for galleries globally, with several high-profile closures and retrenchments.

christies 2025 sales results uptick

Christie's and Sotheby's have released their projected 2025 sales results, signaling a potential recovery after three years of market contraction. Sotheby's reported total sales of $7 billion, a 17% increase over 2024, with fine art up 15% to $4.3 billion. Christie's posted $6.2 billion, a 6% rise from $5.8 billion in 2024, bolstered by $234 million from its Gooding acquisition. Notable sales include Canaletto's Venice, the Return of the Bucintoro on Ascension Day for £31.9 million at Christie's and a Gustav Klimt painting that sold for $236 million at Sotheby's.

gust klimt 100 million club

Sotheby's is offering Gustav Klimt's "Portrait of Elisabeth Lederer" (1914-1916) from the estate of the late collector and philanthropist Leonard Lauder with an asking price exceeding $150 million. The consignment also includes two Attersee landscapes valued at over $70 million and $80 million respectively, potentially generating over $300 million from just three lots. This sale follows Ronald Lauder's record-setting $135 million private purchase of Klimt's "Portrait of Adele Bloch-Bauer I" in 2006, and is guaranteed to set a new auction record for the artist, surpassing the current $108.8 million benchmark.

Phillips’ $115.2 Million Evening Sale Was a Testament to the Power of Pre-Planning and Priority Bidding

Phillips’ Modern & Contemporary Art Evening Sale on May 19 achieved a white-glove result, totaling $115.2 million across 41 lots—a 122 percent increase from May 2025. The sale saw strong performances from works by Lee Bontecou, Salman Toor, and Cecily Brown, with Bontecou’s 1985 pastel on canvas setting a record for a two-dimensional work by the artist at $4.2 million. Other top lots included Andy Warhol’s *Sixteen Jackies* (1964) at $16.2 million, a Monet landscape at $9.3 million, and a Joan Mitchell at $6.9 million. Notably, less than half of the lots were guaranteed, with Phillips’ Priority Bidding incentive—offering a 4 percent discount on buyer’s premium—contributing to the strong results, as more than half of the lots attracted such bids.

Sotheby’s $433 Million Contemporary Evening and Mnuchin Sales Kicked Off New York’s May Marquee Auctions

Sotheby's held two major evening sales in New York—the Mnuchin collection sale and The Now & Contemporary Evening Auction—generating a combined $433.1 million. The Mnuchin sale achieved a white-glove result of $166.3 million, led by Mark Rothko's *Brown and Blacks in Reds* (1957) which sold for $85.8 million, while the contemporary auction reached $266.8 million, with Jean-Michel Basquiat's *Museum Security (Broadway Meltdown)* as the top lot. The results fell within presale estimates but marked a 133% increase over last May's contemporary sales.

Sotheby’s Evelyn Lin On Asia’s Maturing Market, Young Collectors and the New Rules of the Hong Kong Sale

Sotheby’s recently concluded its spring marquee auctions in Hong Kong, generating a combined total of HK$711.8 million ($91.2 million). The sales were anchored by the success of Joan Mitchell’s 'La Grande Vallée VII,' which sold for $17.6 million, and achieved a nearly 100 percent sell-through rate by value. The performance was bolstered by the auction house's new 'Maison' headquarters, a dual-level retail and exhibition space that attracted over 44,500 visitors in the lead-up to the sales.

Sotheby’s May Auctions: Rothko’s $100M Masterpiece Headlines

Sotheby's is holding its most ambitious May auction series in New York, headlined by Mark Rothko's monumental painting *Brown and Blacks in Reds* (1957), estimated at $70–100 million. The sales include a dedicated auction for the collection of legendary dealer and collector Robert Mnuchin, valued at over $130 million, featuring works by Rothko, Franz Kline, and Jeff Koons. Other highlights include Jean-Michel Basquiat's *Museum Security (Broadway Meltdown)* (1983), estimated at over $45 million, and Willem de Kooning's *Untitled III* (1975), making its auction debut with a $25–35 million estimate. The series spans Modern and Contemporary art, with additional works by Pablo Picasso and Vincent van Gogh.

