Art News. Vasari Codex

trending_up market schedule Jun 8, 2026 visibility 2 link 6 artists, 5 galleries

Templon Gallery Shutters New York Branch

Templon Gallery has closed its New York branch in Chelsea, becoming the latest international dealer to downsize its presence in the city amid a prolonged art market downturn. The Paris-based gallery, founded in 1966 by Daniel Templon, opened its 6,500-square-foot space in 2022 but decided to leave after the landlord demanded a substantial rent hike as the lease neared renewal. Mathieu Templon, who oversaw the New York operation, said the gallery was paying $55,000 a month and that the increase was unsustainable. The closure follows similar moves by London-based galleries Stephen Friedman and Timothy Taylor, which also shuttered New York locations after expanding during the post-pandemic boom.

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trending_up market schedule Jun 8, 2026 visibility 4 link 1 artist, 2 galleries

Private Jackson Pollock Auction Falls Apart at Sotheby’s: Report

Sotheby’s attempted a private auction for Jackson Pollock’s *Number 19, 1951* on June 2 in New York, with an asking price of $50 million. The painting is owned by Pace Gallery founder Arne Glimcher. The sale failed after the auction house could not attract enough bidders, and Sotheby’s chairman Oliver Barker reportedly sent a video to prospective buyers noting Glimcher’s reluctance to sell. The auction was called off entirely, marking what sources describe as Sotheby’s first significant attempt at a private auction.

newspaper Artforum open_in_new Read original

trending_up market schedule Jun 9, 2026 visibility 1 link 6 artists, 2 galleries

Galerie Templon Pares Back NYC Presence

Galerie Templon has closed its Chelsea outpost in New York after four years, citing a rent increase from $55,000 per month for the 6,500-square-foot space. Mathieu Templon, who oversaw the New York location and is the son of founder Daniel Templon, plans to move back to Paris with his family but intends to open a smaller operation in TriBeCa or the Upper East Side. The gallery's last Chelsea exhibition was a solo show by Jamaican-born painter David Smalling, which closed at the end of April. Templon currently maintains works at a Midtown Manhattan design studio and uses Mathieu Templon's SoHo rental as an appointment-only showroom for private sales.

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trending_up market schedule Jun 9, 2026 visibility 1 link 2 artists, 1 gallery

How the Pace Layoffs Went Down—And What Comes Next

Pace Gallery laid off roughly 50 employees and cut about 50 artists from its roster, as first reported by the New York Times just before a company-wide town hall on Thursday morning. CEO Marc Glimcher held a brief Zoom call instead of the usual in-person gathering, where he acknowledged that his own decisions—including rapid international expansion and rising costs—had led the gallery to this point. The cuts affected sales, communications, art resources, operations, and other departments almost evenly, leaving many staffers uncertain about their jobs and reluctant to speak publicly while severance arrangements were finalized.

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trending_up market schedule Jun 9, 2026 visibility 2 link 1 artist

India Surges Ahead as Asia’s Art Market Splinters

Asia's fine art auction market generated $2.2 billion in total sales in 2025, a sharp decline from its $5.4 billion peak in 2021, while lot volume remained steady at roughly 61,000 works sold per year. The average hammer price has more than halved to $36,000, and the five major regions—China, India, Japan, Korea, and Southeast Asia—have diverged into distinct market trajectories. India has emerged as the standout performer with a median hammer price of $10,864 and a sell-through rate of 89 percent, while Mumbai-based auction house AstaGuru grew revenue by 138 percent and opened a London outpost. Christie's New York set records with a $13.4 million sale of a work by modernist M.F. Husain and will hold its first London sale of South Asian modern and contemporary art in seven years.

newspaper Artnet News open_in_new Read original

trending_up market schedule Jun 10, 2026 link 1 artist

Yayoi Kusama | Pumpkin (White Y) (Executed in 1992.) | For Sale

The article announces that Yayoi Kusama's iconic 1992 sculpture *Pumpkin (White Y)* is available for purchase through Artsy. The work, executed in 1992, is one of the artist's most recognizable motifs, featuring her signature polka-dot pattern on a white pumpkin form.

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trending_up market schedule Jun 9, 2026 visibility 3 link 3 artists

Tbilisi’s defining art market moment

On April 27, Tbilisi hosted its first-ever international auction dedicated entirely to Georgian modern and contemporary art, organized by Hessink’s Fine Art Auctioneers at the Museum of Modern Art. The sale featured 90 works spanning the 20th century to today and achieved a rare "white glove" result, with every lot sold. The total hammer price reached €1,019,070, exceeding €1.3 million with premiums and taxes. Notable results included Alexander (Shura) Bandzeladze's "Dream of Noah" (1989) selling for €250,000, well above its estimate, and strong performances by Mamuka Tsetskhladze, Iliko Zautashvili, Vera Pagava, Lia Bagrationi, and Guela Tsouladze. Bidders participated from the United States, the Netherlands, Belgium, Australia, Spain, and Switzerland, both in person and via online platforms Drouot and Invaluable.

newspaper Meer | English edition open_in_new Read original

trending_up market schedule Jun 9, 2026 visibility 2 link 1 gallery

Templon ferme sa galerie à New York

Templon, the prominent French gallery, is closing its location in New York. The decision marks a strategic retreat from the American market as the gallery refocuses on its core operations in Europe.

newspaper Le Journal des Arts open_in_new Read original

trending_up market schedule Jun 9, 2026 visibility 5 link 6 galleries

The Crisis of the Mega-Gallery Model: From an Era of Expansion to an Era of Focus

Pace Gallery, one of the world's leading mega-galleries, is undergoing a major restructuring, cutting approximately 50 artists from its roster and 50 staff positions. CEO Marc Glimcher has publicly described the current gallery model as not merely "broken" but effectively "unfixable," a statement that has sent shockwaves through the global art world. The move represents a fundamental reassessment of the mega-gallery model that has dominated the art market for decades.

newspaper K-ARTNOW open_in_new Read original

trending_up market schedule Jun 9, 2026 visibility 3

LOOK: Filipino contemporary art made a strong impression at Art Moments Jakarta 2026, with two Philippine galleries reporting sold-out exhibitions during the prestigious regional art fair held on June 4-7, 2026 at the Agora Ballroom of Agora Mall. | via Wendy

Filipino contemporary art made a strong impression at Art Moments Jakarta 2026, held June 4-7 at the Agora Ballroom of Agora Mall. Two Philippine galleries reported sold-out exhibitions during the prestigious regional art fair, highlighting the growing international demand for Filipino artists.

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