Art News. Vasari Codex

trending_up market schedule Oct 9, 2025 visibility 13 link 10 artists, 7 galleries

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Sotheby's will offer Jean-Michel Basquiat's 1981 painting *Crowns (Peso Neto)* in its fall contemporary evening sale in New York with a high estimate of $45 million, the highest estimate ever for a Basquiat work from that pivotal year. The painting, never before auctioned, is described by the house as marking the artist's transition from street artist to international art star. Separately, Art Basel has released the exhibitor list for its inaugural fair in Qatar, featuring 87 galleries including heavyweights like Hauser & Wirth, Gagosian, and Pace, with all booths dedicated to solo presentations curated by artistic director Wael Shawky.

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trending_up market schedule Dec 15, 2025 source 2 sources visibility 5 link 5 artists

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Millea Bros. auction house in New Jersey has sold artworks and furnishings from the estate of convicted sex offender Jeffrey Epstein, generating approximately $100,000 in sales so far. The items, which include a sculpture by Arnaud Kasper and a plaster work by Tom Otterness, were photographed in Epstein's Upper East Side mansion by federal authorities. Sales began in June 2024, with a second round starting last week, though auction descriptions omit any mention of Epstein's identity, meaning buyers may unknowingly acquire pieces linked to the notorious figure. Proceeds go toward administering the estate, which must pay $121 million to the Epstein Victims' Compensation Program and has already disbursed over $50 million in direct settlements.

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trending_up market schedule Jul 22, 2025 source 2 sources visibility 7 link 8 artists, 3 galleries

art dealers association cancels 2025 edition of new york fair 2668781

The Art Dealers Association of America (ADAA) has canceled the 2025 edition of its annual New York art fair, The Art Show, which was scheduled to open at the Park Avenue Armory on October 28. The decision was communicated to members via email and confirmed by ADAA president Susan Sheehan, with the board citing a strategic pause to reimagine the fair for long-term sustainability. The fair has been a staple of the New York social calendar, with its VIP opening night serving as a fundraiser for the Henry Street Settlement, raising over $38 million for the nonprofit over three decades.

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trending_up market schedule Apr 18, 2026 visibility 11 link 2 artists

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Sotheby’s is navigating a complex financial landscape marked by a major debt refinancing effort and the introduction of a controversial delayed-payment program. The auction house is seeking to raise $825 million through five-year bonds to address existing debt due in 2027, while simultaneously facing a $10.2 million lawsuit over real estate commissions. To manage liquidity, the firm has codified a scheme offering sellers a 7 percent interest rate if they agree to wait six months for their payout, a significant departure from the industry standard of 35 to 45 days.

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trending_up market schedule May 1, 2025 visibility 2 link 3 artists

gustav klimt portrait failed auction sale fraulein lieser 1234740370

The sale of Gustav Klimt's *Portrait of Fräulein Lieser* (1917), which fetched €35 million ($37.51 million) at im Kinsky in Vienna in 2024, has collapsed after the anonymous Hong Kong buyer withdrew. The buyer had attempted to negotiate indemnification settlements with all known heirs of Adolf and Henriette Lieser for 60% of the sale proceeds, but one heir refused to sign, causing the deal to fall through. The auction house now faces estimated losses of at least €1.5 million ($1.7 million).

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trending_up market schedule May 28, 2025 visibility 6 link 3 artists

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A long-lost Gustav Klimt portrait of an African prince, missing since World War II, has resurfaced and is now on view at TEFAF Maastricht with a €15 million ($16.4 million) price tag. The painting, titled *Prince William Nii Nortey Dowuona* (1897), was brought to W&K – Wienerroither & Kohlbacher Gallery in 2023 in poor condition, but a stamp from Klimt's estate led to its identification by catalog raisonné author Alfred Weidinger, who had searched for it for two decades. The work depicts an Osu prince from present-day Ghana, created after Klimt attended an ethnographic exhibition at Vienna's Tiergarten am Schüttel where Osu people were put on display. The painting had been owned by Ernestine and Felix Klein, Jewish collectors who fled the Nazis, and is now being shown after a restitution settlement with Klein's heirs.

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trending_up market schedule Apr 16, 2026 source 2 sources visibility 12 link 2 artists

In Surprising Twist, ADAA Art Fair Will Now Benefit the Whitney Museum

The Art Dealers Association of America (ADAA) has named the Whitney Museum of American Art as the new philanthropic beneficiary of its annual fair at the Park Avenue Armory. This decision follows the ADAA's abrupt termination of a 30-year partnership with the Henry Street Settlement, a social services nonprofit that relied on the fair's preview gala for approximately $1 million in annual unrestricted funding. The new event, rebranded simply as the ADAA Fair, will direct its gala proceeds toward the Whitney’s educational and artistic programming.

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trending_up market schedule Dec 2, 2025 visibility 10 link 1 artist

adaa cancels 2025 edition the art show 1234747717

The Art Dealers Association of America (ADAA) has canceled the 2025 edition of its flagship art fair, The Art Show, which was scheduled to open with a benefit preview on October 28 at the Park Avenue Armory. In an email to members, ADAA leadership cited a “strategic pause” and said the board made the decision after careful review, with plans to reimagine the fair for long-term sustainability. Exhibitors who submitted deposits will be contacted about reimbursement options, and the fair is expected to return in 2026 with a renewed vision.

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trending_up market schedule Dec 3, 2025 visibility 8 link 1 artist

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The Art Dealers Association of America (ADAA) has announced a new art fair, the ADAA Fair, set to take place at the Park Avenue Armory from November 12–16, 2026. This follows the cancellation of the 2025 edition of its long-running Art Show, prompted by the end of a partnership with the charity Henry Street Settlement, which had hosted the fair's VIP opening as a fundraiser. The ADAA plans to refocus on supporting visual arts and museums, with the ADAA Foundation continuing to provide grants to U.S. institutions.

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trending_up market schedule May 15, 2025 visibility 7 link 6 artists

Failed auction of $70M bronze bust stuns Sotheby’s bidders into silence

Sotheby's high-stakes Modern evening sale on Tuesday night ended in shock when Alberto Giacometti's bronze bust "Grand tête mince (Grand tête de Diego)," estimated at $70 million, failed to sell. Bidding stalled at $64.25 million, well below the reserve, and auctioneer Oliver Barker withdrew the lot. The consignment came from the Soloviev Foundation, the nonprofit arm of the late real estate mogul Sheldon Solow, who had declined an auction guarantee. The sale ultimately brought in only $152 million, far short of the $240 million low estimate, with the Giacometti representing nearly 30% of that target.

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trending_up market schedule Apr 17, 2026 visibility 9

Sotheby’s Returns to Profit as Sales Rise, Though Cash Pressures Persist

Sotheby’s has reported a return to profitability in 2025, posting a $53 million pre-tax profit following a significant $190 million loss the previous year. Driven by a 20 percent increase in sales totaling $7.1 billion, the auction house benefited from a broader 4 percent recovery in the global art market. Despite these gains, the company is navigating complex financial pressures, including a $10.2 million commission lawsuit from Cushman & Wakefield and the need to refinance $765 million in debt by 2027.

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