paula modersohn becker degenerate doubles auction record

A 1906 self-portrait by German modernist Paula Modersohn-Becker, titled *Selbstbildnis nach halblinks (Self-Portrait Looking Slightly Left)*, sold for €1.3 million ($1.5 million) at Berlin's Grisebach auction house on Thursday—more than quintupling its low estimate and more than doubling the artist's previous auction record. The work was acquired by an unnamed European private collector. The painting had previously been seized by the Nazis as "degenerate" art from the St. Annen Museum in Lübeck and was later acquired by the collector Bauer, who aimed to rehabilitate persecuted artists.

sothebys lauder day sale

Sotheby's held a day sale on Wednesday featuring 30 works from the collection of cosmetics heir Leonard Lauder, generating $3.84 million against an estimate of $2.22 million to $3.29 million. The sale followed a strong Tuesday auction led by a Gustav Klimt portrait from Lauder's collection that achieved the second-highest price ever for an artwork at auction. Standout results included works by Dorothea Rockburne, Elizabeth Murray, and Lyonel Feininger that far exceeded their estimates, while a Claes Oldenburg sculpture sold for $444,500, the top price of the day.

leonard lauders klimt painting fetches sothebys

A Gustav Klimt painting, *Portrait of Elisabeth Lederer* (1914), sold for $236.4 million at Sotheby’s in New York, setting a new auction record for the artist and becoming the most expensive work ever sold at Sotheby’s as well as the most expensive Modern artwork at auction. The work was part of a sale dedicated to the collection of the late art patron Leonard Lauder, who died in June at age 92. The bidding lasted about 20 minutes, with Sotheby’s auctioneer Oliver Barker opening at $130 million; the winning bid of $205 million came from Sotheby’s staffer Julian Dawes, representing a phone client. The sale included two dozen works from Lauder’s trove, which also featured three Klimt paintings and six Henri Matisse bronzes.

Basquiat's 'Museum Security' to Headline Sotheby's May 2026 Contemporary Evening Auction

Jean-Michel Basquiat’s monumental 1983 painting 'Museum Security (Broadway Meltdown)' is set to headline Sotheby’s Contemporary Evening Auction in May 2026. Estimated to fetch in excess of $45 million, the work is appearing at auction for the first time in over a decade. Before the sale, the canvas will undergo a global tour with stops at the Breuer building in New York, Hong Kong, Los Angeles, and London.

Consonni Radziszewski Launches With a Three-City Footprint

Dealers Matteo Consonni and Dawid Radziszewski have merged their respective galleries, Madragoa in Lisbon and Galeria Dawid Radziszewski in Warsaw, to form a single entity: Consonni Radziszewski. The new gallery launched with a third physical space in Milan, timed to coincide with the city's art week and the Venice Biennale. This merger follows a three-year period of collaboration on art fair booths and joint artist representation, specifically for photographer Joanna Piotrowska.

Art Basel’s Swiss Fair Will Include a New Initiative Where Galleries Will Withhold Works from Their PDF Previews

Art Basel has announced a new initiative called "Basel Exclusive" for its upcoming Swiss fair, running June 18–21 with VIP previews June 16–17. Under the program, participating galleries will withhold at least one artwork—or even their entire booth—from the PDF previews sent to clients ahead of the fair, encouraging collectors to visit in person. So far, 170 of 232 exhibitors (nearly 75%) have signed on, including major galleries like Gagosian, Hauser & Wirth, Pace Gallery, David Zwirner, Gladstone, Lehmann Maupin, Lisson, Matthew Marks, Paula Cooper, Thaddaeus Ropac, and White Cube, as well as secondary-market dealers such as Galerie 1900-2000, Helly Nahmad, Landau, Mayoral, Pace Di Donna Schrader, and Van de Weghe. Art Basel’s chief artistic officer Vincenzo de Bellis described it as a "gallery-led process" developed from conversations with exhibitors, formalized during Art Basel Hong Kong.

cleveland museum of art acquires giambologna

The Cleveland Museum of Art has acquired Giambologna's marble sculpture *Fata Morgana* (ca. 1572), believed to be the last marble work by the Flanders-born Italian Mannerist in private hands. The piece, which depicts a nude woman emerging from a grotto, was originally commissioned by banker Bernardo Vecchietti and remained with his family for 200 years before being sold in 1775. It was misattributed for centuries until London dealer Patricia Wengraf correctly identified it at a 1989 Christie's auction, purchasing it for £715,000. The museum acquired the sculpture for an undisclosed price, making it only the second Giambologna marble in the U.S. and one of just three outside Italy.

