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Kenny Schachter's column reports on the fallout at Michael Werner Gallery following the departure of star artist Peter Doig. Co-owner Gordon VeneKlasen is accused of expensing luxury items—including private jets, Hamptons helicopter rides, and even a solo helicopter trip for his Labrador Retriever—while the gallery faced financial strain. The partnership is dissolving, with VeneKlasen moving to Los Angeles to open his own gallery and listing his West Village home for $20 million. Meanwhile, Schachter also notes Pace Gallery's financial troubles, with founder Arne Glimcher stepping in to stabilize operations.

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Hauser & Wirth has sold its Upper East Side townhouse at 32 East 69th Street for $10.5 million to a developer, ending a decades-long presence in the neighborhood. The property, purchased in the 1990s as a family residence, was renovated by architect Annabelle Selldorf and later used as gallery space from 2009, hosting exhibitions by artists like Pope.L, Anna Maria Maiolino, Luchita Hurtado, and Arshile Gorky. Gallery co-founder Iwan Wirth cited a shift in the family's center of gravity to Chelsea and the business's expansion downtown with new locations on West 18th Street and Wooster Street in SoHo.

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The International Fine Print Dealers Association (IFPDA) is expanding its annual print fair to include drawings dealers, rebranding as the International Fine Prints & Drawings Association. The 2026 edition, running April 9–12 at New York's Park Avenue Armory, will feature 77 exhibitors, including new drawings-focused member Sigrid Freundorfer Fine Art and returning dealers like Crown Point Press and Hauser & Wirth. The change follows a membership vote and legal restructuring, driven by record attendance of over 21,000 visitors at the 2025 fair and a 57% jump in VIP registrations, fueled by Gen Z and millennial collectors.

phillips tests lichtenstein market vandalized painting priced 20 million 719840

Phillips New York is offering Roy Lichtenstein's 1994 painting *Nudes in Mirror* with a $20 million estimate this fall, despite—or perhaps because of—its history of vandalism. The work, from the Rush Family Collection, was slashed by a mentally unstable woman while on loan to the Kunsthaus Bregenz in Austria in 2005, leaving four 12-inch gashes that have since been expertly restored. Phillips is openly embracing the attack as part of the painting's mythology, detailing the incident in its catalogue and comparing it to other famous acts of art vandalism.

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Artnet News and Morgan Stanley have released a report analyzing the global art auction market across four major cities—London, Paris, Hong Kong, and New York—over the period from 2013 to 2023. Total auction sales for the first half of 2024 fell to $5.05 billion, down from $7.17 billion in the same period of 2023. The report highlights a dramatic 49 percent decline in London's auction sales following the 2016 Brexit vote, while New York has maintained its dominant position, driven by blockbuster collections like those of Peggy and David Rockefeller and Paul G. Allen. Hong Kong saw growth until the Chinese property crisis in 2022, and Paris has gained ground post-Brexit, with sales up 30 percent over 2013.

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Former Sotheby's rainmaker Brooke Lampley, now a director at Gagosian, discusses the art market's loss of control over pricing, citing a failed $70 million Alberto Giacometti bust at auction as a symptom of deeper market confidence issues. The article traces the evolution of art pricing from opaque, dealer-driven norms to a data-rich system enabled by Artnet's Price Database in 1989, which fueled a price spiral and attracted speculators. Now, in 2025, the market faces a correction with auction sales down 27.3 percent to $10.2 billion, and buyers are pausing as traditional pricing signals become scrambled.

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The late Toronto collectors Morton and Carol Rapp have donated over 450 artworks by 203 artists to the Art Gallery of Ontario (AGO) from their estates. The gift includes major Pop art works: 13 screen prints by Andy Warhol, including four Marilyn Monroe portraits (1967); works by Robert Rauschenberg, Jasper Johns, Claes Oldenburg (including the sculptural print 'Teabag' from 1966), David Hockney, and Roy Lichtenstein; plus Barnett Newman's 1964 lithograph 'CANTO XVIII', marking the Abstract Expressionist's debut in the collection. The donation also features photography by Yinka Shonibare and Kara Walker. The couple, who began supporting the AGO in 1966, had previously donated 474 works, bringing their total contribution to nearly 1,000 pieces.

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Art Basel in Basel has concluded, with galleries reporting hundreds of sales despite low expectations set by lackluster New York auction results. Dealers shared prices ranging from $1 million to $17 million, with top sales including David Hockney's *Mid November Tunnel* (2006) at Annely Juda Fine Art ($13M–$17M), a Ruth Asawa sculpture at David Zwirner ($9.5M), and a Gerhard Richter painting at David Zwirner ($6.8M). Other notable transactions include works by Keith Haring, Mark Bradford, Georg Baselitz, and George Condo, though many galleries provided only price ranges and withheld exact titles or mediums.

