Mathieu Borysevicz, founder of Shanghai's Bank gallery, launched a six-month pop-up on New York's Lower East Side earlier this year, aiming to introduce his program to new audiences amid growing Asian art interest in the city. By mid-summer, however, Borysevicz observed a sharp market downturn as collectors withdrew, reflecting a broader trend of gallery closures, lawsuits, and fair cancellations that have marked a turbulent period for the art world.
Art Basel 2025 opened in Basel with VIP previews, featuring a mix of high-priced works like Félix González-Torres's $16 million performance piece and Yu Nishimura's fresh-to-market triptych at €375,000. The fair adapts to a shifting market with lower price points, faster decisions, and new sectors like Premiere for ultra-contemporary art, alongside global expansion including a new fair in Doha. Satellite events like Liste and the Basel Social Club offer alternative experiences, while curated booths, such as Gagosian's 30th-anniversary presentation, blend curatorial idealism with the fair format.
The article, part of Artnet's Intelligence Report, profiles the rise of a new generation of art collectors, exemplified by Justine Freeman, granddaughter of legendary patron Betty Freeman. It highlights how millennials and Gen Z, who accounted for a quarter to a third of bidders at major auction houses in 2024, are reshaping the market by focusing on ultra-contemporary artists like Jadé Fadojutimi and Hilary Pecis, as well as nontraditional collectibles such as sneakers and Hermès bags. Notable sales include Maurizio Cattelan's banana artwork "Comedian" for $6.2 million to a 34-year-old crypto entrepreneur.
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.
Ceramics are experiencing a surge in visibility across museums, galleries, and art fairs in major US cities. The article catalogs numerous recent and upcoming exhibitions, including Kathy Butterly's sold-out show at James Cohan with pieces at $45,000 each, Nicole Cherubini's nearly sold-out show at Friedman Benda with prices up to $65,000, and Ruby Neri's work at Salon 94 peaking at $75,000. Other highlights include Ron Nagle at Matthew Marks, Theaster Gates' Gagosian show celebrating David Drake, NADA Ceramics in Tribeca, and ceramic presentations at Frieze Los Angeles, Post-Fair, Expo Chicago, and David Zwirner. Institutional shows include Toshiko Takaezu at Princeton University Art Museum and a ceramic collection at RISD Museum.
Vanity Fair profiles 33 emerging art stars who have broken into the upper echelon of the art world within the last five years, despite a contracting art market. The feature, written by Nate Freeman and photographed by Jeff Henrikson, highlights artists like Jadé Fadojutimi, Anna Weyant, and Chase Hall, whose work commands high prices and long waiting lists from top collectors. The selection was based on research including gallerist interviews, museum acquisitions, auction results, and dealer insights.
A once-common sales tactic in the contemporary art market, known as "buy-one, give-one" or "bogo," has significantly declined. Under this arrangement, collectors gained preferential access to in-demand artists' paintings by agreeing to purchase two works and donating one to a museum. The practice peaked from 2021 to 2023, with institutions like the Metropolitan Museum of Art and the Institute of Contemporary Art, Miami, acquiring works this way.
A landmark collection of Benjamin Franklin memorabilia assembled by sports and entertainment mogul Jay Snider is heading to Sotheby’s New York on June 24. The collection includes over 150 items—books, broadsides, letters, and manuscripts—tracing Franklin’s career from printer to scientist to diplomat. Highlights include a 1758 letter to Joseph Galloway (estimated $70,000–$100,000), a 1778 letter from George Washington introducing the Marquis de Lafayette (which sold for over $1 million in January), and a bound volume of Franklin’s electrical experiments ($75,000–$125,000). The full catalogue is valued at $3 million to $4.5 million, and 40 artifacts will be displayed at the Library Company of Philadelphia from May 5 to 7.