At Art Basel Hong Kong, Blue-Chips Report Flurry of 7-Figure Deals, While Others Lament ‘Slower Than Usual’ Sales

Major galleries reported significant seven-figure sales on the opening day of Art Basel Hong Kong. Hauser & Wirth sold works by Louise Bourgeois and George Condo for millions, while David Zwirner sold paintings by Liu Ye and Marlene Dumas for $3.8 million each. Pace Gallery's CEO noted a renewed energy, and other blue-chip dealers like White Cube and Lehman Maupin also reported high-value transactions, particularly with Asian collectors and institutions.

The Art Market Returns to Growth

Confidence in the art market is rising, with a significant increase in dealers expecting sales growth in 2026 according to the latest Art Basel and UBS Global Art Market Report. The report, authored by economist Clare McAndrew, notes that 43% of dealers anticipate improvement, a 10-point jump from the previous year, though recovery remains uneven due to high costs and trade barriers.

Veteran Advisor Patti Wong on How the Auction Market Is Recalibrating

Veteran art advisor Patti Wong, who left Sotheby's after three decades to start her own firm, analyzes a significant recalibration in the auction market. She notes a new discipline among auction houses and buyers following the frothy post-pandemic years, with houses becoming more selective, relying heavily on third-party guarantees, and facing greater buyer scrutiny on provenance and estimates. She also highlights the industry's expansion into new geographies like Saudi Arabia and new categories like luxury goods.

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.

Maurizio Cattelan opens a hotline to absolve us of our sins via WhatsApp

Maurizio Cattelan ouvre une hotline pour nous absoudre de nos péchés par WhatsApp

Italian provocateur Maurizio Cattelan has launched "The Confessional," an international hotline allowing participants to confess their sins via WhatsApp, SMS, or voice notes from April 2 to April 22, 2026. This participatory performance culminates in a livestream on April 23, where Cattelan will personally grant absolution to selected participants. The project coincides with the release of a limited edition of 666 miniature replicas of his infamous 1999 sculpture, "La Nona Ora," which depicts Pope John Paul II being struck by a meteorite.

Marcel Duchamp - Hommage à Caissa (for the Marcel Duchamp Fund of the American Chess Foundation), 1966

Marcel Duchamp - Hommage a Caissa (for the Marcel Duchamp Fund of the American Chess Foundation) , 1966

This rare 1966 silkscreen poster commemorates the "Hommage à Caissa" exhibition at New York’s Cordier & Ekstrom Gallery, a fundraiser organized by Marcel Duchamp for the American Chess Foundation. The event featured contributions from 36 iconic artists, including Salvador Dalí, Jasper Johns, and Alexander Calder, and is famously remembered for Andy Warhol’s uninvited "guerrilla attack" appearance with the Velvet Underground. The poster's design incorporates RSVP cards sent to participating artists, some featuring personal notes and autographs.

Willem de Kooning | Kneeling Woman (1966)

Willem de Kooning's 1966 work "Kneeling Woman" has ended its bidding process, with the listing appearing on a platform that aggregates auction results and available works. The piece, an oil on paper on board measuring 23.5 by 11.5 inches, is signed and has a known provenance including Harold Diamond, a private collection in Baltimore, Solomon & Co. Fine Art, Robert Peyser, and a Sotheby's sale in 2019. It was previously exhibited at the Nassau County Museum of Art in 1981 as part of "The Abstract Expressionists and Their Precursors" show.

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Jaiveer Johal, an Indian art collector and logistics heir based in Chennai, discusses the current boom in the Indian art market in an interview for Artnet Pro's newsletter "The Asia Pivot." Johal, who founded the Avtar Foundation for the Arts in 2024 to promote Modern and contemporary South Asian art, notes that auction records for Indian Modern masters have reached new highs while contemporary galleries like Experimenter, Nature Morte, and Jhaveri Contemporary are expanding internationally. He observes that rising prices are pricing out many collectors, including himself, as institutions and wealthy buyers drive demand.

London show of Lee Miller photographs is fundraising to save thousands of her negatives

The Lee Miller Archives, established after the American photographer's vast collection was discovered in the attic of her Sussex home following her death in 1977, is raising funds through an exhibition at Lyndsey Ingram gallery in London to conserve up to 60,000 negatives and prints, some nearly 100 years old and in perilous condition. The show, titled "Lee Miller: Performance of a Lifetime" (23 January-25 February), explores the role of theatre and performance in Miller's work from her 1929 arrival in Paris through her WWII photojournalism, with prices starting at £3,800. Proceeds will enable freezing and preservation of the archive stored at Farleys House, where Miller lived with her husband Roland Penrose.

2026 asian art market preview 2737112

Artnet Pro's 'The Asia Pivot' newsletter previews the 2026 Asian art market, highlighting a hopeful recovery after signs of improvement in late 2025. Key events include Art SG in Singapore (hosting S.E.A. Focus for the first time), the inaugural Art Basel Qatar in February, and Art Basel Hong Kong in March. Auction houses will align spring sales with these fairs. The article also notes regional shifts: South Korea's Art Asia partners with KINTEX for a new fair in India, Hong Kong's Kwai Fung Hin opens in Singapore, and Shanghai's Antenna Space expands to Hong Kong. Japan's Prime Minister Sanae Takaichi meets with artist Takashi Murakami to promote culture abroad, while geopolitical tensions with China threaten cultural exchanges.