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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.

artissima art fair turin 2025 report 1234759650

Italy's largest contemporary art fair, Artissima, opened its 32nd edition in Turin's Oval Lingotto arena with 176 international galleries from 36 countries. The fair is the first major international art event in Italy since the government slashed VAT on art sales from 22% to 5% in July, a move long sought by galleries and dealers. Early sales included works by João Gabriel, Silvia Capuzzo, and Simon Pasieka, and the fair attracted top curators like Hans Ulrich Obrist and Massimiliano Gioni, as well as prominent Italian collecting families. However, some gallerists noted a lack of American collectors, echoing trends seen at Art Basel in Switzerland.

art world italy gallery boom

Austrian art dealer Thaddaeus Ropac is opening a new gallery in Milan, his seventh location, despite initial concerns over Italy's high value-added tax (VAT) on art, which was Europe's highest at 22 percent. The Italian government slashed the VAT to 5 percent in June after pressure from art market players, making it the lowest in the EU. The gallery, spanning over 3,000 square feet in the 18th-century Palazzo Belgioioso, opens on September 20 with a show featuring Georg Baselitz and Lucio Fontana, followed by exhibitions of Valie Export and Ketty La Rocca. Elena Bonanno di Linguaglossa will serve as executive director.

upsilon gallery milan opening 1234756444

Upsilon Gallery, founded by German-Argentine dealer Marcelo Zimmler, will open its first continental European location in Milan on November 18. The 200-square-meter space is situated near Via Monte Napoleone in the Quadrilatero fashion district, joining a wave of international galleries—including Thaddaeus Ropac, Cardi Gallery, and Robilant + Voena—that are betting on Milan's potential to become a global art capital. The inaugural exhibition features four canvases from Osvaldo Mariscotti's Valley series, with a bilingual catalogue edited by critics David Ebony and Alex Grimley, and coincides with twin shows in Upsilon's London and New York outposts.

‘The government understands what is at stake’: Italian art world weighs in on tax cut at Artissima

The Italian parliament reduced VAT on art sales from 22% to 5%, the lowest rate in Europe, a move announced by Prime Minister Giorgia Meloni's government. The tax cut was celebrated at the 30th anniversary dinner of the Fondazione Sandretto Re Rebaudengo in Turin, where politician Federico Mollicone noted it had been over 30 years in the making. The contemporary art fair Artissima, holding its 32nd edition in Turin, became the first Italian fair to test the new tax policy. Italian dealers reported positive effects, including easier deal closures and increased sales to both Italian and European collectors, with some galleries experiencing their best opening day ever.

newsmakers artissima director luigi fassi italy vat cuts 1234760054

Italy slashed VAT on art sales from 22% to 5% in July 2024, the lowest rate in the European Union, after two decades of lobbying by the Apollo Group. The tax cut took effect just before Artissima, Italy's largest contemporary art fair, which saw strong turnout and reported sales increases for many of its 73 Italian galleries, with prices ranging from $2,200 to nearly $20,000. ARTnews interviewed Artissima director Luigi Fassi about the impact of the new rate on the Italian art market and the broader cultural ecosystem.

One of John Lennon’s Final Autographs Hits the Auction Block

A promotional poster for John Lennon and Yoko Ono's album 'Double Fantasy,' signed by Lennon on the morning of his murder on December 8, 1980, is being auctioned by Propstore in London. The lot, estimated between £60,000 and £120,000, includes the RKO Radio archives from Lennon's final interview.

collectibles digest january 2026 2738487

A rare cassette tape containing one of the earliest known recordings of rapper Tupac Shakur, made in 1988 at his friend Ge-ology's home, is being auctioned by the music collecting platform Wax Poetics with an estimate of $120,000–$150,000. The sale includes other personal artifacts like handwritten lyrics and photos from Tupac's pre-fame years in Baltimore, with bidding ending February 11.

bob ross second bonhams auction 2736840

A trio of Bob Ross paintings sold for over $1 million at Bonhams' “Americana” auction on January 27, 2026, with proceeds benefiting American Public Television (APT). The top lot, *Change of Seasons* (1990), fetched $787,900—more than 13 times its high estimate—followed by *Babbling Brook* (1993) at $279,900 and *Valley View* (1990) at $203,700. The sale follows APT's record-breaking November auction and is part of a series of 24 Ross paintings to be offered throughout the year.