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a tale of four cities

Artnet News and Morgan Stanley have released a report analyzing the global art auction market across four major cities—London, Paris, Hong Kong, and New York—over the period from 2013 to 2023. Total auction sales for the first half of 2024 fell to $5.05 billion, down from $7.17 billion in the same period of 2023. The report highlights a dramatic 49 percent decline in London's auction sales following the 2016 Brexit vote, while New York has maintained its dominant position, driven by blockbuster collections like those of Peggy and David Rockefeller and Paul G. Allen. Hong Kong saw growth until the Chinese property crisis in 2022, and Paris has gained ground post-Brexit, with sales up 30 percent over 2013.

Gerhard Richter ‘Candle’ From Estate of Revered Dealer Marian Goodman Falls Short of a Record at $35.1 M.

A Gerhard Richter painting, *Kerze (Candle)* (1982), from the estate of the late dealer Marian Goodman sold at Christie’s on Wednesday evening for $35.1 million (with fees), falling short of the artist’s $46.3 million record set over a decade ago. The lot, estimated at $35–$50 million, was guaranteed by a third party and drew a hammer price of $30 million after less than two minutes of subdued bidding. Goodman, who represented Richter for decades until he left for David Zwirner in 2022, had purchased the work directly from the artist in 1989 and held it for nearly 40 years. The painting was one of eight Richter works from Goodman’s estate offered in the combined “Marian’s Richters & 21st Century Evening Sale.”

jeff koons split rocker lacma resnicks

Lynda and Stewart Resnick have donated a monumental Jeff Koons sculpture, *Split-Rocker*, to the Los Angeles County Museum of Art (LACMA). The 37-foot-tall work, made of a metal skeleton and planted with 50,000 flowers, resembles a hybrid toy head—half rocking horse, half dinosaur. It will be installed near a new group of galleries endowed by trustee David Geffen. The Resnicks listed an unnamed piece given to LACMA on their 2023 tax filings valued at $9.6 million. The donation is part of director Michael Govan’s long-term plan to add another major sculpture to LACMA’s campus, alongside works like Chris Burden’s *Urban Light* and Tony Smith’s *Smoke*.

MoMA acquires works featured in monumental Adam Pendleton installation

The Museum of Modern Art (MoMA) has acquired the 35 individual paintings, drawings, and video works that comprised Adam Pendleton's monumental installation *Who Is Queen?* (2019-21), which was on view in the museum's atrium from 2021 to 2022. The installation explored Pendleton's conceptual framework of "Black Dada," a term he first outlined in his *Black Dada Manifesto* (2008), and included works such as *Notes on the Robert E. Lee Monument, Richmond VA (Figure)* (2021), a film reflecting on the 2020 racial justice protests. The acquisition marks a significant institutional commitment to Pendleton's practice, which continues to evolve in his current exhibition at the Hirshhorn Museum and Sculpture Garden in Washington, DC.

Leading French Gallery Air de Paris Is Declaring Bankruptcy and Closing After 36 Years

Air de Paris, a leading French gallery, is declaring bankruptcy and closing after 36 years, as announced by cofounders Florence Bonnefous and Edouard Merino to Cultured. The gallery owes money only to its landlord and bank, not to its artists. The closure is attributed to fragile finances and health issues, including Bonnefous's Chronic Obstructive Pulmonary Disease. The gallery's farewell exhibition, “Oh What a Time,” featured artists such as Trisha Donnelly, Joseph Grigely, Pati Hill, Pierre Joseph, Allen Ruppersberg, Lily van der Stokker, Mona Varichon, and Amy Vogel. Bonnefous will continue to manage the estates of Guy de Cointet, Pati Hill, Dorothy Iannone, Bruno Pelassy, and Sarah Pucci, and work as a curator.

lost jesus painting peter paul rubens paris mansion osenat

A long-lost painting of Jesus Christ's crucifixion by 17th-century Flemish master Peter Paul Rubens, titled *Christ on the Cross* (1613), was discovered in a Parisian mansion by auctioneer Jean-Pierre Osenat last September. The large Baroque work, measuring 42 by 29 inches, was authenticated by German curator and art historian Nils Buttner, chairman of the Centrum Rubenianum, through X-ray imaging and pigment analysis. It will be auctioned by Osenat's auction house in Fontainebleau on November 30, with no estimate yet released.

Shepard Fairey Projection Mirror: ICE Paid Agitator Screenprint Contemporary Art Obey Giant , 2026

Street artist Shepard Fairey has released a new limited-edition screenprint titled "Projection Mirror: ICE Paid Agitator" as part of his "FUCK ICE" series. The artwork features inflammatory rhetoric previously used by the Trump administration, redirected toward U.S. Immigration and Customs Enforcement (ICE) to highlight what the artist describes as the agency's pervasive brutality and dehumanizing attacks on immigrants. A portion of the proceeds from the sale of these prints will benefit the Coalition for Humane Immigrant Rights (CHIRLA).

Comment un père et sa fille ont dupé le marché de l’art avec de faux Picasso et Banksy

A Polish father-daughter duo, Erwin Bankowski (50) and Karolina Bankowska (26), orchestrated a major art forgery scheme between 2020 and 2025, selling over 200 fake artworks attributed to Andy Warhol, Banksy, Pablo Picasso, Andrew Wyeth, and others through top auction houses and galleries in New York and across the United States. They pleaded guilty in federal court in Brooklyn to conspiracy to commit wire fraud and misrepresentation of Native American goods, facing up to 20 years in prison, with sentencing set for August 5. The fakes, produced by an unidentified Polish artist, were sold for at least $2 million, with the highest known sale being a fake Richard Mayhew landscape that fetched $160,000 at DuMouchelles in Detroit.

Spain’s galleries are protesting against high taxes—can Arco Madrid help voice their concerns?

The 45th edition of Arco Madrid, Spain’s premier contemporary art fair, is set to host 206 galleries from 36 countries at the Ifema convention centre. While the fair remains a vital commercial hub, it is currently overshadowed by a nationwide protest from Spanish galleries against the country's 21% VAT on art purchases. This tax rate is among the highest in Europe, significantly outpacing neighbors like Portugal and France, leading to concerns about international competitiveness and the classification of contemporary art as a luxury elite product.

Tony Hawk, Banksy, Powell-Peralta, Beastie Boys Items Lead Street Art & Culture Auction

Julien's Auctions has announced a 'STREET ART & CULTURE' auction featuring 70 lots that blend skate culture, street art, and music memorabilia. Highlights include Tony Hawk's personal T-shirt and signed poster from his historic 1999 X Games '900' trick (estimate $6,000-$8,000), a Banksy signed limited-edition 'Sale Ends' screenprint (estimate $20,000-$30,000), and boards from Powell-Peralta such as Steve Caballero's 'Half Cab Dragon'. The sale also includes works by Jean-Michel Basquiat, Jamie Reid, Shepard Fairey, and memorabilia from Gorillaz, Beastie Boys, and Wu-Tang Clan. The online auction is scheduled for February 4, 2026.

Rope used to topple Colston statue to be sold

A rope used to pull down the statue of slave trader Edward Colston in Bristol during a 2020 Black Lives Matter protest, along with a Banksy T-shirt given to one of the 'Colston Four' defendants, is being auctioned by Auctioneum Ltd. The lot is expected to fetch between £10,000 and £15,000 in a specialist sale on December 29, 2025. The four protestors were acquitted of criminal damage in 2022 after a jury trial.