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frieze london 2025 big galleries report strong sales afternoon

Frieze London 2025 opened with strong VIP preview sales, as major galleries reported brisk business by early afternoon. Thaddaeus Ropac sold a Robert Rauschenberg work for $850,000 and a Tony Cragg sculpture for $420,000, while Hauser & Wirth moved multiple pieces including a George Rouy for £275,000 and an Ellen Gallagher for $950,000. Gagosian sold a new Lauren Halsey sculpture before noon, and White Cube reported six sales. The fair's layout, which places mega-galleries at the back to encourage foot traffic to smaller booths, returned by popular demand.

artnews celebrates 2025 top 200 collectors issue

On September 18, ARTnews celebrated the 2025 edition of its annual Top 200 Collectors list with a launch party at the newly opened Faena New York in Chelsea. The event was cohosted by collectors Beth Rudin DeWoody and Miyoung Lee, both trustees of the Whitney Museum. ARTnews Editor-in-Chief Sarah Douglas introduced the hosts, highlighting DeWoody's role as a supportive art patron and Lee as a representative of a younger generation of collectors. Other Top 200 Collectors in attendance included Michael Ovitz, Lonti Ebers, Lisa Goodman, Rodney Miller, Pete Scantland, and James Keith “JK” Brown and Eric Diefenbach. The evening featured a performance by pianist Arsha Kaviani, Cognac from LOUIS XIII, wines from Rioja, luxury perfumes from Xerjoff, and photo cards from Chubb.

perelman art insurance ruling

A New York judge has ruled against billionaire investor and art collector Ronald O. Perelman in his attempt to collect $400 million from insurers for five paintings allegedly damaged in a 2018 fire at his East Hampton estate. Justice Joel M. Cohen of State Supreme Court in Manhattan found no visible damage to the works—two by Andy Warhol, two by Ed Ruscha, and one by Cy Twombly—and nothing traceable to the fire that would reduce their value. Perelman claimed the fire robbed the paintings of their 'spark' and 'oomph,' but insurers including Lloyd's of London, Chubb, and AIG countered that the works were unscathed and accused Perelman of filing claims under severe financial pressure after a collapse in Revlon stock.

trial ron perelman insurance claim warhol ruscha twombly

The trial between billionaire collector Ron Perelman and a group of insurers began Monday in New York Supreme Court, nearly seven years after a 2018 fire at his Hamptons estate, the Creeks. Perelman claims the fire damaged five paintings—two by Andy Warhol, two by Ed Ruscha, and one by Cy Twombly—insured for a collective $400 million, arguing the works lost their "oomph" due to smoke, humidity, and relocation during the fire. The insurers, including Lloyd's of London, Chubb, and AIG, contend the works sustained no detectable damage and that Perelman's claim is a "money grab" filed amid serious financial difficulties, including margin calls and the sale of 71 artworks for $963 million between 2020 and 2022.