Uncertainty in the Art Market is Currently Extreme

"Im Moment ist die Verunsicherung auf dem Kunstmarkt extrem"

Prominent Cologne gallerist Gisela Capitain is celebrating her 40th anniversary amid a period of significant market volatility. In recent interviews, she reflects on her career—defined by long-term artist relationships like that with Martin Kippenberger—while critiquing the current state of the art world. She notes that buyers have become increasingly hesitant and deliberate, describing the current level of uncertainty in the art market as extreme and calling for reforms to institutions like Art Cologne.

Gustav Klimt portrait sells for about R4 billion, breaking modern-art auction records

Gustav Klimt's portrait "Portrait of Elisabeth Lederer" (1914–1916) sold for $236.4 million (about R4 billion) at a Sotheby's auction in New York, becoming the most expensive modern artwork ever sold at auction and the second most expensive painting in history, behind only Leonardo da Vinci's "Salvator Mundi." The sale, which featured works from the estate of billionaire collector Leonard Lauder, unfolded in a tense 20-minute bidding war among six collectors. The painting had been hidden from public view since the 1980s. The same auction also saw Maurizio Cattelan's 18-karat gold toilet "America" sell for over $12 million.

Gustav Klimt portrait sells for $236.4m, making it the second most expensive artwork ever sold at auction

Gustav Klimt's "Portrait of Elisabeth Lederer" sold for $236.4 million at Sotheby's New York on Tuesday night, becoming the second most expensive artwork ever sold at auction and the most expensive modern artwork ever auctioned. The six-foot-tall painting, created between 1914 and 1916, depicts the young heiress and daughter of Klimt's patrons. Six bidders competed for 20 minutes before the work was sold, though Sotheby's declined to name the buyer. The painting had been looted by the Nazis during World War II, returned to the Lederer family in 1948, and later acquired by Estée Lauder heir Leonard A. Lauder in 1985. Lauder died in June at age 92, and the sale was part of his collection auction that fetched $575.5 million total.

citizen kane rosebud sled auction

Heritage Auctions sold one of the last surviving Rosebud sleds from the 1941 film *Citizen Kane* for $14.75 million on July 16. The prop, made of pine hardwood with a red seat stenciled with “ROSEBUD,” came from the collection of director Joe Dante, who received it in 1984 from a crew member clearing out an old RKO Pictures lot. The sled was radiocarbon-dated to verify its authenticity. The sale makes it the most expensive Rosebud sled ever sold at auction and the second most valuable piece of movie memorabilia, after the ruby slippers from *The Wizard of Oz*.

Lauder heir hands gallery and $135mn Klimt to New York’s Metropolitan Museum

The Metropolitan Museum of Art in New York has received a major donation from the Lauder family: a historic townhouse gallery on the Upper East Side and Gustav Klimt's 1907 portrait "Adele Bloch-Bauer II," valued at $135 million. The gift comes from the estate of Estée Lauder heir Ronald S. Lauder, a longtime museum trustee and collector, and includes the former Neue Galerie building at 1048 Fifth Avenue, which will be renovated to expand the Met's modern and contemporary art exhibition space.

Christie’s sale confirms it: Indian art has arrived on the world stage

Christie's achieved a rare 'white-glove' sale in its Modern and Contemporary South Asian Art auction, selling all 84 lots for $12.38 million—150% above the low estimate. The sale was led by Vasudeo Gaitonde's *Untitled (1984)* at $2.4 million, with strong bidding from India, the US, the UK, the UAE, and Singapore. New artist records were set for Sheikh Mohammed Sultan and Ivan Peries, while works by Rashid Choudhury and Biren De also drew intense interest. The auction, overseen by Nishad Avari, head of Christie's Indian art department, signals a broadening of the market beyond established modernists like M.F. Husain and S.H. Raza.