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Michael Werner Gallery is expanding rather than contracting, opening a second New York space on the Upper East Side at 1018 Madison Avenue, just around the corner from its original location at 4 East 77th Street. The new venue was secured after the building housing the original gallery went up for sale, prompting partner Gordon VeneKlasen to search for alternatives. The inaugural exhibition features Sanya Kantarovsky, who is also joining the gallery's roster, with a two-part show titled "Scarecrow" opening May 7. The expansion was designed by architect Annabelle Selldorf, who previously worked with the gallery in 1989.

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Michael Werner and Gordon VeneKlasen, partners at Michael Werner Gallery for 35 years, are dissolving their partnership at the start of next year. Werner will continue operating Galerie Michael Werner in Berlin, while VeneKlasen will launch a new international gallery called VeneKlasen, taking over the current New York, London, and Los Angeles locations. The changes take effect in February, with VeneKlasen announcing his program early next year.

After 14 years with Pace, Yoshitomo Nara's work now represented by David Zwirner

Japanese artist Yoshitomo Nara, renowned for his kawaii-inspired paintings and sculptures, has switched gallery representation from Pace Gallery to David Zwirner after 14 years. David Zwirner, which has locations in New York, Hong Kong, London, Los Angeles, and Paris, will hold its first solo exhibition with Nara at an unspecified future date in New York. Nara will continue to work with his international agent, Equivalence Art Agency, and Pace Gallery will maintain a relationship with the artist. Nara's career includes major solo shows at institutions like the Albertina Modern in Vienna, the Hayward Gallery in London, and the Los Angeles County Museum of Art.

What Germany’s Art Market Reveals About the Limits of Localism

German art dealers are increasingly pivoting toward regional strategies as the national market faces a period of stagnation. While the broader European Union saw a modest rise in dealer sales, Germany’s market contracted by 4 percent between 2024 and 2025, hampered by high interest rates and a sluggish post-pandemic recovery. In response, major fairs like Art Cologne are launching satellite editions in locations like Mallorca to follow wealthy German collectors on vacation, while Art Düsseldorf prepares for a record-breaking edition despite the economic downturn.

barbara gladstone gallery chelsea townhouse sold 13 million 1234750511

The Chelsea townhouse of the late gallerist Barbara Gladstone sold for $13.1 million, over $1 million above its $11.99 million asking price, in an all-cash deal that closed on August 27. The 19th-century Greek Revival row house at 344 W. 22nd St was purchased by an unnamed buyer, with brokers Scott Hustis and Mark Jovanovic of Compass reporting the sale set a record per square foot for a Chelsea townhouse. Gladstone, who founded the Gladstone Gallery in 1980 and became one of New York's most prominent dealers, died in June 2024 at age 89. She had bought the property in 2011 for $6.3 million. Architect Annabell Selldorf designed the current iteration of the 4,395-square-foot home, and Piet Oudolf designed its garden. The home featured gallery-like Venetian plaster walls and white oak floors that showcased works from Gladstone's private collection.

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The Chelsea townhouse of legendary art dealer Barbara Gladstone has been listed for sale at just under $12 million. The Greek Revival row house on West 22nd Street, which Gladstone purchased for $6.3 million in 2011, was extensively renovated by architect Annabelle Selldorf, who also designed Gladstone's two Chelsea galleries. The five-bedroom, five-bathroom property features a curving skylit staircase and floor-to-ceiling windows overlooking a garden. The listing is held by Compass agent Scott Hustis.

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.

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.

10 Galleries That Had a Breakout Year in 2025

The article highlights 10 galleries that achieved significant growth and recognition in 2025, despite a challenging market environment marked by tariffs and trade uncertainty. Featured galleries include Tokyo's CON__, which gained global visibility through standout presentations at Frieze Seoul and NADA New York; Munich and New York-based LOHAUS SOMINSKY, which debuted at Art Basel Miami Beach and opened a Tribeca outpost; and Chicago's Hans Goodrich, which quickly established itself with a cross-generational exhibition program and international fair appearances.

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Artnet News has curated a list of 10 artworks available through its Gallery Network as Valentine's Day gift suggestions. The featured works include pieces by artists such as Damien Hirst, Marc Chagall, Man Ray, and Emilie Charmy, with prices available upon inquiry. The selection ranges from contemporary works like Hirst's 'Butterfly Heart' (2020) to historical pieces like Chagall's 'The Adolescents' (1975), all presented as alternatives to traditional Valentine's gifts like roses or chocolates.

Gustav Klimt's rare 'Elisabeth Lederer' painting fetches record $236.4 million - Most expensive work of mo

Gustav Klimt's rare portrait 'Elisabeth Lederer' sold for $236.4 million at Sotheby's, setting a new record as the most expensive work of modern art ever sold at auction. The painting, created in the final years of Klimt's life, narrowly survived World War II after being separated from other works destroyed in a fire at Immendorf Castle. It came from the collection of Estée Lauder heir Leonard A. Lauder, who died earlier this year. The sale also featured Maurizio Cattelan's 18-karat gold toilet 'America', which drew only a single bid and sold for $12.1 million.

