Mark Rothko Painting Agnes Gund Hung in Her Living Room Sells for $98 M., Setting a Record

A Mark Rothko painting, *No. 15 (Two Greens and Red Stripe)* (1964), formerly owned by prominent art patron and Museum of Modern Art president emerita Agnes Gund, sold at Christie’s on Monday night for $98.4 million (including fees). The work, which Gund purchased directly from Rothko in 1967 and kept in her living room until her death last September, received about a dozen bids before hammering at $85 million to a buyer represented by Christie’s specialist Rachael White Young. The sale broke Rothko’s previous auction record of $86.9 million set in 2012 for *Orange, Red, Yellow* (1961), also at Christie’s New York.

The Venice Biennale’s Polite Fiction of Being ‘Above the Market’ Is Wearing Thin

The 61st Venice Biennale is underway, with art world figures flocking to Venice for the opening. While the Biennale is officially a non-selling curatorial platform, commercial interests are increasingly visible: galleries are funding artists' projects to recoup investments, auction houses like Christie's are hosting private selling exhibitions (including a 'Ghost Pavilion' at the Ca' Dario Palazzo), and fashion houses such as Bottega Veneta and Chanel are sponsoring events. Sotheby's has pulled support for the U.S. Pavilion, which is now crowdfunding, while Frieze is bankrolling the British Pavilion for a second time.

17 New Artist Auction Records Set in May 2026

New York's spring auction week, starting May 18, 2026, saw record-breaking sales led by Christie's, which realized over $1.1 billion across two opening night sales. Major estate consignments from Condé Nast owner S.I. Newhouse, MoMA trustee Agnes Gund, dealer Marian Goodman, and financier Robert Mnuchin fueled the market, resulting in 17 new artist auction records.

New York Art Week 2026 Frieze And TEFAF Report

New York Art Week 2026 featured major art fairs including Frieze New York at The Shed, which drew 25,000 visitors from 75 countries and launched the Sherman Family Foundation Acquisition Fund, placing works by four artists into the Brooklyn Museum and Baltimore Museum of Art. TEFAF New York at the Park Avenue Armory presented over 90 international galleries across historic period rooms, while satellite fairs Independent, NADA New York, and 1-54 Contemporary African Art Fair offered focused alternatives. Auction houses Sotheby's, Christie's, and Phillips opened free spring sale previews featuring highlights such as Roy Lichtenstein's 'Anxious Girl' and the Lewis Collection.

A $433 Million Boost for the Market

Sotheby's May 2026 auctions in New York generated $433.1 million in sales over under three hours, a 132.7 percent increase compared to the same period last spring, despite offering fewer lots. This strong performance signals a top-heavy recovery in the art market after three years of contraction. Separately, the Neue Galerie will merge with the Metropolitan Museum of Art in 2028, and Art Dubai continues despite disruptions from the U.S.-Iran war.

Tracking the Biggest Market Players at the Venice Biennale

The 61st Venice Biennale is underway, and while it is officially a non-commercial exhibition, market forces are increasingly influential behind the scenes. Artnet News host Margaret Carrigan reports on auction houses actively participating in opening week, and highlights Sotheby’s upcoming single-owner sale in London featuring works from billionaire Joe Lewis’s collection, expected to exceed $200 million. Meanwhile, Whitechapel Gallery has created a new economist-in-residence position to address ongoing financial strain in museums.

Market Outlook for New York’s May Sales

New York's May sales season is underway with over $1.8 billion worth of art heading to auction at major houses including Sotheby's, where a monumental Rothko consigned by Robert Mnuchin is expected to fetch $70–100 million. Frieze New York opens at the Shed with 68 galleries, half of them local. Other notable developments include a major Banksy work hitting the auction block with one of its highest estimates ever, and the estate of sculptor Robert Therrien leaving Gagosian after nearly 30 years to join David Zwirner.

Frieze New York 2026 Sales Report & Contemporary Art Market Trends

Frieze New York 2026 concluded with significant sales activity, as galleries reported strong demand for blue-chip contemporary works. The fair featured a mix of established and emerging artists, with notable transactions including major paintings by living artists and secondary market pieces. Dealers noted a cautious but steady market, with collectors focusing on high-quality, investment-grade works.

New York Art Week Will Test the Market’s Momentum

New York Art Week is set to test the art market's momentum with half a dozen fairs and major auctions. Frieze New York opens at the Shed on May 13 with 68 galleries, while Sotheby's leads auction sales starting May 14, featuring a Mark Rothko painting estimated at $70–$100 million from Robert Mnuchin's collection. The total low estimate for Sotheby's week is $690.4 million, roughly 70% higher than last year's hammer total. Alternative fair Esther, co-founded by Margot Samel and Olga Temnikova, kicks off May 12 at the Estonian House for its third and final edition, emphasizing intentionality and community over scale.

10 Works Under $10K at Frieze New York 2026

Frieze New York 2026 offers a selection of artworks priced under $10,000 in its online Viewing Room, making the fair more accessible to a broader range of collectors. Featured works include Esther Pearl Watson's UFO-themed paintings of rural America and Nobuyoshi Araki's intimate photographs of his cat, among other affordable pieces from various galleries.

A Record for Lalanne

Un record pour Lalanne

Sotheby's New York achieved a major result with the sale of a set of fifteen mirrors by Claude Lalanne (died 2019), commissioned between 1974 and 1985 for the music room of Yves Saint Laurent and Pierre Bergé's Paris apartment. Estimated at $10–15 million, the lot—from the collection of Jean and Terry de Gunzburg after the 2009 Saint Laurent-Bergé sale—fetched $33.5 million including fees, setting a record for the artist.

La grande artista Carla Accardi e l’arte italiana sono da record nell’asta da Dorotheum a Vienna

Dorotheum opened its Contemporary Week in Vienna on May 19, 2026, with modern and contemporary art sales that achieved strong results, particularly for Italian artists. Carla Accardi set a new auction record when her 1986 triptych *Fonda Notte Pieno Giorno* sold for €520,000, while works by Piero Dorazio, Emilio Vedova, Marino Marini, and Gino Severini also far exceeded their estimates. Top lots included Claude Monet’s *Waterloo Bridge* (€611,000) and Mikuláš Medek’s *Too Deep a Sleep V* (€546,000).

Tuan Vu | Nhat Binh (2026) | Art & Prints

This article presents the artwork "Nhat Binh" (2026) by Vietnamese Canadian artist Tuan Vu, offered through Kristin Hjellegjerde Gallery. The painting, executed in oil and oil stick on linen, measures 35 2/5 × 29 1/2 inches and is a unique, hand-signed work accompanied by a certificate of authenticity. The listing includes details about the artist's background, his immigration to Canada as a refugee, his shift from engineering to full-time art practice in 2021, and his exhibition history including a solo show at Simard Bilodeau Contemporary in 2023 and subsequent shows in Berlin, London, New York, and across Canada.

Park Soo-keun's Early Recognition and Record-Breaking Art Sales

A newly discovered 1931 newspaper article reveals that the renowned Korean artist Park Soo-keun (1914–1965) received early public recognition as a teenager in the Chosun Ilbo, which described him as the "only painter in Yanggu." The article traces his artistic journey from his first selection at the Chosun Art Exhibition in 1932 with his watercolor *Spring Arrives* to his later success in the 1950s and 1960s, including winning awards at the National Art Exhibition and being appointed a judge. It also notes that his painting *The Laundry Place* recently sold for 4.7 billion won, setting a record at a domestic art auction.