Heffel Fine Art Auction House will hold its Spring Auction on May 21, 2026, featuring two sessions: Post-War & Contemporary Art and Old Master, Impressionist, & Modern Art. The sale, held in Toronto and online, includes works by Canadian masters such as Alex Colville, Jean-Paul Riopelle, Guido Molinari, and E.J. Hughes, with top estimates reaching up to $1.75 million CAD for Hughes' 'Coastal Boats Near Sidney, BC'.
New York's major auction houses, Sotheby's and Christie's, are gearing up for their spring sales with high-value consignments from prominent collections. Sotheby's will auction Mark Rothko's "Towering Brown and Blacks in Reds" (1957), estimated at up to $100 million, from the estate of investment banker Robert Mnuchin. Christie's is offering works from the collection of the late gallerist Marian Goodman, including Gerhard Richter's "Kerze" (1982) valued at up to $50 million and "Mohn" (1995) around $15 million, alongside pieces from the estates of publisher S. I. Newhouse and collector Agnes Gund, with a Constantin Brâncuși sculpture and a Jackson Pollock painting each estimated at $100 million, and another Rothko at $80 million.
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.
The New York Times reports that three major auction houses are poised to sell $2.6 billion worth of art in a single week during the spring season, driven by five luxury artworks. The sales are among the most anticipated in years, with major buyers shifting focus away from female and younger artists toward more traditional, established names.