A young Richter’s painting of an even younger Polke and a once-grimy Brazilian landscape by Frans Post: our pick of the May auctions

The article previews five major lots coming to auction in New York in May 2025, spanning Phillips, Sotheby's, Christie's, and Bonhams. Highlights include Gerhard Richter's 'Mann mit zwei Kindern' (1966), a portrait of Sigmar Polke estimated at $4–6 million; Frans Post's 'View of Olinda with Ruins of the Jesuit Church' (1666), estimated at $6–8 million and expected to break the artist's record; Andy Warhol's 'Big Electric Chair' (1967–68), estimated around $30 million; and Fernando Botero's 'The Bed' (1982), estimated at $700,000–$1 million. Each work is making its auction debut or is a rare market appearance.

Collector Julia Stoschek Closes Down Berlin Exhibition Venue After 10 Years In Favor of International Projects

Julia Stoschek, a leading art collector and ARTnews Top 200 figure, is closing her Berlin exhibition venue after a decade of operation. The 3,000-square-meter space in the former Czech Cultural Center, which opened in 2016, will shut at the end of October 2026, having hosted 22 exhibitions and attracted 450,000 visitors. The Stoschek Foundation will maintain its Düsseldorf venue, while Stoschek shifts focus to international projects, such as the recent Los Angeles exhibition “What a Wonderful World: An Audiovisual Poem,” curated by Udo Kittelmann.

Sun, Sea, and Security

"Sonne, Meer und Sicherheit"

The Art Cologne Palma Mallorca art fair has emerged as a strategic hub for wealthy German collectors, positioning the Mediterranean island as a safe and accessible alternative to more volatile global markets. While sales have been strongest in the lower price segments, the fair's revival highlights a trend toward 'lifestyle' art events that prioritize security and leisure. Simultaneously, the German art market faces a broader crisis of regionalization, where galleries are increasingly focusing on local buyers despite declining overall sales and a lack of transformative economic growth.

Winfred Gaul | May (1969) | For Sale

A screenprint titled "May (1969)" by German Abstract artist Winfred Gaul is being offered for sale through RoGallery Auctions on Artsy. The work, edition 6/100, was originally featured as the image for May in the 1969 Domberger calendar, which included screenprints by 12 prominent artists. The print is signed and numbered in pencil, with an estimated value of $600–$900 and a starting bid of $250. The listing includes a biography of Gaul, noting his studies at the University of Cologne and the Academy of Fine Arts in Stuttgart, his first solo exhibition in 1956 at Gurlitt Gallery in Munich, and his participation in Documenta 2 in 1959. His work is held in major museum collections including MoMA, the National Gallery of Art, and the Art Institute of Chicago.

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Investment group Beowolff Capital has announced a voluntary takeover offer for Artnet, valuing the company at approximately €65 million ($73.7 million). Beowolff Capital, a U.K.-registered firm led by CEO Andrew Wolff, has already secured 65% of Artnet's shares and plans to delist the company from the Frankfurt Stock Exchange. The deal includes the purchase of a 29.99% stake from Weng Fine Art AG, ending a long-running control struggle. Artnet's management supports the offer, which is expected to close on May 30, 2025.

A New Generation of Gallerists Is Redefining Artist Representation

A new generation of gallerists is rethinking traditional artist representation models, moving away from rigid exclusivity clauses and transactional relationships. Figures like Bryce Watanasoponwong of The Charoen AArt in Bangkok, Storm Ascher of Superposition, and Lorraine Han of Unveil Gallery are adopting flexible, collaborative approaches that reflect the realities of contemporary artists, who often juggle multiple roles and prefer non-exclusive arrangements. These gallerists emphasize open dialogue, shared responsibility, and long-term relationship-building over strict contracts, as seen in Ascher's seven-year support of artist Haleigh Nickerson, which culminated in a solo show at NADA New York 2025.

Rediscovered Rubens and a woolly mammoth head star at Brafa fair in Brussels

Brafa, Belgium's premier art and antiques fair, has expanded for its 71st edition, now featuring 147 exhibitors across three halls in the Brussels Expo convention centre. Highlights include a newly rediscovered Peter Paul Rubens painting, *Portrait of an Old Man* (around 1609), priced at over €1 million, and a 50,000-year-old woolly mammoth head from Siberia that sold for €45,000. The fair runs from 25 February to 1 March, with a strong focus on painting from Old Masters to Modern art, and a notable presence of Belgian and early 20th-century French artists.

A War Souvenir for Düsseldorf

Un souvenir de guerre pour Düsseldorf

The Kunstpalast museum in Düsseldorf has acquired a war-related painting by Bordeaux-born artist William Laparra, who was mobilized in 1917 into the French camouflage section during World War I. Laparra served as a brigadier-chief in the 1st group of the 10th Army at the Chantilly workshop, a unit created in 1915 by figures including Eugène Corbin, Louis Guingot, and painter Guirand de Scévola, who developed earth-toned uniforms and painted canvas to conceal artillery from German aircraft.